GAMMA Investing LLC Purchases Shares of 10,606 NIKE, Inc. (NYSE:NKE)

GAMMA Investing LLC acquired a new position in NIKE, Inc. (NYSE:NKE) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 10,606 shares of the footwear maker’s stock, valued at approximately $1,077,000.

A number of other large investors have also added to or reduced their stakes in the company. Excalibur Management Corp increased its stake in NIKE by 1.9% in the 3rd quarter. Excalibur Management Corp now owns 5,148 shares of the footwear maker’s stock worth $492,000 after acquiring an additional 98 shares during the last quarter. Baxter Bros Inc. increased its stake in NIKE by 2.0% in the 3rd quarter. Baxter Bros Inc. now owns 5,045 shares of the footwear maker’s stock worth $482,000 after acquiring an additional 100 shares during the last quarter. First Pacific Financial increased its stake in NIKE by 1.3% in the 3rd quarter. First Pacific Financial now owns 8,098 shares of the footwear maker’s stock worth $774,000 after acquiring an additional 100 shares during the last quarter. Jeppson Wealth Management LLC increased its stake in NIKE by 4.5% in the 3rd quarter. Jeppson Wealth Management LLC now owns 2,315 shares of the footwear maker’s stock worth $221,000 after acquiring an additional 100 shares during the last quarter. Finally, Cairn Investment Group Inc. increased its stake in NIKE by 4.2% in the 3rd quarter. Cairn Investment Group Inc. now owns 2,500 shares of the footwear maker’s stock worth $239,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

NKE has been the topic of a number of research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $100.00 price objective (down previously from $110.00) on shares of NIKE in a research note on Friday, March 22nd. TheStreet lowered NIKE from a “b” rating to a “c+” rating in a report on Tuesday, January 9th. Citigroup decreased their price target on NIKE from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, March 14th. The Goldman Sachs Group decreased their price target on NIKE from $135.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Finally, Stifel Nicolaus decreased their price target on NIKE from $129.00 to $117.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $116.26.

NIKE Stock Performance

NKE traded down $0.15 on Tuesday, reaching $94.04. 6,579,633 shares of the stock were exchanged, compared to its average volume of 9,562,076. The company’s 50-day moving average price is $97.85 and its 200 day moving average price is $103.46. NIKE, Inc. has a fifty-two week low of $88.66 and a fifty-two week high of $128.68. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. The firm has a market capitalization of $141.94 billion, a PE ratio of 27.84, a PEG ratio of 1.82 and a beta of 1.09.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.29. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The company had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $12.28 billion. As a group, sell-side analysts forecast that NIKE, Inc. will post 3.73 EPS for the current fiscal year.

NIKE Dividend Announcement

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

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.