Procyon Advisors LLC Has $881,000 Stock Position in NIKE, Inc. (NYSE:NKE)

Procyon Advisors LLC boosted its stake in shares of NIKE, Inc. (NYSE:NKE) by 4.2% during the fourth quarter, Holdings Channel reports. The fund owned 8,116 shares of the footwear maker’s stock after acquiring an additional 324 shares during the period. Procyon Advisors LLC’s holdings in NIKE were worth $881,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Financial Freedom LLC bought a new position in shares of NIKE in the 4th quarter valued at about $29,000. Impact Partnership Wealth LLC boosted its stake in NIKE by 220.7% during the 3rd quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock worth $25,000 after acquiring an additional 181 shares during the last quarter. Planned Solutions Inc. acquired a new stake in NIKE during the 4th quarter worth approximately $29,000. Worth Asset Management LLC acquired a new stake in shares of NIKE in the first quarter valued at approximately $32,000. Finally, Gyon Technologies Capital Management LP acquired a new stake in shares of NIKE in the fourth quarter valued at approximately $36,000. Institutional investors own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on NKE shares. DZ Bank raised shares of NIKE from a “hold” rating to a “buy” rating and set a $130.00 price objective for the company in a research report on Tuesday, December 12th. Barclays lowered their target price on NIKE from $142.00 to $114.00 and set an “overweight” rating for the company in a research note on Monday. Bank of America dropped their price objective on shares of NIKE from $125.00 to $120.00 and set a “neutral” rating for the company in a report on Monday, March 18th. Evercore ISI decreased their target price on shares of NIKE from $127.00 to $117.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd. Finally, Williams Trading reaffirmed a “sell” rating and set a $85.00 price objective (down previously from $92.00) on shares of NIKE in a research report on Monday, March 18th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $116.75.

NIKE Stock Performance

Shares of NYSE NKE traded up $0.14 during trading on Thursday, hitting $94.27. The company had a trading volume of 1,486,144 shares, compared to its average volume of 9,262,573. The stock has a 50 day simple moving average of $101.65 and a 200 day simple moving average of $103.69. The firm has a market capitalization of $143.47 billion, a P/E ratio of 27.76, a price-to-earnings-growth ratio of 1.74 and a beta of 1.10. NIKE, Inc. has a 12 month low of $88.66 and a 12 month high of $128.68. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.29. The company 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%. As a group, analysts anticipate that NIKE, Inc. will post 3.7 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 4th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date is Friday, March 1st. NIKE’s dividend payout ratio (DPR) is 43.53%.

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.