TCG Advisory Services LLC Makes New Investment in NIKE, Inc. (NYSE:NKE)

TCG Advisory Services LLC acquired a new position in shares of NIKE, Inc. (NYSE:NKE) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,680 shares of the footwear maker’s stock, valued at approximately $291,000.

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

Analyst Upgrades and Downgrades

NKE has been the subject of several recent analyst reports. Williams Trading reissued a “sell” rating and issued a $85.00 price target (down previously from $92.00) on shares of NIKE in a research note on Monday, March 18th. HSBC cut their target price on shares of NIKE from $120.00 to $115.00 and set a “hold” rating for the company in a research note on Monday, January 22nd. UBS Group dropped their price target on shares of NIKE from $138.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Jefferies Financial Group reduced their price target on shares of NIKE from $110.00 to $100.00 and set a “hold” rating for the company in a research report on Friday, March 22nd. Finally, TheStreet cut shares of NIKE from a “b” rating to a “c+” rating in a report on Tuesday, January 9th. Two equities research 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 MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $116.26.

NIKE Price Performance

Shares of NKE stock traded up $0.81 during trading hours on Monday, hitting $92.96. 1,534,504 shares of the company’s stock were exchanged, compared to its average volume of 9,189,548. 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, Inc. has a 12-month low of $88.66 and a 12-month high of $127.69. The business’s 50 day simple moving average is $95.73 and its 200-day simple moving average is $103.04. The company has a market capitalization of $140.31 billion, a PE ratio of 27.10, a PEG ratio of 1.78 and a beta of 1.07.

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

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Monday, June 3rd. NIKE’s dividend payout ratio (DPR) is presently 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.