Argent Advisors Inc. Acquires 4,118 Shares of NIKE, Inc. (NYSE:NKE)

Argent Advisors Inc. increased its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 69.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,027 shares of the footwear maker's stock after purchasing an additional 4,118 shares during the quarter. Argent Advisors Inc.'s holdings in NIKE were worth $636,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of NKE. Elgethun Capital Management raised its holdings in shares of NIKE by 13.7% during the fourth quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker's stock worth $94,000 after acquiring an additional 149 shares during the period. AlTi Global Inc. raised its holdings in shares of NIKE by 0.4% during the fourth quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker's stock worth $2,813,000 after acquiring an additional 150 shares during the period. Staley Capital Advisers Inc. raised its holdings in shares of NIKE by 4.4% during the fourth quarter. Staley Capital Advisers Inc. now owns 3,773 shares of the footwear maker's stock worth $286,000 after acquiring an additional 160 shares during the period. Cohen & Steers Inc. raised its holdings in shares of NIKE by 5.3% during the fourth quarter. Cohen & Steers Inc. now owns 3,171 shares of the footwear maker's stock worth $240,000 after acquiring an additional 160 shares during the period. Finally, Banco de Sabadell S.A raised its holdings in shares of NIKE by 1.2% during the fourth quarter. Banco de Sabadell S.A now owns 15,966 shares of the footwear maker's stock worth $1,208,000 after acquiring an additional 188 shares during the period. 64.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NKE. Citigroup raised their target price on shares of NIKE from $57.00 to $68.00 and gave the company a "neutral" rating in a research report on Friday. Williams Trading decreased their target price on shares of NIKE from $93.00 to $73.00 and set a "buy" rating for the company in a research report on Monday, April 21st. Stifel Nicolaus decreased their target price on shares of NIKE from $75.00 to $64.00 and set a "hold" rating for the company in a research report on Thursday, April 10th. Wall Street Zen downgraded shares of NIKE from a "hold" rating to a "sell" rating in a research report on Friday. Finally, The Goldman Sachs Group raised their target price on shares of NIKE from $72.00 to $81.00 and gave the company a "buy" rating in a research report on Friday. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $77.00.

Insiders Place Their Bets

In other news, Director Robert Holmes Swan bought 8,600 shares of the business's stock in a transaction dated 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 acquisition, the director now owns 31,983 shares of the company's stock, valued at approximately $1,869,726.18. This trade represents a 36.78% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.10% of the company's stock.

NIKE Price Performance

Shares of NYSE:NKE opened at $72.09 on Monday. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $90.62. The firm has a market capitalization of $106.63 billion, a PE ratio of 33.38, a P/E/G ratio of 2.73 and a beta of 1.21. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60. The company has a 50-day moving average price of $60.63 and a two-hundred day moving average price of $67.44.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. The firm had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The company's revenue for the quarter was down 11.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.99 earnings per share. Equities analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

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

NIKE Company Profile

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.

Want to see what other hedge funds are holding NKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NIKE, Inc. (NYSE:NKE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.