Beacon Financial Advisory LLC Acquires Shares of 3,880 NIKE, Inc. (NYSE:NKE)

Beacon Financial Advisory LLC purchased a new position in shares of NIKE, Inc. (NYSE:NKE - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,880 shares of the footwear maker's stock, valued at approximately $246,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its stake in shares of NIKE by 1,302.7% in the fourth quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker's stock valued at $196,901,000 after buying an additional 2,416,601 shares in the last quarter. Capitolis Liquid Global Markets LLC boosted its holdings in NIKE by 40.9% in the fourth quarter. Capitolis Liquid Global Markets LLC now owns 310,000 shares of the footwear maker's stock valued at $23,458,000 after purchasing an additional 90,000 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in NIKE by 8.3% in the fourth quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker's stock valued at $460,160,000 after purchasing an additional 463,470 shares during the last quarter. Markel Group Inc. boosted its holdings in NIKE by 0.8% in the fourth quarter. Markel Group Inc. now owns 432,400 shares of the footwear maker's stock valued at $32,720,000 after purchasing an additional 3,500 shares during the last quarter. Finally, Evergreen Capital Management LLC boosted its holdings in NIKE by 3.3% in the fourth quarter. Evergreen Capital Management LLC now owns 237,199 shares of the footwear maker's stock valued at $18,042,000 after purchasing an additional 7,536 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at NIKE

In other news, Director Robert Holmes Swan bought 8,600 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The shares were acquired 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 in the company, valued at $1,869,726.18. This represents a 36.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on NKE shares. UBS Group lowered their target price on NIKE from $73.00 to $66.00 and set a "neutral" rating on the stock in a research report on Friday, March 21st. Royal Bank Of Canada lowered their price target on NIKE from $66.00 to $65.00 and set a "sector perform" rating on the stock in a research report on Tuesday, May 20th. Needham & Company LLC lifted their price target on NIKE from $66.00 to $78.00 and gave the company a "buy" rating in a research report on Friday. China Renaissance initiated coverage on NIKE in a research report on Wednesday, March 19th. They set a "hold" rating on the stock. Finally, Williams Trading lowered their price target on NIKE from $93.00 to $73.00 and set a "buy" rating on the stock in a research report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, NIKE has an average rating of "Moderate Buy" and an average price target of $77.00.

NIKE Stock Up 15.3%

NYSE NKE traded up $9.55 during trading on Friday, hitting $72.09. 117,428,527 shares of the company traded hands, compared to its average volume of 15,349,432. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $90.62. The business has a fifty day simple moving average of $60.63 and a 200 day simple moving average of $67.52. The company has a current ratio of 2.19, a quick ratio of 1.52 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $106.63 billion, a P/E ratio of 33.38, a PEG ratio of 2.64 and a beta of 1.21.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. The business had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.69 billion. NIKE had a return on equity of 23.00% and a net margin of 6.95%. The firm's revenue for the quarter was down 11.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.99 earnings per share. As a group, sell-side analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be paid a $0.40 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.22%. NIKE's payout ratio is presently 53.16%.

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.