Money Concepts Capital Corp Buys 5,068 Shares of NIKE, Inc. (NYSE:NKE)

Money Concepts Capital Corp boosted its stake in shares of NIKE, Inc. (NYSE:NKE) by 49.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,340 shares of the footwear maker’s stock after buying an additional 5,068 shares during the quarter. Money Concepts Capital Corp’s holdings in NIKE were worth $1,161,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Confluence Wealth Services Inc. raised its position in shares of NIKE by 24.7% during the fourth quarter. Confluence Wealth Services Inc. now owns 14,414 shares of the footwear maker’s stock worth $1,071,000 after acquiring an additional 2,851 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in NIKE by 18.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 203,032 shares of the footwear maker’s stock worth $15,339,000 after purchasing an additional 30,958 shares during the last quarter. Y.D. More Investments Ltd lifted its position in shares of NIKE by 4.3% in 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. lifted its position in shares of NIKE by 14.4% in the 4th quarter. Mather Group LLC. now owns 30,012 shares of the footwear maker’s stock worth $2,271,000 after purchasing an additional 3,782 shares during the period. Finally, Commonwealth Financial Services LLC acquired a new stake in shares of NIKE during the fourth quarter worth $208,000. Institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

NKE has been the topic of several recent analyst reports. Wells Fargo & Company dropped their target price on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a report on Monday, December 16th. Needham & Company LLC reissued a “buy” rating and issued a $84.00 price objective on shares of NIKE in a research note on Friday, December 20th. Barclays decreased their target price on NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. Deutsche Bank Aktiengesellschaft dropped their price target on NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research note on Monday, December 16th. Finally, Morgan Stanley reduced their price objective on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.77.

Insider Activity at NIKE

In other NIKE news, Director John W. Rogers, Jr. acquired 2,500 shares of the business’s stock in a transaction on Friday, December 27th. The shares were acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the transaction, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 1.10% of the stock is currently owned by company insiders.

NIKE Price Performance

NKE opened at $74.60 on Thursday. NIKE, Inc. has a 1 year low of $70.32 and a 1 year high of $107.43. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The company has a market capitalization of $110.34 billion, a price-to-earnings ratio of 23.02, a P/E/G ratio of 2.50 and a beta of 1.01. The firm’s fifty day moving average price is $75.53 and its two-hundred day moving average price is $78.12.

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

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a $0.40 dividend. The ex-dividend date was Monday, December 2nd. 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%. NIKE’s dividend payout ratio is currently 49.38%.

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.