Pacific Capital Wealth Advisors Inc. Invests $196,000 in NIKE, Inc. (NYSE:NKE)

Pacific Capital Wealth Advisors Inc. purchased a new stake in NIKE, Inc. (NYSE:NKE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,804 shares of the footwear maker’s stock, valued at approximately $196,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Oliver Luxxe Assets LLC lifted its position in NIKE by 2.9% during the third quarter. Oliver Luxxe Assets LLC now owns 37,510 shares of the footwear maker’s stock worth $3,587,000 after purchasing an additional 1,041 shares during the period. Louisiana State Employees Retirement System acquired a new stake in shares of NIKE during the 4th quarter worth approximately $8,034,000. Financial Gravity Asset Management Inc. increased its stake in NIKE by 2,332.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 184,042 shares of the footwear maker’s stock valued at $17,598,000 after acquiring an additional 176,476 shares during the last quarter. International Assets Investment Management LLC raised its position in NIKE by 10,184.3% during the fourth quarter. International Assets Investment Management LLC now owns 388,131 shares of the footwear maker’s stock valued at $42,139,000 after purchasing an additional 384,357 shares in the last quarter. Finally, Franklin Street Advisors Inc. NC lifted its stake in NIKE by 55.6% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 194,164 shares of the footwear maker’s stock worth $21,080,000 after purchasing an additional 69,363 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Down 0.2 %

NIKE stock traded down $0.19 during trading on Wednesday, hitting $93.59. 5,372,445 shares of the company were exchanged, compared to its average volume of 9,174,146. The company has a market capitalization of $141.26 billion, a P/E ratio of 27.53, a PEG ratio of 1.78 and a beta of 1.07. The business’s 50 day moving average is $95.28 and its 200 day moving average is $102.91. NIKE, Inc. has a 52 week low of $88.66 and a 52 week high of $126.46. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63.

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. The firm had revenue of $12.43 billion during the quarter, compared to analyst estimates of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. 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 will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a $0.37 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.58%. NIKE’s payout ratio is presently 43.53%.

Insider Activity

In other NIKE news, EVP Monique S. Matheson sold 45,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the transaction, the executive vice president now owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Evercore ISI decreased their target price on NIKE from $127.00 to $117.00 and set an “outperform” rating on the stock in a research report on Friday, March 22nd. Stifel Nicolaus decreased their target price on shares of NIKE from $129.00 to $117.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Telsey Advisory Group dropped their price target on NIKE from $140.00 to $120.00 and set an “outperform” rating for the company in a research note on Monday, March 18th. TheStreet lowered NIKE from a “b” rating to a “c+” rating in a research note on Tuesday, January 9th. Finally, Wells Fargo & Company dropped their price objective on shares of NIKE from $125.00 to $120.00 and set an “overweight” rating for the company in a report on Friday, March 22nd. Two investment 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’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $116.26.

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.