Alterna Wealth Management Inc. Buys Shares of 3,630 NIKE, Inc. (NYSE:NKE)

Alterna Wealth Management Inc. bought a new position in shares of NIKE, Inc. (NYSE:NKE - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,630 shares of the footwear maker's stock, valued at approximately $230,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC increased its stake in shares of NIKE by 388.5% during the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock valued at $15,316,000 after acquiring an additional 160,980 shares during the last quarter. Bank Pictet & Cie Europe AG increased its position in NIKE by 10.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker's stock worth $14,447,000 after purchasing an additional 17,888 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in NIKE by 12.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 10,155 shares of the footwear maker's stock worth $758,000 after purchasing an additional 1,125 shares during the period. SRS Capital Advisors Inc. boosted its holdings in shares of NIKE by 70.3% in the 4th quarter. SRS Capital Advisors Inc. now owns 3,210 shares of the footwear maker's stock valued at $243,000 after purchasing an additional 1,325 shares during the last quarter. Finally, Schechter Investment Advisors LLC grew its stake in shares of NIKE by 111.3% during the 4th quarter. Schechter Investment Advisors LLC now owns 5,769 shares of the footwear maker's stock valued at $437,000 after buying an additional 3,039 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NKE has been the topic of a number of research analyst reports. Wall Street Zen cut NIKE from a "hold" rating to a "sell" rating in a report on Friday, June 27th. Hsbc Global Res upgraded NIKE from a "hold" rating to a "strong-buy" rating in a report on Friday, June 27th. Berenberg Bank assumed coverage on NIKE in a report on Tuesday, April 15th. They set a "hold" rating and a $58.00 target price for the company. JPMorgan Chase & Co. raised their price target on shares of NIKE from $56.00 to $64.00 and gave the company a "neutral" rating in a report on Friday, June 27th. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and set a $70.00 price target on shares of NIKE in a research report on Friday, June 27th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, NIKE presently has an average rating of "Moderate Buy" and a consensus price target of $77.19.

Insider Buying and Selling at NIKE

In other NIKE news, Director Robert Holmes Swan acquired 8,600 shares of the company's stock in a transaction that occurred on Friday, April 4th. The shares were purchased 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 directly owned 31,983 shares in the company, valued at $1,869,726.18. The trade was 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 link. 1.10% of the stock is currently owned by corporate insiders.

NIKE Stock Up 4.1%

NYSE NKE traded up $3.03 on Wednesday, hitting $76.44. 36,854,979 shares of the stock traded hands, compared to its average volume of 15,431,318. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. The stock has a 50-day moving average of $61.26 and a 200 day moving average of $67.44. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $90.62. The company has a market capitalization of $113.06 billion, a P/E ratio of 35.39, a price-to-earnings-growth ratio of 2.57 and a beta of 1.25.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate 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 23.33% and a net margin of 6.95%. The business's revenue was down 11.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.99 EPS. As a group, analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were given a $0.40 dividend. The ex-dividend date was Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.09%. NIKE's payout ratio is currently 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.