Brookstone Capital Management Increases Stake in NIKE, Inc. (NYSE:NKE)

Brookstone Capital Management increased its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 23.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 130,595 shares of the footwear maker's stock after buying an additional 24,798 shares during the quarter. Brookstone Capital Management's holdings in NIKE were worth $8,290,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Elgethun Capital Management boosted its stake 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 purchasing an additional 149 shares in the last quarter. AlTi Global Inc. boosted its stake 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 purchasing an additional 150 shares in the last quarter. Staley Capital Advisers Inc. boosted its stake in NIKE by 4.4% during the 4th quarter. Staley Capital Advisers Inc. now owns 3,773 shares of the footwear maker's stock valued at $286,000 after purchasing an additional 160 shares in the last quarter. Cohen & Steers Inc. boosted its stake in NIKE by 5.3% during the 4th quarter. Cohen & Steers Inc. now owns 3,171 shares of the footwear maker's stock valued at $240,000 after purchasing an additional 160 shares in the last quarter. Finally, Banco de Sabadell S.A boosted its stake in NIKE by 1.2% during the 4th quarter. Banco de Sabadell S.A now owns 15,966 shares of the footwear maker's stock valued at $1,208,000 after purchasing an additional 188 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NKE has been the subject of a number of recent research reports. HSBC upgraded NIKE from a "hold" rating to a "buy" rating and set a $80.00 price objective for the company in a research report on Friday, June 27th. Wells Fargo & Company increased their price objective on NIKE from $55.00 to $60.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 14th. Morgan Stanley increased their price objective on NIKE from $61.00 to $64.00 and gave the company an "equal weight" rating in a research report on Friday, June 27th. Bank of America increased their price objective on NIKE from $80.00 to $84.00 and gave the company a "buy" rating in a research report on Friday, June 27th. Finally, Citigroup increased their price objective on NIKE from $57.00 to $68.00 and gave the company a "neutral" rating in a research report on Friday, June 27th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $77.19.

NIKE Stock Performance

Shares of NIKE stock traded down $0.11 during trading hours on Friday, hitting $76.28. 12,022,568 shares of the company's stock traded hands, compared to its average volume of 15,355,444. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $90.62. The stock has a market capitalization of $112.83 billion, a price-to-earnings ratio of 35.31, a PEG ratio of 2.77 and a beta of 1.25. The company has a fifty day simple moving average of $62.36 and a 200-day simple moving average of $67.42. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50.

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

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend was Monday, June 2nd. NIKE's payout ratio is 74.07%.

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.