Ables Iannone Moore & Associates Inc. Purchases Shares of 3,320 NIKE, Inc. (NYSE:NKE)

Ables Iannone Moore & Associates Inc. acquired a new stake in shares of NIKE, Inc. (NYSE:NKE) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 3,320 shares of the footwear maker’s stock, valued at approximately $293,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Annapolis Financial Services LLC lifted its position in shares of NIKE by 440.0% in the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after buying an additional 220 shares in the last quarter. True Wealth Design LLC raised its holdings in shares of NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after acquiring an additional 150 shares in the last quarter. Frank Rimerman Advisors LLC bought a new position in shares of NIKE during the 4th quarter valued at approximately $33,000. Core Wealth Advisors Inc. grew its holdings in shares of NIKE by 408.5% in the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after purchasing an additional 241 shares in the last quarter. Finally, Pineridge Advisors LLC purchased a new position in shares of NIKE in the fourth quarter valued at $38,000. Institutional investors own 64.25% of the company’s stock.

NIKE Trading Down 6.8 %

Shares of NYSE NKE opened at $83.10 on Thursday. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The business has a fifty day simple moving average of $80.50 and a two-hundred day simple moving average of $86.39. The firm has a market cap of $125.43 billion, a PE ratio of 22.28, a price-to-earnings-growth ratio of 2.30 and a beta of 1.02.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.18. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same period in the previous year, the company posted $0.94 earnings per share. The firm’s quarterly revenue was down 10.4% on a year-over-year basis. Analysts expect that NIKE, Inc. will post 3.04 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.78%. NIKE’s dividend payout ratio is presently 39.68%.

Wall Street Analysts Forecast Growth

Several research firms have commented on NKE. Raymond James reiterated a “market perform” rating on shares of NIKE in a research report on Friday, June 28th. Oppenheimer restated an “outperform” rating and set a $120.00 target price on shares of NIKE in a research report on Friday, June 28th. Jefferies Financial Group lifted their price target on NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Monday. Robert W. Baird boosted their price objective on NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Finally, Citigroup lowered their price objective on NIKE from $115.00 to $102.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, NIKE has an average rating of “Moderate Buy” and an average target price of $96.04.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

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.