Providence Capital Advisors LLC Increases Holdings in NIKE, Inc. (NYSE:NKE)

Providence Capital Advisors LLC boosted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 1.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 79,737 shares of the footwear maker’s stock after buying an additional 953 shares during the quarter. Providence Capital Advisors LLC’s holdings in NIKE were worth $6,034,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of NKE. State Street Corp raised its stake in NIKE by 3.3% during the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock worth $5,140,796,000 after acquiring an additional 1,862,021 shares during the period. Wellington Management Group LLP boosted its holdings in NIKE by 5.1% in the 3rd quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock worth $2,425,886,000 after buying an additional 1,343,093 shares during the period. Geode Capital Management LLC raised its holdings in NIKE by 1.0% during the third quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock valued at $2,204,451,000 after acquiring an additional 251,411 shares during the period. Bank of New York Mellon Corp lifted its holdings in NIKE by 18.1% in the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock worth $1,541,246,000 after purchasing an additional 3,121,929 shares in the last quarter. Finally, Norges Bank bought a new position in shares of NIKE during the fourth quarter worth $1,126,288,000. Institutional investors own 64.25% of the company’s stock.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.10% of the company’s stock.

NIKE Trading Up 0.2 %

Shares of NYSE:NKE opened at $65.87 on Friday. The firm has a market capitalization of $97.42 billion, a P/E ratio of 20.33, a P/E/G ratio of 2.52 and a beta of 1.02. NIKE, Inc. has a 1 year low of $64.95 and a 1 year high of $98.04. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The business’s 50-day moving average is $74.31 and its 200 day moving average is $77.05.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. The business had revenue of $11.27 billion during 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 company’s revenue was down 9.1% on a year-over-year basis. During the same quarter last year, the business posted $0.98 EPS. On average, research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid 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 2.43%. NIKE’s dividend payout ratio (DPR) is presently 53.16%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NKE. Evercore ISI decreased their target price on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Jefferies Financial Group raised shares of NIKE from a “hold” rating to a “buy” rating and increased their target price for the company from $75.00 to $115.00 in a research note on Monday, February 24th. Stifel Nicolaus dropped their price target 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. Dbs Bank raised shares of NIKE from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Finally, UBS Group dropped their target price on NIKE from $73.00 to $66.00 and set a “neutral” rating for the company in a research report on Friday, March 21st. Fifteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $87.38.

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.