GAMMA Investing LLC Acquires 150 Shares of NIKE, Inc. (NYSE:NKE)

GAMMA Investing LLC increased its stake in shares of NIKE, Inc. (NYSE:NKE) by 1.0% during the fourth quarter, HoldingsChannel reports. The fund owned 15,014 shares of the footwear maker’s stock after acquiring an additional 150 shares during the quarter. GAMMA Investing LLC’s holdings in NIKE were worth $1,136,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of NKE. Teachers Insurance & Annuity Association of America bought a new position in shares of NIKE during the 3rd quarter worth about $30,000. VitalStone Financial LLC grew its position in NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after buying an additional 150 shares in the last quarter. Dunhill Financial LLC increased its stake in NIKE by 52.2% during the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after acquiring an additional 169 shares during the period. Riverview Trust Co acquired a new position in NIKE in the 3rd quarter valued at approximately $52,000. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of NIKE in the 3rd quarter worth approximately $54,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Trading Down 0.5 %

Shares of NKE opened at $73.31 on Friday. The stock’s fifty day simple moving average is $77.02 and its 200-day simple moving average is $79.46. The firm has a market capitalization of $109.92 billion, a PE ratio of 21.01, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $107.43. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last released its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. During the same period in the prior year, the company posted $1.03 EPS. The company’s revenue was down 7.7% compared to the same quarter last year. As a group, research analysts predict that NIKE, Inc. will post 2.72 earnings per share for the current year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date was Monday, December 2nd. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is currently 49.38%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Morgan Stanley lowered their price objective on NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Evercore ISI dropped their price objective on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Barclays reduced their price objective on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. DA Davidson raised shares of NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Finally, Sanford C. Bernstein cut their price target on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research note on Thursday, September 19th. Fifteen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and an average price target of $89.58.

Insider Buying and Selling at NIKE

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The stock was acquired at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the acquisition, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 1.10% of the company’s stock.

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.