RFG Advisory LLC Has $661,000 Stake in NIKE, Inc. (NYSE:NKE)

RFG Advisory LLC grew its stake in NIKE, Inc. (NYSE:NKE) by 207.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,735 shares of the footwear maker’s stock after purchasing an additional 5,891 shares during the quarter. RFG Advisory LLC’s holdings in NIKE were worth $661,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of NKE. Dark Forest Capital Management LP purchased a new position in NIKE during the second quarter worth about $333,000. The Manufacturers Life Insurance Company raised its position in NIKE by 0.5% in the second quarter. The Manufacturers Life Insurance Company now owns 841,006 shares of the footwear maker’s stock worth $63,409,000 after acquiring an additional 4,347 shares during the period. Kathmere Capital Management LLC boosted its stake in NIKE by 60.5% in the second quarter. Kathmere Capital Management LLC now owns 5,403 shares of the footwear maker’s stock valued at $407,000 after acquiring an additional 2,037 shares during the last quarter. Aviso Wealth Management raised its holdings in shares of NIKE by 55.6% in the 2nd quarter. Aviso Wealth Management now owns 5,108 shares of the footwear maker’s stock worth $385,000 after purchasing an additional 1,825 shares during the period. Finally, Creative Planning increased its position in NIKE by 7.1% in the second quarter. Creative Planning now owns 547,242 shares of the footwear maker’s stock worth $41,246,000 after buying an additional 36,290 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

NKE has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft lowered their price objective on NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research note on Monday, December 16th. JPMorgan Chase & Co. reduced their target price on NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a report on Monday, December 2nd. Bank of America cut their price objective on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Guggenheim decreased their target price on shares of NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Finally, Jefferies Financial Group boosted their price target on shares of NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Monday, September 30th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $89.96.

NIKE Stock Down 0.9 %

NKE opened at $73.60 on Monday. NIKE, Inc. has a 12 month low of $70.32 and a 12 month high of $107.43. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The business’s 50-day moving average price is $75.45 and its 200-day moving average price is $77.90. The company has a market cap of $108.86 billion, a P/E ratio of 22.72, a P/E/G ratio of 2.36 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The business had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.03 EPS. On average, equities analysts expect that NIKE, Inc. will post 2.1 EPS for the current year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were issued a dividend of $0.40 per share. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend was Monday, December 2nd. NIKE’s dividend payout ratio is currently 49.38%.

Insider Buying and Selling at NIKE

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of the stock in a transaction dated Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the purchase, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

NIKE Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.