Tennessee Valley Asset Management Partners Makes New $51,000 Investment in NIKE, Inc. (NYSE:NKE)

Tennessee Valley Asset Management Partners acquired a new stake in NIKE, Inc. (NYSE:NKE) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 472 shares of the footwear maker’s stock, valued at approximately $51,000.

A number of other large investors have also recently made changes to their positions in NKE. Impact Partnership Wealth LLC lifted its stake 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 valued at $25,000 after buying an additional 181 shares in the last quarter. Meridian Wealth Management LLC lifted its stake in shares of NIKE by 98.3% in the third quarter. Meridian Wealth Management LLC now owns 10,074 shares of the footwear maker’s stock valued at $963,000 after buying an additional 4,995 shares in the last quarter. CreativeOne Wealth LLC lifted its stake in shares of NIKE by 126.0% in the third quarter. CreativeOne Wealth LLC now owns 17,696 shares of the footwear maker’s stock valued at $1,692,000 after buying an additional 9,865 shares in the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of NIKE by 3.6% in the third quarter. Exchange Traded Concepts LLC now owns 96,911 shares of the footwear maker’s stock valued at $9,267,000 after buying an additional 3,401 shares in the last quarter. Finally, Private Trust Co. NA lifted its stake in shares of NIKE by 3.9% in the third quarter. Private Trust Co. NA now owns 21,133 shares of the footwear maker’s stock valued at $2,021,000 after buying an additional 794 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

NIKE Stock Performance

Shares of NKE stock opened at $94.04 on Wednesday. The stock has a market capitalization of $141.94 billion, a P/E ratio of 27.66, a PEG ratio of 1.82 and a beta of 1.09. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. The firm’s 50 day moving average is $97.63 and its 200 day moving average is $103.44. NIKE, Inc. has a 12 month low of $88.66 and a 12 month high of $128.68.

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. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The business had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.28 billion. On average, sell-side analysts anticipate that NIKE, Inc. will post 3.73 earnings per share for the current year.

NIKE Announces Dividend

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

Analyst Upgrades and Downgrades

NKE has been the topic of a number of recent analyst reports. The Goldman Sachs Group dropped their price target on shares of NIKE from $135.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Barclays dropped their price target on shares of NIKE from $142.00 to $114.00 and set an “overweight” rating on the stock in a research report on Monday, March 25th. Oppenheimer lowered shares of NIKE from an “outperform” rating to a “market perform” rating and set a $110.00 price target on the stock. in a research report on Friday, February 16th. Stifel Nicolaus dropped their price target on shares of NIKE from $129.00 to $117.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Finally, Morgan Stanley dropped their price target on shares of NIKE from $124.00 to $116.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 27th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $116.26.

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.