New Age Alpha Advisors LLC Takes $3.32 Million Position in NIKE, Inc. (NYSE:NKE)

New Age Alpha Advisors LLC bought a new stake in NIKE, Inc. (NYSE:NKE) during the 4th quarter, HoldingsChannel.com reports. The fund bought 43,844 shares of the footwear maker’s stock, valued at approximately $3,318,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NKE. Providence Capital Advisors LLC increased its holdings in shares of NIKE by 1.2% in the fourth quarter. Providence Capital Advisors LLC now owns 79,737 shares of the footwear maker’s stock valued at $6,034,000 after purchasing an additional 953 shares during the period. Norges Bank purchased a new stake in NIKE in the fourth quarter valued at approximately $1,126,288,000. Caisse Des Depots ET Consignations acquired a new position in NIKE in the 4th quarter worth approximately $150,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in NIKE during the 4th quarter worth approximately $2,497,000. Finally, AssuredPartners Investment Advisors LLC acquired a new stake in NIKE during the 4th quarter valued at approximately $259,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the sale, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is currently owned by corporate insiders.

NIKE Price Performance

NIKE stock opened at $63.32 on Friday. The company has a fifty day simple moving average of $74.16 and a 200-day simple moving average of $76.93. The firm has a market capitalization of $93.65 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 2.52 and a beta of 1.02. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 52-week low of $63.14 and a 52-week high of $98.04.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $11.27 billion during the quarter, compared to analysts’ expectations of $11.02 billion. During the same quarter in the prior year, the company earned $0.98 EPS. NIKE’s revenue was down 9.1% compared to the same quarter last year. On average, equities analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.53%. NIKE’s payout ratio is 53.16%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Bank of America cut their price objective on shares of NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Citigroup downgraded NIKE from a “buy” rating to a “neutral” rating and cut their price target for the stock from $102.00 to $72.00 in a research report on Friday, February 7th. Deutsche Bank Aktiengesellschaft decreased their price objective on NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a report on Monday, December 16th. Morgan Stanley dropped their target price on NIKE from $72.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, March 21st. Finally, Robert W. Baird decreased their price target on NIKE from $105.00 to $99.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Fifteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, NIKE has an average rating of “Moderate Buy” and a consensus target price of $87.38.

About NIKE

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.