Power Wealth Management LLC Invests $619,000 in NIKE, Inc. (NYSE:NKE)

Power Wealth Management LLC purchased a new stake in NIKE, Inc. (NYSE:NKE) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,701 shares of the footwear maker’s stock, valued at approximately $619,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Iron Horse Wealth Management LLC grew its holdings in NIKE by 120.7% during the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 140 shares in the last quarter. Planned Solutions Inc. purchased a new stake in shares of NIKE in the 4th quarter worth approximately $29,000. Mizuho Securities Co. Ltd. boosted its stake in shares of NIKE by 100.0% during the fourth quarter. Mizuho Securities Co. Ltd. now owns 340 shares of the footwear maker’s stock valued at $37,000 after purchasing an additional 170 shares in the last quarter. NewSquare Capital LLC increased its holdings in NIKE by 372.0% during the fourth quarter. NewSquare Capital LLC now owns 354 shares of the footwear maker’s stock valued at $38,000 after buying an additional 279 shares during the period. Finally, Raleigh Capital Management Inc. raised its stake in NIKE by 134.2% in the third quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock worth $36,000 after buying an additional 216 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Down 0.3 %

NYSE:NKE traded down $0.26 during trading hours on Friday, hitting $92.15. The company’s stock had a trading volume of 5,736,711 shares, compared to its average volume of 8,740,078. The stock has a market capitalization of $139.09 billion, a P/E ratio of 27.10, a price-to-earnings-growth ratio of 1.78 and a beta of 1.07. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. The stock has a fifty day moving average of $95.73 and a 200-day moving average of $103.05. NIKE, Inc. has a 52-week low of $88.66 and a 52-week high of $127.69.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. The business had revenue of $12.43 billion for the quarter, compared to the consensus estimate of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. On average, equities analysts forecast that NIKE, Inc. will post 3.73 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.61%. NIKE’s dividend payout ratio is presently 43.53%.

Analyst Upgrades and Downgrades

NKE has been the topic of several recent research reports. Telsey Advisory Group dropped their target price on NIKE from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Monday, March 18th. Evercore ISI cut their target price on NIKE from $127.00 to $117.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd. HSBC decreased their price target on shares of NIKE from $120.00 to $115.00 and set a “hold” rating for the company in a research report on Monday, January 22nd. Robert W. Baird reduced their price objective on shares of NIKE from $140.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Finally, Barclays lowered their target price on shares of NIKE from $142.00 to $114.00 and set an “overweight” rating for the company in a research note on Monday, March 25th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.26.

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.