9,313 Shares in NIKE, Inc. (NYSE:NKE) Acquired by Alpine Bank Wealth Management

Alpine Bank Wealth Management bought a new position in shares of NIKE, Inc. (NYSE:NKE - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 9,313 shares of the footwear maker's stock, valued at approximately $591,000.

A number of other hedge funds have also added to or reduced their stakes in the company. Heck Capital Advisors LLC acquired a new stake in NIKE in the fourth quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA raised its position in NIKE by 110.5% in the fourth 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. Hopwood Financial Services Inc. bought a new position in NIKE in the fourth quarter valued at about $30,000. EnRich Financial Partners LLC boosted its stake in shares of NIKE by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker's stock valued at $31,000 after purchasing an additional 273 shares in the last quarter. Finally, BankPlus Trust Department bought a new stake in shares of NIKE during the fourth quarter worth about $34,000. 64.25% of the stock is owned by institutional investors.

NIKE Stock Up 3.1%

NKE traded up $1.88 during trading hours on Thursday, hitting $62.71. 34,370,648 shares of the company's stock were exchanged, compared to its average volume of 15,436,769. The firm has a 50 day moving average of $60.17 and a 200 day moving average of $67.73. The firm has a market cap of $92.75 billion, a P/E ratio of 20.83, a price-to-earnings-growth ratio of 2.23 and a beta of 1.21. The company has a current ratio of 2.19, a quick ratio of 1.52 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $94.74.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. NIKE had a return on equity of 32.18% and a net margin of 9.43%. The company had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.69 billion. During the same period last year, the business posted $0.99 EPS. The company's revenue was down 11.9% on a year-over-year basis. Analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be issued 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 2.55%. NIKE's dividend payout ratio (DPR) is presently 53.16%.

Insider Transactions at NIKE

In related news, Director Robert Holmes Swan bought 8,600 shares of the business's stock in a transaction dated Friday, April 4th. The shares were acquired at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the purchase, the director now owns 31,983 shares in the company, valued at $1,869,726.18. This trade represents a 36.78% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NKE. The Goldman Sachs Group decreased their price target on shares of NIKE from $88.00 to $72.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Berenberg Bank began coverage on NIKE in a research note on Tuesday, April 15th. They issued a "hold" rating and a $58.00 price target for the company. Wells Fargo & Company lifted their price objective on NIKE from $55.00 to $60.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 14th. Deutsche Bank Aktiengesellschaft reduced their target price on NIKE from $77.00 to $71.00 and set a "buy" rating on the stock in a report on Friday, June 20th. Finally, Cfra Research upgraded shares of NIKE to a "moderate buy" rating in a research report on Friday, March 21st. Sixteen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $77.59.

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.