Cacti Asset Management LLC Purchases 11,215 Shares of NIKE, Inc. $NKE

Cacti Asset Management LLC increased its position in NIKE, Inc. (NYSE:NKE) by 3.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 318,054 shares of the footwear maker’s stock after buying an additional 11,215 shares during the quarter. NIKE accounts for approximately 1.5% of Cacti Asset Management LLC’s holdings, making the stock its 19th biggest holding. Cacti Asset Management LLC’s holdings in NIKE were worth $22,044,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NKE. Mascoma Wealth Management LLC bought a new position in shares of NIKE during the second quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC increased its holdings in NIKE by 952.6% during the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 362 shares during the period. Twin Peaks Wealth Advisors LLC bought a new position in NIKE during the 2nd quarter valued at approximately $31,000. Matrix Trust Co lifted its holdings in NIKE by 53.1% in the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock worth $31,000 after buying an additional 153 shares during the period. Finally, Saudi Central Bank bought a new stake in shares of NIKE in the 1st quarter worth approximately $30,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Zacks Research upgraded NIKE from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 26th. Guggenheim upgraded shares of NIKE to a “strong-buy” rating in a report on Wednesday, December 10th. Barclays set a $70.00 target price on shares of NIKE and gave the stock a “neutral” rating in a research report on Wednesday, December 10th. Sanford C. Bernstein reiterated a “buy” rating and set a $90.00 price target on shares of NIKE in a research report on Monday, October 13th. Finally, Citigroup downgraded shares of NIKE from a “positive” rating to a “mixed” rating in a research note on Friday. Four investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $81.10.

NIKE Price Performance

Shares of NYSE:NKE opened at $67.49 on Monday. The business has a fifty day moving average price of $65.40 and a 200-day moving average price of $69.37. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45. The company has a market capitalization of $99.76 billion, a PE ratio of 34.61, a PEG ratio of 2.37 and a beta of 1.28. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $82.44.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating the consensus estimate of $0.27 by $0.22. The company had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. NIKE’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.70 EPS. As a group, equities analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be issued a dividend of $0.41 per share. The ex-dividend date is Monday, December 1st. This is a positive change from NIKE’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.4%. NIKE’s dividend payout ratio is currently 84.10%.

Insider Activity at NIKE

In other news, Director Jorgen Vig Knudstorp acquired 16,150 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was bought at an average cost of $62.09 per share, for a total transaction of $1,002,753.50. Following the acquisition, the director directly owned 21,388 shares in the company, valued at approximately $1,327,980.92. The trade was a 308.32% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Treasure Heinle sold 4,300 shares of the company’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $71.27, for a total value of $306,461.00. Following the transaction, the executive vice president directly owned 29,396 shares in the company, valued at approximately $2,095,052.92. The trade was a 12.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.80% of the stock is owned by insiders.

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.