New Jersey Better Educational Savings Trust Takes Position in NIKE, Inc. (NYSE:NKE)

New Jersey Better Educational Savings Trust purchased a new stake in shares of NIKE, Inc. (NYSE:NKE) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 2,001 shares of the footwear maker’s stock, valued at approximately $217,000.

A number of other large investors also recently bought and sold shares of the business. Impact Partnership Wealth LLC raised its holdings in NIKE by 220.7% in the third quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock worth $25,000 after buying an additional 181 shares during the last quarter. Meridian Wealth Management LLC raised its holdings in NIKE by 98.3% in the third quarter. Meridian Wealth Management LLC now owns 10,074 shares of the footwear maker’s stock worth $963,000 after buying an additional 4,995 shares during the last quarter. Strategic Blueprint LLC raised its holdings in NIKE by 5.3% in the third quarter. Strategic Blueprint LLC now owns 8,593 shares of the footwear maker’s stock worth $822,000 after buying an additional 431 shares during the last quarter. Ballast Inc. raised its holdings in NIKE by 13.7% in the third quarter. Ballast Inc. now owns 10,331 shares of the footwear maker’s stock worth $988,000 after buying an additional 1,246 shares during the last quarter. Finally, DeDora Capital Inc. raised its holdings in NIKE by 13.1% in the third quarter. DeDora Capital Inc. now owns 7,361 shares of the footwear maker’s stock worth $704,000 after buying an additional 850 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NKE. TheStreet cut shares of NIKE from a “b” rating to a “c+” rating in a report on Tuesday, January 9th. HSBC decreased their price objective on shares of NIKE from $120.00 to $115.00 and set a “hold” rating for the company in a report on Monday, January 22nd. Bank of America raised shares of NIKE from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $110.00 to $113.00 in a report on Thursday, April 11th. Stifel Nicolaus decreased their price objective on shares of NIKE from $129.00 to $117.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Finally, The Goldman Sachs Group decreased their price objective on shares of NIKE from $135.00 to $120.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have given a buy rating to the company. According to MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and an average price target of $116.26.

NIKE Price Performance

NYSE NKE traded down $0.70 on Thursday, hitting $93.94. The company had a trading volume of 5,296,510 shares, compared to its average volume of 9,470,656. The company has a market capitalization of $141.79 billion, a PE ratio of 27.84, a PEG ratio of 1.81 and a beta of 1.08. The company’s fifty day moving average price is $97.39 and its 200-day moving average price is $103.38. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. NIKE, Inc. has a 12-month low of $88.66 and a 12-month high of $128.68.

NIKE (NYSE:NKE) last released its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $12.28 billion. As a group, analysts predict that NIKE, Inc. will post 3.73 earnings per share for the current 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 dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend was Friday, March 1st. NIKE’s payout ratio is 43.53%.

NIKE 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.