Bennett Selby Investments LP Buys 16,498 Shares of NIKE, Inc. (NYSE:NKE)

Bennett Selby Investments LP boosted its holdings in NIKE, Inc. (NYSE:NKE) by 82.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,391 shares of the footwear maker’s stock after acquiring an additional 16,498 shares during the quarter. NIKE accounts for approximately 1.1% of Bennett Selby Investments LP’s holdings, making the stock its 18th largest position. Bennett Selby Investments LP’s holdings in NIKE were worth $2,754,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of NKE. Loomis Sayles & Co. L P raised its stake in NIKE by 1,209,638.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock valued at $575,342,000 after buying an additional 6,507,856 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in NIKE by 358.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock worth $228,165,000 after buying an additional 2,357,745 shares in the last quarter. State Street Corp grew its position in shares of NIKE by 3.3% during the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock worth $5,140,796,000 after purchasing an additional 1,862,021 shares in the last quarter. Holocene Advisors LP bought a new stake in shares of NIKE during the third quarter valued at approximately $148,635,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in NIKE in the 3rd quarter worth $144,927,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NKE shares. Needham & Company LLC reiterated a “buy” rating and set a $84.00 target price on shares of NIKE in a research report on Friday, December 20th. Barclays reduced their price target on NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Wells Fargo & Company dropped their price objective on NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a report on Monday, December 16th. Evercore ISI reduced their target price on NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Finally, Stifel Nicolaus lowered their target price on shares of NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research note on Friday, December 20th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $89.96.

Insider Transactions at NIKE

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The stock was bought at an average price of $76.65 per share, with a total value of $191,625.00. Following the acquisition, the director now owns 34,403 shares in the company, valued at $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

NIKE Price Performance

Shares of NYSE NKE opened at $73.60 on Friday. The firm 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, Inc. has a 52 week low of $70.32 and a 52 week high of $107.43. The business’s 50 day moving average price is $75.52 and its 200 day moving average price is $77.86. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57.

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

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a $0.40 dividend. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.17%. NIKE’s payout ratio is presently 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.