NIKE, Inc. (NYSE:NKE) Shares Bought by GPM Growth Investors Inc.

GPM Growth Investors Inc. grew its holdings in NIKE, Inc. (NYSE:NKE) by 1.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,620 shares of the footwear maker’s stock after purchasing an additional 400 shares during the quarter. NIKE comprises approximately 1.6% of GPM Growth Investors Inc.’s portfolio, making the stock its 27th largest holding. GPM Growth Investors Inc.’s holdings in NIKE were worth $3,324,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Newport Trust Company LLC acquired a new position in NIKE in the third quarter valued at approximately $679,775,000. Flossbach Von Storch AG lifted its stake in shares of NIKE by 433.5% in the 3rd quarter. Flossbach Von Storch AG now owns 4,128,587 shares of the footwear maker’s stock valued at $394,775,000 after purchasing an additional 3,354,677 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of NIKE by 117.0% during the 3rd quarter. Van ECK Associates Corp now owns 2,986,441 shares of the footwear maker’s stock worth $285,564,000 after purchasing an additional 1,610,273 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of NIKE by 37.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,791,531 shares of the footwear maker’s stock worth $553,786,000 after purchasing an additional 1,583,541 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new stake in NIKE in the 3rd quarter valued at about $97,724,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on NKE shares. Royal Bank of Canada restated a “sector perform” rating and issued a $100.00 price objective (down from $110.00) on shares of NIKE in a report on Friday, March 22nd. Morgan Stanley reduced their target price on shares of NIKE from $124.00 to $116.00 and set an “overweight” rating on the stock in a report on Wednesday, March 27th. Sanford C. Bernstein dropped their price target on shares of NIKE from $134.00 to $120.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. HSBC reduced their price objective on NIKE from $120.00 to $115.00 and set a “hold” rating on the stock in a research note on Monday, January 22nd. Finally, Wedbush reissued an “outperform” rating and set a $115.00 target price on shares of NIKE in a research note on Tuesday. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $116.26.

NIKE Stock Performance

Shares of NIKE stock traded down $1.15 on Tuesday, reaching $92.91. 2,418,531 shares of the stock were exchanged, compared to its average volume of 9,289,777. The firm has a market capitalization of $140.23 billion, a PE ratio of 27.42, a PEG ratio of 1.82 and a beta of 1.09. NIKE, Inc. has a 1-year low of $88.66 and a 1-year high of $128.68. The business has a fifty day moving average price of $96.78 and a two-hundred day moving average price of $103.33. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. The firm had revenue of $12.43 billion for the quarter, compared to the consensus estimate of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. As a group, research analysts anticipate that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.59%. The ex-dividend date was Friday, March 1st. NIKE’s dividend payout ratio (DPR) is 43.53%.

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.