Confluence Wealth Services Inc. Has $1.34 Million Stake in NIKE, Inc. (NYSE:NKE)

Confluence Wealth Services Inc. grew its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 46.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,108 shares of the footwear maker's stock after buying an additional 6,694 shares during the quarter. Confluence Wealth Services Inc.'s holdings in NIKE were worth $1,340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Brighton Jones LLC increased its position in shares of NIKE by 388.5% during the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock valued at $15,316,000 after purchasing an additional 160,980 shares during the period. Bank Pictet & Cie Europe AG lifted its stake in NIKE by 10.3% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker's stock valued at $14,447,000 after buying an additional 17,888 shares during the period. IFP Advisors Inc raised its position in shares of NIKE by 17.9% during the fourth quarter. IFP Advisors Inc now owns 11,806 shares of the footwear maker's stock worth $894,000 after purchasing an additional 1,789 shares during the period. Nwam LLC raised its position in NIKE by 2.9% in the 4th quarter. Nwam LLC now owns 6,318 shares of the footwear maker's stock valued at $478,000 after buying an additional 176 shares during the last quarter. Finally, Kovack Advisors Inc. boosted its stake in NIKE by 20.3% in the 4th quarter. Kovack Advisors Inc. now owns 8,323 shares of the footwear maker's stock valued at $630,000 after purchasing an additional 1,403 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NKE. The Goldman Sachs Group boosted their price target on NIKE from $72.00 to $81.00 and gave the stock a "buy" rating in a report on Friday. Needham & Company LLC raised their price objective on NIKE from $66.00 to $78.00 and gave the company a "buy" rating in a research note on Friday. Barclays lifted their target price on NIKE from $53.00 to $64.00 and gave the company an "equal weight" rating in a research report on Friday. Citigroup lifted their target price on NIKE from $57.00 to $68.00 and gave the company a "neutral" rating in a research report on Friday. Finally, Stifel Nicolaus cut their target price on NIKE from $75.00 to $64.00 and set a "hold" rating on the stock in a research report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, NIKE currently has an average rating of "Moderate Buy" and a consensus target price of $79.33.

Insiders Place Their Bets

In other NIKE 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, with a total value of $502,756.00. Following the purchase, the director now owns 31,983 shares in the company, valued at approximately $1,869,726.18. The trade was a 36.78% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is currently owned by insiders.

NIKE Price Performance

NIKE stock opened at $72.09 on Friday. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $90.62. The stock has a market cap of $106.63 billion, a P/E ratio of 33.38, a price-to-earnings-growth ratio of 2.29 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. The company has a fifty day simple moving average of $60.63 and a 200-day simple moving average of $67.60.

NIKE (NYSE:NKE - Get Free Report) last issued 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. NIKE had a net margin of 6.95% and a return on equity of 23.00%. The business had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.69 billion. During the same period in the previous year, the business posted $0.99 earnings per share. The business's revenue was down 11.9% compared to the same quarter last year. Equities analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors 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 of this dividend is Monday, June 2nd. NIKE's payout ratio is 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.

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