Ballast Inc. Raises Stake in NIKE, Inc. (NYSE:NKE)

Ballast Inc. lifted its stake in NIKE, Inc. (NYSE:NKE) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,499 shares of the footwear maker’s stock after purchasing an additional 168 shares during the period. Ballast Inc.’s holdings in NIKE were worth $1,140,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in NKE. Impact Partnership Wealth LLC grew its holdings in shares of NIKE by 220.7% in the 3rd quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock worth $25,000 after acquiring an additional 181 shares during the period. Planned Solutions Inc. acquired a new stake in NIKE in the fourth quarter valued at $29,000. Financial Freedom LLC purchased a new position in shares of NIKE in the fourth quarter valued at $29,000. Worth Asset Management LLC purchased a new stake in shares of NIKE in the 1st quarter worth about $32,000. Finally, Raleigh Capital Management Inc. grew its stake in NIKE by 134.2% in the 3rd quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock valued at $36,000 after acquiring an additional 216 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

NYSE:NKE opened at $93.98 on Friday. NIKE, Inc. has a one year low of $88.66 and a one year high of $128.68. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. The stock has a market cap of $143.03 billion, a P/E ratio of 27.64, a PEG ratio of 1.76 and a beta of 1.10. The company has a fifty day moving average price of $101.52 and a 200 day moving average price of $103.63.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, March 21st. The footwear maker reported $0.98 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 analysts’ expectations of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. Analysts anticipate that NIKE, Inc. will post 3.72 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Monday, March 4th will be given a $0.37 dividend. The ex-dividend date of this dividend is Friday, March 1st. This represents a $1.48 annualized dividend and a yield of 1.57%. NIKE’s payout ratio is 43.53%.

Analyst Ratings Changes

Several analysts have issued reports on NKE shares. JPMorgan Chase & Co. reduced their price target on shares of NIKE from $139.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, December 22nd. TheStreet lowered NIKE from a “b” rating to a “c+” rating in a research note on Tuesday, January 9th. Wedbush reiterated an “outperform” rating and set a $115.00 price objective on shares of NIKE in a research report on Wednesday. Williams Trading restated a “sell” rating and issued a $85.00 target price (down from $92.00) on shares of NIKE in a report on Monday, March 18th. Finally, Evercore ISI reduced their price target on NIKE from $127.00 to $117.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and a consensus price target of $116.52.

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.