Bastion Asset Management Inc. Takes Position in NIKE, Inc. (NYSE:NKE)

Bastion Asset Management Inc. purchased a new position in NIKE, Inc. (NYSE:NKE - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 23,340 shares of the footwear maker's stock, valued at approximately $1,825,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Caitlin John LLC raised its holdings in NIKE by 117.0% during the fourth 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. Heck Capital Advisors LLC acquired a new stake in shares of NIKE in the fourth quarter worth $28,000. Roxbury Financial LLC acquired a new position in NIKE during the 4th quarter valued at $30,000. LFA Lugano Financial Advisors SA raised its stake in NIKE by 110.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock valued at $30,000 after purchasing an additional 210 shares during the last quarter. Finally, Hopwood Financial Services Inc. bought a new stake in NIKE in the 4th quarter valued at $30,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Stock Down 0.3 %

NYSE:NKE traded down $0.20 on Tuesday, hitting $57.15. 11,256,761 shares of the company's stock were exchanged, compared to its average volume of 14,589,194. The company has a market cap of $84.54 billion, a P/E ratio of 17.64, a price-to-earnings-growth ratio of 2.52 and a beta of 1.23. The firm has a 50-day moving average price of $63.70 and a 200-day moving average price of $71.72. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $98.04.

NIKE (NYSE:NKE - Get Free Report) last released its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.26. The business 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%. The firm's revenue was down 9.1% on a year-over-year basis. During the same period last year, the business earned $0.98 earnings per share. As a group, analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date is Monday, June 2nd. NIKE's payout ratio is currently 53.16%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. China Renaissance began coverage on shares of NIKE in a research report on Wednesday, March 19th. They set a "hold" rating for the company. Robert W. Baird cut their price target on NIKE from $105.00 to $99.00 and set an "outperform" rating for the company in a report on Friday, March 21st. BMO Capital Markets decreased their price objective on NIKE from $95.00 to $92.00 and set an "outperform" rating on the stock in a report on Friday, March 21st. Cfra Research upgraded NIKE to a "moderate buy" rating in a research note on Friday, March 21st. Finally, Dbs Bank upgraded shares of NIKE from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Seventeen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $80.48.

Insiders Place Their Bets

In related news, Director Robert Holmes Swan acquired 8,600 shares of the company's stock in a transaction dated Friday, April 4th. The shares were bought at an average cost of $58.46 per share, with a total value of $502,756.00. Following the completion of the transaction, the director now directly owns 31,983 shares of the company's stock, valued at $1,869,726.18. This trade represents a 36.78 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares of the company's stock, valued at $65,301,708.56. The trade was a 15.92 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.10% of the company's stock.

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.