Capital Financial Group Inc. Co. ADV Acquires New Position in NIKE, Inc. $NKE

Capital Financial Group Inc. Co. ADV acquired a new stake in shares of NIKE, Inc. (NYSE:NKE) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 13,436 shares of the footwear maker’s stock, valued at approximately $856,000.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in NIKE by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 116,993,541 shares of the footwear maker’s stock valued at $7,453,658,000 after purchasing an additional 1,702,342 shares during the period. State Street Corp boosted its stake in NIKE by 2.2% during the 4th quarter. State Street Corp now owns 59,315,606 shares of the footwear maker’s stock valued at $3,802,807,000 after purchasing an additional 1,275,494 shares during the period. Capital World Investors boosted its stake in NIKE by 16.2% during the 4th quarter. Capital World Investors now owns 49,069,951 shares of the footwear maker’s stock valued at $3,126,246,000 after purchasing an additional 6,830,938 shares during the period. Geode Capital Management LLC boosted its stake in NIKE by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 26,442,879 shares of the footwear maker’s stock valued at $1,677,251,000 after purchasing an additional 233,925 shares during the period. Finally, Norges Bank acquired a new position in NIKE during the 4th quarter valued at about $829,956,000. Institutional investors own 64.25% of the company’s stock.

NIKE Trading Up 0.6%

Shares of NYSE:NKE opened at $45.20 on Tuesday. The company has a 50 day moving average of $44.28 and a 200-day moving average of $55.27. The firm has a market cap of $66.94 billion, a P/E ratio of 29.94, a P/E/G ratio of 1.95 and a beta of 1.12. NIKE, Inc. has a twelve month low of $41.35 and a twelve month high of $80.17. The company has a current ratio of 2.14, a quick ratio of 1.45 and a debt-to-equity ratio of 0.50.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. The company had revenue of $11.28 billion during the quarter, compared to analyst estimates of $11.23 billion. NIKE had a net margin of 4.84% and a return on equity of 16.41%. The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.54 EPS. As a group, analysts anticipate that NIKE, Inc. will post 1.49 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Monday, June 1st. NIKE’s payout ratio is presently 108.61%.

Insiders Place Their Bets

In other NIKE news, Director John W. Rogers, Jr. bought 4,000 shares of the company’s stock in a transaction that occurred on Thursday, April 9th. The shares were acquired at an average cost of $43.34 per share, for a total transaction of $173,360.00. Following the acquisition, the director directly owned 41,022 shares of the company’s stock, valued at $1,777,893.48. This trade represents a 10.80% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Elliott Hill bought 23,660 shares of the company’s stock in a transaction that occurred on Monday, April 13th. The stock was acquired at an average price of $42.27 per share, for a total transaction of $1,000,108.20. Following the completion of the acquisition, the chief executive officer directly owned 265,247 shares in the company, valued at approximately $11,211,990.69. This represents a 9.79% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders purchased 64,441 shares of company stock worth $2,734,204. Company insiders own 0.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NKE. Williams Trading reduced their target price on shares of NIKE from $80.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, April 1st. Deutsche Bank Aktiengesellschaft reduced their target price on shares of NIKE from $54.00 to $51.00 and set a “hold” rating for the company in a research note on Wednesday, April 1st. BNP Paribas Exane reduced their target price on shares of NIKE from $35.00 to $23.00 and set an “underperform” rating for the company in a research note on Wednesday, April 1st. CICC Research lowered shares of NIKE from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $69.00 to $58.00 in a research note on Monday, April 6th. Finally, Zacks Research lowered shares of NIKE from a “hold” rating to a “strong sell” rating in a research note on Monday, June 1st. Fifteen research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, NIKE presently has an average rating of “Hold” and an average target price of $60.89.

About NIKE

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).