Peachtree Investment Partners LLC Takes $1.26 Million Position in Nike Inc (NKE)

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Peachtree Investment Partners LLC bought a new position in shares of Nike Inc (NYSE:NKE) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 16,931 shares of the footwear maker’s stock, valued at approximately $1,255,000. Nike comprises approximately 1.4% of Peachtree Investment Partners LLC’s investment portfolio, making the stock its 20th biggest position.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Next Capital Management LLC purchased a new stake in Nike in the 4th quarter valued at about $26,000. Gemmer Asset Management LLC raised its holdings in Nike by 54.2% in the 4th quarter. Gemmer Asset Management LLC now owns 427 shares of the footwear maker’s stock valued at $32,000 after buying an additional 150 shares during the period. Clarfeld Financial Advisors LLC purchased a new stake in Nike in the 4th quarter valued at about $34,000. Acima Private Wealth LLC purchased a new stake in Nike in the 4th quarter valued at about $39,000. Finally, Proffitt & Goodson Inc. purchased a new stake in Nike in the 4th quarter valued at about $44,000. 65.62% of the stock is currently owned by institutional investors.

In other Nike news, EVP Monique S. Matheson sold 16,500 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $88.21, for a total value of $1,455,465.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 150,000 shares of the stock in a transaction on Wednesday, January 16th. The stock was sold at an average price of $78.00, for a total value of $11,700,000.00. Following the completion of the transaction, the chairman now owns 1,687,863 shares of the company’s stock, valued at approximately $131,653,314. The disclosure for this sale can be found here. Insiders sold 576,500 shares of company stock valued at $46,807,665 in the last quarter. 3.90% of the stock is currently owned by company insiders.

Several analysts recently issued reports on the stock. Bank of America boosted their price objective on shares of Nike from $55.00 to $60.00 and gave the company an “underperform” rating in a report on Tuesday, March 19th. Credit Suisse Group restated a “buy” rating and issued a $97.00 price objective on shares of Nike in a report on Friday, March 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Nike from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Goldman Sachs Group set a $85.00 price objective on shares of Nike and gave the company a “neutral” rating in a report on Tuesday, March 19th. Finally, Canaccord Genuity set a $96.00 price objective on shares of Nike and gave the company a “buy” rating in a report on Monday, March 18th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $86.93.

NYSE:NKE opened at $84.47 on Thursday. The firm has a market capitalization of $132.78 billion, a price-to-earnings ratio of 34.90, a price-to-earnings-growth ratio of 2.54 and a beta of 0.67. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.17 and a quick ratio of 1.43. Nike Inc has a 1 year low of $64.99 and a 1 year high of $88.59.

Nike (NYSE:NKE) last released its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.03. The firm had revenue of $9.61 billion during the quarter, compared to analysts’ expectations of $9.60 billion. Nike had a return on equity of 45.78% and a net margin of 10.79%. Nike’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.68 earnings per share. As a group, sell-side analysts anticipate that Nike Inc will post 2.55 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.04%. The ex-dividend date was Friday, March 1st. Nike’s payout ratio is 36.36%.

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Nike Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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