Hardy Reed LLC Takes $248,000 Position in NIKE, Inc. (NYSE:NKE)

Hardy Reed LLC purchased a new stake in NIKE, Inc. (NYSE:NKE - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,280 shares of the footwear maker's stock, valued at approximately $248,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of NKE. Heck Capital Advisors LLC bought a new position in NIKE in the fourth quarter worth $28,000. Caitlin John LLC raised its stake in shares of NIKE by 117.0% in the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker's stock valued at $28,000 after buying an additional 200 shares in the last quarter. Teachers Insurance & Annuity Association of America bought a new position in shares of NIKE during the 3rd quarter worth about $30,000. Roxbury Financial LLC acquired a new stake in shares of NIKE during the 4th quarter valued at about $30,000. Finally, Bank of Jackson Hole Trust bought a new stake in NIKE in the fourth quarter valued at about $43,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Trading Down 0.9 %

NYSE:NKE traded down $0.73 during mid-day trading on Friday, hitting $76.50. The company had a trading volume of 9,698,702 shares, compared to its average volume of 13,086,317. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. NIKE, Inc. has a fifty-two week low of $68.62 and a fifty-two week high of $106.62. The firm has a market cap of $113.15 billion, a P/E ratio of 23.61, a P/E/G ratio of 2.50 and a beta of 1.01. The business's fifty day moving average is $74.33 and its two-hundred day moving average is $78.05.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.15. The business had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. NIKE's revenue for the quarter was down 7.7% on a year-over-year basis. During the same period last year, the company posted $1.03 EPS. As a group, research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE's dividend payout ratio is currently 49.38%.

Analyst Ratings Changes

NKE has been the topic of a number of recent research reports. Stifel Nicolaus decreased their price objective on NIKE from $79.00 to $75.00 and set a "hold" rating on the stock in a report on Friday, December 20th. Morgan Stanley decreased their price target on NIKE from $80.00 to $74.00 and set an "equal weight" rating on the stock in a research note on Friday, December 20th. Royal Bank of Canada dropped their price objective on NIKE from $82.00 to $80.00 and set a "sector perform" rating for the company in a research note on Thursday, November 7th. Needham & Company LLC restated a "buy" rating and issued a $84.00 target price on shares of NIKE in a research note on Friday, February 7th. Finally, Citigroup lowered shares of NIKE from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $102.00 to $72.00 in a report on Friday, February 7th. Fifteen research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, NIKE presently has a consensus rating of "Moderate Buy" and a consensus price target of $88.62.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 169,732 shares of the business's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares of the company's stock, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John W. Rogers, Jr. bought 2,500 shares of NIKE stock in a transaction that occurred on Friday, December 27th. The stock was bought at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the purchase, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their position. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by company 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.