Allspring Global Investments Holdings LLC Grows Stock Position in NIKE, Inc. (NYSE:NKE)

Allspring Global Investments Holdings LLC raised its position in NIKE, Inc. (NYSE:NKE - Free Report) by 33.8% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 549,002 shares of the footwear maker's stock after purchasing an additional 138,753 shares during the period. Allspring Global Investments Holdings LLC's holdings in NIKE were worth $35,553,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Highland Capital Management LLC raised its holdings in shares of NIKE by 1.0% during the 1st quarter. Highland Capital Management LLC now owns 68,882 shares of the footwear maker's stock worth $4,373,000 after acquiring an additional 702 shares during the period. Matisse Capital raised its holdings in shares of NIKE by 21.9% during the 1st quarter. Matisse Capital now owns 10,060 shares of the footwear maker's stock worth $639,000 after acquiring an additional 1,810 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of NIKE by 5.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 215,000 shares of the footwear maker's stock worth $13,608,000 after acquiring an additional 11,968 shares during the period. Lafayette Investments Inc. raised its holdings in shares of NIKE by 3.1% during the 1st quarter. Lafayette Investments Inc. now owns 45,393 shares of the footwear maker's stock worth $2,882,000 after acquiring an additional 1,369 shares during the period. Finally, Money Concepts Capital Corp raised its holdings in shares of NIKE by 65.2% during the 1st quarter. Money Concepts Capital Corp now owns 25,345 shares of the footwear maker's stock worth $1,609,000 after acquiring an additional 10,005 shares during the period. Hedge funds and other institutional investors own 64.25% of the company's stock.

NIKE Stock Up 3.3%

Shares of NIKE stock traded up $2.34 on Tuesday, reaching $73.38. 27,492,625 shares of the company were exchanged, compared to its average volume of 15,460,551. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $90.62. The company has a market cap of $108.54 billion, a P/E ratio of 33.97, a price-to-earnings-growth ratio of 2.73 and a beta of 1.21. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. The stock's 50 day moving average price is $60.93 and its 200-day moving average price is $67.40.

NIKE (NYSE:NKE - Get Free Report) last announced 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 during the quarter, compared to the consensus estimate of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%. The business'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, equities analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE's dividend payout ratio is currently 53.16%.

Insiders Place Their Bets

In other news, Director Robert Holmes Swan acquired 8,600 shares of NIKE stock in a transaction on Friday, April 4th. The stock was bought at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the purchase, the director owned 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 filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Barclays lifted their price target on NIKE from $53.00 to $64.00 and gave the stock an "equal weight" rating in a report on Friday. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of NIKE from $77.00 to $71.00 and set a "buy" rating on the stock in a report on Friday, June 20th. Robert W. Baird boosted their price objective on shares of NIKE from $80.00 to $88.00 and gave the company an "outperform" rating in a report on Friday. BMO Capital Markets reduced their price objective on shares of NIKE from $95.00 to $92.00 and set an "outperform" rating on the stock in a report on Friday, March 21st. Finally, Morgan Stanley boosted their price objective on shares of NIKE from $61.00 to $64.00 and gave the company an "equal weight" rating in a report on Friday. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $77.19.

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.