Heritage Wealth Management Inc. CA Increases Stock Position in NIKE, Inc. (NYSE:NKE)

Heritage Wealth Management Inc. CA increased its holdings in NIKE, Inc. (NYSE:NKE) by 807.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,283 shares of the footwear maker’s stock after purchasing an additional 3,811 shares during the quarter. Heritage Wealth Management Inc. CA’s holdings in NIKE were worth $324,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Heck Capital Advisors LLC bought a new position in shares of NIKE in the 4th quarter worth $28,000. Caitlin John LLC raised its holdings in NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 200 shares in the last quarter. Teachers Insurance & Annuity Association of America purchased a new stake in shares of NIKE during the third quarter valued at about $30,000. Roxbury Financial LLC bought a new stake in shares of NIKE in the 4th quarter valued at about $30,000. Finally, LFA Lugano Financial Advisors SA grew its position in shares of NIKE by 110.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after buying an additional 210 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the stock in a transaction on Friday, December 27th. The shares were bought at an average price of $76.65 per share, with a total value of $191,625.00. Following the purchase, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the sale, the chairman now owns 896,632 shares of the company’s stock, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

NKE has been the subject of a number of analyst reports. Needham & Company LLC decreased their target price on shares of NIKE from $84.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, March 17th. Telsey Advisory Group reissued a “market perform” rating and issued a $80.00 price objective on shares of NIKE in a research report on Monday, March 17th. China Renaissance began coverage on NIKE in a research report on Wednesday, March 19th. They set a “hold” rating on the stock. Evercore ISI lowered their price target on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Finally, Dbs Bank upgraded shares of NIKE from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Fifteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and an average price target of $87.38.

NIKE Stock Performance

Shares of NKE stock opened at $67.45 on Tuesday. The company has a market capitalization of $99.76 billion, a P/E ratio of 20.82, a P/E/G ratio of 2.52 and a beta of 1.02. NIKE, Inc. has a 12-month low of $65.17 and a 12-month high of $98.04. The business’s 50 day moving average is $74.61 and its two-hundred day moving average is $77.31. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. The firm had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business’s revenue was down 9.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.98 EPS. Analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.37%. NIKE’s dividend payout ratio is currently 53.16%.

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.