Procyon Advisors LLC Purchases 324 Shares of NIKE, Inc. (NYSE:NKE)

Procyon Advisors LLC lifted its position in shares of NIKE, Inc. (NYSE:NKE) by 4.2% in the fourth quarter, HoldingsChannel reports. The fund owned 8,116 shares of the footwear maker’s stock after buying an additional 324 shares during the period. Procyon Advisors LLC’s holdings in NIKE were worth $881,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vestcor Inc grew its position in NIKE by 0.3% during the 4th quarter. Vestcor Inc now owns 29,977 shares of the footwear maker’s stock worth $3,508,000 after acquiring an additional 81 shares during the last quarter. Excalibur Management Corp grew its position in NIKE by 1.9% during the 3rd quarter. Excalibur Management Corp now owns 5,148 shares of the footwear maker’s stock worth $492,000 after acquiring an additional 98 shares during the last quarter. M Holdings Securities Inc. grew its position in shares of NIKE by 2.7% in the 1st quarter. M Holdings Securities Inc. now owns 3,775 shares of the footwear maker’s stock valued at $463,000 after buying an additional 100 shares during the last quarter. Bond & Devick Financial Network Inc. grew its position in shares of NIKE by 1.3% in the 3rd quarter. Bond & Devick Financial Network Inc. now owns 7,540 shares of the footwear maker’s stock valued at $721,000 after buying an additional 100 shares during the last quarter. Finally, Baxter Bros Inc. grew its position in shares of NIKE by 2.0% in the 3rd quarter. Baxter Bros Inc. now owns 5,045 shares of the footwear maker’s stock valued at $482,000 after buying an additional 100 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on NKE. TheStreet lowered NIKE from a “b” rating to a “c+” rating in a research report on Tuesday, January 9th. Citigroup reduced their price target on NIKE from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, March 14th. Evercore ISI dropped their price objective on NIKE from $127.00 to $117.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd. Wedbush reissued an “outperform” rating and issued a $115.00 price objective on shares of NIKE in a research note on Wednesday. Finally, TD Cowen reissued a “market perform” rating and issued a $104.00 price objective (down from $129.00) on shares of NIKE in a research note on Friday, December 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $116.75.

NIKE Stock Up 0.1 %

NIKE stock traded up $0.14 during trading hours on Thursday, hitting $94.27. 1,486,144 shares of the stock traded hands, compared to its average volume of 9,262,573. The firm’s 50-day moving average price is $101.65 and its two-hundred day moving average price is $103.69. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. The company has a market cap of $143.47 billion, a PE ratio of 27.76, a PEG ratio of 1.74 and a beta of 1.10. NIKE, Inc. has a one year low of $88.66 and a one year high of $128.68.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.29. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The company had revenue of $12.43 billion during the quarter, compared to analyst estimates of $12.28 billion. On average, research analysts forecast that NIKE, Inc. will post 3.7 EPS for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Monday, March 4th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Friday, March 1st. NIKE’s payout ratio is currently 43.53%.

NIKE Company 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.