Bridgewater Advisors Inc. Takes Position in NIKE, Inc. (NYSE:NKE)

Bridgewater Advisors 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 filing with the Securities & Exchange Commission. The firm bought 9,372 shares of the footwear maker's stock, valued at approximately $595,000.

A number of other large investors also recently made changes to their positions in the company. Elgethun Capital Management grew its holdings in NIKE by 13.7% during the 4th quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker's stock valued at $94,000 after buying an additional 149 shares during the last quarter. AlTi Global Inc. grew its holdings in NIKE by 0.4% during the 4th quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker's stock valued at $2,813,000 after buying an additional 150 shares during the last quarter. Cohen & Steers Inc. boosted 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 purchasing an additional 160 shares during the last quarter. Banco de Sabadell S.A boosted 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 purchasing an additional 188 shares during the last quarter. Finally, Aaron Wealth Advisors LLC boosted its holdings in NIKE by 4.3% in the first quarter. Aaron Wealth Advisors LLC now owns 4,666 shares of the footwear maker's stock valued at $296,000 after acquiring an additional 192 shares during the last quarter. Institutional investors own 64.25% of the company's stock.

NIKE Stock Down 0.3%

Shares of NKE opened at $72.05 on Wednesday. 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 stock has a market cap of $106.57 billion, a price-to-earnings ratio of 33.36, a P/E/G ratio of 2.65 and a beta of 1.25. The company has a 50-day moving average price of $64.66 and a two-hundred day moving average price of $67.27. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $90.62.

NIKE (NYSE:NKE - Get Free Report) last released its earnings results 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 firm had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The business's quarterly revenue was down 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.99 EPS. Equities analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 2nd were given a $0.40 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.60 annualized dividend and a yield of 2.22%. NIKE's dividend payout ratio is currently 74.07%.

Analyst Ratings Changes

A number of analysts have recently issued reports on NKE shares. Morgan Stanley lifted their target price on NIKE from $61.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Friday, June 27th. Barclays boosted their price objective on NIKE from $53.00 to $64.00 and gave the company an "equal weight" rating in a report on Friday, June 27th. Needham & Company LLC boosted their price objective on NIKE from $66.00 to $78.00 and gave the company a "buy" rating in a report on Friday, June 27th. The Goldman Sachs Group boosted their price objective on NIKE from $72.00 to $81.00 and gave the company a "buy" rating in a report on Friday, June 27th. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and set a $70.00 target price on shares of NIKE in a report on Friday, June 27th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $77.15.

NIKE 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.

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