Tennessee Valley Asset Management Partners Takes $51,000 Position in NIKE, Inc. (NYSE:NKE)

Tennessee Valley Asset Management Partners acquired a new position in NIKE, Inc. (NYSE:NKE) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 472 shares of the footwear maker’s stock, valued at approximately $51,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Impact Partnership Wealth LLC boosted its holdings in shares of 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. Iron Horse Wealth Management LLC boosted its holdings in shares of NIKE by 120.7% in the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after buying an additional 140 shares during the last quarter. Planned Solutions Inc. purchased a new position in shares of NIKE in the fourth quarter worth approximately $29,000. Raleigh Capital Management Inc. boosted its holdings in shares of NIKE by 134.2% in the third quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock worth $36,000 after buying an additional 216 shares during the last quarter. Finally, Stephens Consulting LLC boosted its holdings in shares of NIKE by 160.0% in the third quarter. Stephens Consulting LLC now owns 390 shares of the footwear maker’s stock worth $37,000 after buying an additional 240 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

NKE has been the topic of a number of research reports. Robert W. Baird dropped their price objective on shares of NIKE from $140.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, March 22nd. Oppenheimer cut shares of NIKE from an “outperform” rating to a “market perform” rating and set a $110.00 target price on the stock. in a research note on Friday, February 16th. Williams Trading restated a “sell” rating and set a $85.00 target price (down previously from $92.00) on shares of NIKE in a research note on Monday, March 18th. Jefferies Financial Group decreased their target price on shares of NIKE from $110.00 to $100.00 and set a “hold” rating on the stock in a research note on Friday, March 22nd. Finally, TheStreet cut shares of NIKE from a “b” rating to a “c+” rating in a research note on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $116.26.

NIKE Stock Performance

NYSE NKE opened at $94.04 on Wednesday. The business’s 50 day moving average price is $97.63 and its 200-day moving average price is $103.44. NIKE, Inc. has a fifty-two week low of $88.66 and a fifty-two week high of $128.68. The company has a market cap of $141.94 billion, a P/E ratio of 27.66, a P/E/G ratio of 1.82 and a beta of 1.09. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $12.28 billion. Sell-side analysts predict that NIKE, Inc. will post 3.73 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were issued a dividend of $0.37 per share. The ex-dividend date was Friday, March 1st. This represents a $1.48 annualized dividend and a yield of 1.57%. NIKE’s payout ratio 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.