B&D White Capital Company LLC Buys New Stake in NIKE, Inc. (NYSE:NKE)

B&D White Capital Company LLC purchased a new stake in shares of NIKE, Inc. (NYSE:NKE) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 30,100 shares of the footwear maker’s stock, valued at approximately $3,268,000. NIKE accounts for about 1.0% of B&D White Capital Company LLC’s investment portfolio, making the stock its 24th biggest position.

Several other hedge funds also recently modified their holdings of NKE. Oliver Luxxe Assets LLC boosted its position in shares of NIKE by 2.9% in the third quarter. Oliver Luxxe Assets LLC now owns 37,510 shares of the footwear maker’s stock valued at $3,587,000 after acquiring an additional 1,041 shares during the period. Louisiana State Employees Retirement System bought a new stake in NIKE during the 4th quarter worth about $8,034,000. Financial Gravity Asset Management Inc. lifted its position in NIKE by 2,332.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 184,042 shares of the footwear maker’s stock valued at $17,598,000 after purchasing an additional 176,476 shares during the period. International Assets Investment Management LLC raised its holdings in NIKE by 10,184.3% during the 4th quarter. International Assets Investment Management LLC now owns 388,131 shares of the footwear maker’s stock worth $42,139,000 after buying an additional 384,357 shares during the period. Finally, Franklin Street Advisors Inc. NC grew its stake in shares of NIKE by 55.6% during the 4th quarter. Franklin Street Advisors Inc. NC now owns 194,164 shares of the footwear maker’s stock worth $21,080,000 after acquiring an additional 69,363 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Price Performance

Shares of NKE stock traded up $1.52 during trading hours on Monday, reaching $93.52. The company had a trading volume of 5,178,289 shares, compared to its average volume of 9,473,479. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. The stock has a fifty day moving average of $98.96 and a 200-day moving average of $103.47. The company has a market capitalization of $141.16 billion, a price-to-earnings ratio of 27.06, a PEG ratio of 1.79 and a beta of 1.09. NIKE, Inc. has a 12-month low of $88.66 and a 12-month high of $128.68.

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

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date was Friday, March 1st. NIKE’s dividend payout ratio is presently 43.53%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. UBS Group reduced their price objective on shares of NIKE from $138.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Wells Fargo & Company reduced their price target on NIKE from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday, March 22nd. Bank of America raised NIKE from a “neutral” rating to a “buy” rating and boosted their price target for the company from $110.00 to $113.00 in a research note on Thursday. Morgan Stanley lowered their target price on NIKE from $124.00 to $116.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 27th. Finally, Jefferies Financial Group reduced their price objective on NIKE from $110.00 to $100.00 and set a “hold” rating for the company in a research note on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and a consensus price target of $116.26.

About NIKE

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.