Cacti Asset Management LLC Invests $9.99 Million in NIKE, Inc. (NYSE:NKE)

Cacti Asset Management LLC purchased a new stake in NIKE, Inc. (NYSE:NKE) during the 4th quarter, Holdings Channel.com reports. The fund purchased 133,785 shares of the footwear maker’s stock, valued at approximately $9,987,000. NIKE accounts for about 0.8% of Cacti Asset Management LLC’s portfolio, making the stock its 24th largest holding.

Several other institutional investors have also modified their holdings of the stock. Teachers Insurance & Annuity Association of America purchased a new position in NIKE during the 3rd quarter worth $30,000. VitalStone Financial LLC increased its holdings in shares of NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 150 shares in the last quarter. Dunhill Financial LLC boosted its holdings in NIKE by 52.2% during the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after buying an additional 169 shares in the last quarter. Riverview Trust Co purchased a new position in NIKE in the third quarter valued at about $52,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of NIKE during the 3rd quarter worth approximately $54,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Telsey Advisory Group lowered shares of NIKE from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $93.00 to $80.00 in a research report on Friday, December 20th. Jefferies Financial Group increased their target price on NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Monday, September 30th. Morgan Stanley cut their price objective on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, December 16th. Finally, Royal Bank of Canada reduced their target price on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a report on Thursday, November 7th. Fifteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and a consensus target price of $89.58.

Insider Buying and Selling

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of the firm’s stock in a transaction on Friday, December 27th. The stock was bought at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the acquisition, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

NIKE Stock Down 1.6 %

Shares of NIKE stock traded down $1.22 during trading on Thursday, hitting $74.45. 3,228,424 shares of the stock traded hands, compared to its average volume of 11,637,070. The company has a fifty day moving average price of $77.13 and a two-hundred day moving average price of $79.50. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $107.48. The stock has a market cap of $111.63 billion, a P/E ratio of 21.33, a PEG ratio of 1.89 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.63 by $0.15. The company had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. NIKE’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.03 EPS. Equities research analysts predict that NIKE, Inc. will post 2.72 EPS for the current fiscal year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.15%. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

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.