New York Life Investment Management LLC Raises Holdings in NIKE, Inc. (NYSE:NKE)

New York Life Investment Management LLC increased its position in NIKE, Inc. (NYSE:NKE) by 1.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 196,363 shares of the footwear maker’s stock after buying an additional 2,382 shares during the period. New York Life Investment Management LLC’s holdings in NIKE were worth $21,319,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NKE. Excalibur Management Corp increased its stake in shares of NIKE by 1.9% in the 3rd quarter. Excalibur Management Corp now owns 5,148 shares of the footwear maker’s stock valued at $492,000 after purchasing an additional 98 shares in the last quarter. Jeppson Wealth Management LLC grew 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 valued at $221,000 after acquiring an additional 100 shares during the period. Cairn Investment Group Inc. increased its holdings 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 in the last quarter. Tiemann Investment Advisors LLC raised its position in NIKE by 3.1% during the third quarter. Tiemann Investment Advisors LLC now owns 3,340 shares of the footwear maker’s stock worth $319,000 after acquiring an additional 100 shares during the period. Finally, Piscataqua Savings Bank lifted its holdings in NIKE by 2.1% during the fourth quarter. Piscataqua Savings Bank now owns 4,861 shares of the footwear maker’s stock valued at $528,000 after purchasing an additional 100 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

NIKE Stock Down 2.1 %

NIKE stock traded down $1.92 during mid-day trading on Wednesday, hitting $90.34. The company had a trading volume of 9,719,760 shares, compared to its average volume of 9,345,495. The business has a fifty day moving average of $96.55 and a 200 day moving average of $103.28. NIKE, Inc. has a 1 year low of $88.66 and a 1 year high of $128.38. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. The stock has a market cap of $136.36 billion, a price-to-earnings ratio of 26.57, a PEG ratio of 1.81 and a beta of 1.08.

NIKE (NYSE:NKE) last released its quarterly earnings data 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. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The company had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.28 billion. On average, sell-side analysts expect that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced 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 of this dividend was Friday, March 1st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.64%. NIKE’s payout ratio is 43.53%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Evercore ISI decreased their price target on shares of NIKE from $127.00 to $117.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd. The Goldman Sachs Group lowered their target price on shares of NIKE from $135.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Oppenheimer downgraded shares of NIKE from an “outperform” rating to a “market perform” rating and set a $110.00 price target on the stock. in a research note on Friday, February 16th. Citigroup cut their price objective on shares of NIKE from $135.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, March 14th. Finally, Jefferies Financial Group lowered their target price on NIKE from $110.00 to $100.00 and set a “hold” rating on the stock in a report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $116.26.

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.