Confluence Wealth Services Inc. Acquires 2,851 Shares of NIKE, Inc. (NYSE:NKE)

Confluence Wealth Services Inc. lifted its holdings in NIKE, Inc. (NYSE:NKE) by 24.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,414 shares of the footwear maker’s stock after acquiring an additional 2,851 shares during the period. Confluence Wealth Services Inc.’s holdings in NIKE were worth $1,071,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NKE. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of NIKE by 18.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 203,032 shares of the footwear maker’s stock valued at $15,339,000 after acquiring an additional 30,958 shares during the period. Y.D. More Investments Ltd boosted its stake in shares of NIKE by 4.3% during the 4th quarter. Y.D. More Investments Ltd now owns 7,300 shares of the footwear maker’s stock worth $552,000 after purchasing an additional 300 shares during the period. Mather Group LLC. grew its holdings in NIKE by 14.4% during the 4th quarter. Mather Group LLC. now owns 30,012 shares of the footwear maker’s stock valued at $2,271,000 after purchasing an additional 3,782 shares during the last quarter. Commonwealth Financial Services LLC purchased a new stake in NIKE in the 4th quarter worth about $208,000. Finally, Tempus Wealth Planning LLC lifted its stake in NIKE by 19.2% in the fourth quarter. Tempus Wealth Planning LLC now owns 5,834 shares of the footwear maker’s stock worth $441,000 after purchasing an additional 940 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling

In other news, Director John W. Rogers, Jr. bought 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the transaction, the director now directly owns 34,403 shares in the company, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.10% of the stock is owned by company insiders.

NIKE Stock Performance

Shares of NKE stock opened at $74.60 on Thursday. NIKE, Inc. has a 12-month low of $70.32 and a 12-month high of $107.43. The business’s fifty day simple moving average is $75.53 and its 200-day simple moving average is $78.12. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The company has a market cap of $110.34 billion, a PE ratio of 23.02, a PEG ratio of 2.50 and a beta of 1.01.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.15. The company had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.03 EPS. Analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a $0.40 dividend. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend was Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

Analyst Ratings Changes

A number of research analysts have recently commented on NKE shares. Barclays cut their target price on NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. UBS Group reiterated a “neutral” rating and issued a $73.00 target price on shares of NIKE in a research note on Thursday, December 26th. Wells Fargo & Company decreased their target price on NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a research report on Monday, December 16th. Robert W. Baird cut their price target on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, December 23rd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a report on Monday, December 2nd. Fourteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, NIKE presently has an average rating of “Moderate Buy” and an average price target of $89.77.

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.