Transcend Capital Advisors LLC Acquires 7,666 Shares of NIKE, Inc. (NYSE:NKE)

Transcend Capital Advisors LLC grew its holdings in shares of NIKE, Inc. (NYSE:NKE) by 57.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 21,098 shares of the footwear maker’s stock after acquiring an additional 7,666 shares during the quarter. Transcend Capital Advisors LLC’s holdings in NIKE were worth $1,596,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Range Financial Group LLC bought a new position in NIKE during the 4th quarter worth $642,000. Cacti Asset Management LLC acquired a new stake in shares of NIKE during the 4th quarter worth $9,987,000. Capricorn Fund Managers Ltd bought a new position in shares of NIKE in the fourth quarter worth $5,384,000. Klein Pavlis & Peasley Financial Inc. raised its stake in NIKE by 31.1% in the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock valued at $1,955,000 after purchasing an additional 6,124 shares in the last quarter. Finally, FNY Investment Advisers LLC lifted its position in NIKE by 5,745.9% during the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock worth $654,000 after purchasing an additional 8,504 shares during the period. 64.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on NKE shares. Morgan Stanley decreased their target price on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research note on Monday, December 16th. Citigroup cut NIKE from a “buy” rating to a “neutral” rating and cut their target price for the stock from $102.00 to $72.00 in a research note on Friday, February 7th. Barclays decreased their price target on NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Finally, TD Cowen dropped their price objective on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research report on Monday, November 18th. Fifteen research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.62.

NIKE Stock Down 0.9 %

Shares of NYSE:NKE opened at $76.50 on Friday. The firm has a market cap of $113.15 billion, a P/E ratio of 23.61, a P/E/G ratio of 2.50 and a beta of 1.01. NIKE, Inc. has a 12-month low of $68.62 and a 12-month high of $106.62. The business has a fifty day simple moving average of $74.31 and a 200 day simple moving average of $78.09. 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 issued its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.15. The company had revenue of $12.35 billion during 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 quarter in the prior year, the firm posted $1.03 earnings per share. Analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.40 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.09%. NIKE’s payout ratio is 49.38%.

Insider Transactions at NIKE

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

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.