RFG Bristol Wealth Advisors LLC Invests $584,000 in NIKE, Inc. (NYSE:NKE)

RFG Bristol Wealth Advisors LLC acquired a new position in shares of NIKE, Inc. (NYSE:NKE - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 7,717 shares of the footwear maker's stock, valued at approximately $584,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Meeder Advisory Services Inc. raised its stake in NIKE by 6.0% in the fourth quarter. Meeder Advisory Services Inc. now owns 19,695 shares of the footwear maker's stock worth $1,490,000 after buying an additional 1,122 shares in the last quarter. Headlands Technologies LLC increased its holdings in shares of NIKE by 212.7% in the 4th quarter. Headlands Technologies LLC now owns 30,454 shares of the footwear maker's stock valued at $2,304,000 after acquiring an additional 20,714 shares during the period. Geode Capital Management LLC raised its position in shares of NIKE by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker's stock worth $1,915,110,000 after acquiring an additional 347,178 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of NIKE by 22.8% during the 4th quarter. Franklin Resources Inc. now owns 7,628,256 shares of the footwear maker's stock worth $577,230,000 after purchasing an additional 1,418,839 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. AG boosted its position in NIKE by 1.4% during the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 1,662,284 shares of the footwear maker's stock valued at $125,414,000 after purchasing an additional 22,833 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NKE. Stifel Nicolaus reduced their target price on NIKE from $79.00 to $75.00 and set a "hold" rating on the stock in a research report on Friday, December 20th. Cfra Research raised shares of NIKE to a "moderate buy" rating in a research report on Friday, March 21st. Guggenheim reissued a "buy" rating and set a $110.00 target price on shares of NIKE in a research report on Wednesday, February 12th. Wells Fargo & Company decreased their price target on shares of NIKE from $90.00 to $85.00 and set an "overweight" rating for the company in a report on Friday, March 21st. Finally, Morgan Stanley dropped their price objective on shares of NIKE from $72.00 to $70.00 and set an "equal weight" rating on the stock in a report on Friday, March 21st. Fifteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $87.38.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 169,732 shares of the company's stock in a transaction dated 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 completion of the sale, the chairman now owns 896,632 shares of the company's stock, valued at $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.10% of the stock is currently owned by insiders.

NIKE Stock Performance

Shares of NKE traded down $9.48 during midday trading on Thursday, hitting $55.49. 71,401,127 shares of the stock traded hands, compared to its average volume of 13,193,921. 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 1-year low of $55.26 and a 1-year high of $98.04. The business's 50 day moving average price is $73.66 and its two-hundred day moving average price is $76.64. The firm has a market capitalization of $82.07 billion, a PE ratio of 17.13, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE - Get Free Report) last posted its earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.28 by $0.26. The firm had revenue of $11.27 billion during the quarter, compared to analysts' expectations of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. NIKE's quarterly revenue was down 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.98 EPS. Equities research analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.88%. The ex-dividend date was Monday, March 3rd. NIKE's payout ratio is currently 53.16%.

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.