Navalign LLC Purchases 411 Shares of NIKE, Inc. (NYSE:NKE)

Navalign LLC boosted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 5.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,345 shares of the footwear maker’s stock after purchasing an additional 411 shares during the quarter. Navalign LLC’s holdings in NIKE were worth $906,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Moneta Group Investment Advisors LLC raised its position in NIKE by 139,649.9% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 16,813,307 shares of the footwear maker’s stock valued at $1,967,325,000 after purchasing an additional 16,801,276 shares during the period. Norges Bank bought a new position in NIKE during the fourth quarter valued at $1,345,203,000. Newport Trust Company LLC purchased a new stake in shares of NIKE in the third quarter valued at $679,775,000. Morgan Stanley lifted its holdings in shares of NIKE by 26.4% in the 4th quarter. Morgan Stanley now owns 30,720,119 shares of the footwear maker’s stock worth $3,594,561,000 after acquiring an additional 6,410,744 shares during the last quarter. Finally, Flossbach Von Storch AG boosted its stake in shares of NIKE by 433.5% during the 3rd quarter. Flossbach Von Storch AG now owns 4,128,587 shares of the footwear maker’s stock worth $394,775,000 after purchasing an additional 3,354,677 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on NKE shares. UBS Group dropped their target price on NIKE from $138.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. JPMorgan Chase & Co. decreased their target price on NIKE from $139.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, December 22nd. HSBC cut their price target on shares of NIKE from $120.00 to $115.00 and set a “hold” rating on the stock in a report on Monday, January 22nd. TD Cowen restated a “market perform” rating and issued a $104.00 target price (down from $129.00) on shares of NIKE in a research note on Friday, December 22nd. Finally, Bank of America lowered their price target on NIKE from $125.00 to $120.00 and set a “neutral” rating for the company in a report on Monday, March 18th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $116.75.

NIKE Stock Performance

Shares of NKE traded down $0.15 during trading hours on Thursday, hitting $93.98. The stock had a trading volume of 11,326,994 shares, compared to its average volume of 9,428,817. 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 quick ratio of 1.89 and a current ratio of 2.74. The firm has a 50-day moving average price of $101.52 and a 200 day moving average price of $103.63. The firm has a market capitalization of $143.03 billion, a price-to-earnings ratio of 27.63, a PEG ratio of 1.74 and a beta of 1.10.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, topping 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 business had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.28 billion. As a group, research analysts anticipate that NIKE, Inc. will post 3.7 EPS for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 4th will be given 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 of this dividend is Friday, March 1st. NIKE’s dividend payout ratio (DPR) is presently 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.