Premier Path Wealth Partners LLC Has $1.65 Million Holdings in NIKE, Inc. (NYSE:NKE)

Premier Path Wealth Partners LLC boosted its position in shares of NIKE, Inc. (NYSE:NKE) by 5.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,738 shares of the footwear maker’s stock after buying an additional 1,201 shares during the period. Premier Path Wealth Partners LLC’s holdings in NIKE were worth $1,645,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Garrison Point Advisors LLC lifted its holdings in shares of NIKE by 1.9% during the 3rd quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock worth $593,000 after acquiring an additional 126 shares during the period. Stephens Consulting LLC lifted its stake in NIKE by 20.0% during the third quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock worth $68,000 after purchasing an additional 128 shares during the last quarter. PSI Advisors LLC boosted its holdings in shares of NIKE by 26.3% in the 3rd quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock valued at $55,000 after purchasing an additional 130 shares in the last quarter. Chapin Davis Inc. increased its stake in shares of NIKE by 1.2% in the 3rd quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock valued at $1,010,000 after purchasing an additional 133 shares during the last quarter. Finally, Meridian Financial Partners LLC raised its holdings in shares of NIKE by 1.6% during the 3rd quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock worth $742,000 after buying an additional 133 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

Insider Activity at NIKE

In other news, Director John W. Rogers, Jr. bought 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The shares were bought at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the acquisition, the director now directly owns 34,403 shares in the company, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have commented on the company. Evercore ISI lowered their target price on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research report on Monday, December 16th. Guggenheim cut their target price on shares of NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Jefferies Financial Group upped their price target on shares of NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Monday, September 30th. Finally, Royal Bank of Canada cut their price objective on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a report on Thursday, November 7th. Fourteen 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, NIKE presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.96.

NIKE Trading Down 0.3 %

Shares of NKE stock opened at $70.89 on Friday. The company has a market cap of $104.85 billion, a P/E ratio of 21.88, a PEG ratio of 2.26 and a beta of 1.02. NIKE, Inc. has a fifty-two week low of $70.32 and a fifty-two week high of $107.43. The stock has a 50 day simple moving average of $75.87 and a two-hundred day simple moving average of $77.96. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22.

NIKE (NYSE:NKE) last released its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The company had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. NIKE’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.03 EPS. Research analysts forecast that NIKE, Inc. will post 2.1 earnings per share for the current year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were paid a $0.40 dividend. The ex-dividend date was Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.26%. NIKE’s dividend payout ratio (DPR) is currently 49.38%.

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.