Copia Wealth Management Takes Position in NIKE, Inc. (NYSE:NKE)

Copia Wealth Management bought a new position in shares of NIKE, Inc. (NYSE:NKE - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,726 shares of the footwear maker's stock, valued at approximately $358,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Heck Capital Advisors LLC purchased a new stake in shares of NIKE in the fourth quarter valued at $28,000. Caitlin John LLC raised its stake in shares of NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker's stock valued at $28,000 after acquiring an additional 200 shares during the period. Roxbury Financial LLC purchased a new stake in shares of NIKE in the fourth quarter valued at $30,000. LFA Lugano Financial Advisors SA raised its stake in shares of NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock valued at $30,000 after acquiring an additional 210 shares during the period. Finally, Hopwood Financial Services Inc. purchased a new stake in shares of NIKE in the fourth quarter valued at $30,000. Institutional investors own 64.25% of the company's stock.

Wall Street Analyst Weigh In

NKE has been the topic of several recent analyst reports. Jefferies Financial Group reaffirmed a "buy" rating on shares of NIKE in a research note on Friday, May 23rd. The Goldman Sachs Group decreased their target price on NIKE from $88.00 to $72.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. China Renaissance assumed coverage on NIKE in a research report on Wednesday, March 19th. They set a "hold" rating on the stock. Berenberg Bank started coverage on NIKE in a research note on Tuesday, April 15th. They set a "hold" rating and a $58.00 price target on the stock. Finally, Dbs Bank raised shares of NIKE from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Seventeen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $80.26.

Insider Activity at NIKE

In other news, Director Robert Holmes Swan bought 8,600 shares of the business's stock in a transaction on Friday, April 4th. The stock was purchased at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the transaction, the director now directly 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.10% of the company's stock.

NIKE Stock Down 1.5%

NKE stock traded down $0.92 during midday trading on Friday, hitting $60.52. 18,145,753 shares of the company's stock were exchanged, compared to its average volume of 15,031,125. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $98.04. The firm has a 50 day moving average price of $59.20 and a 200-day moving average price of $69.78. The stock has a market capitalization of $89.52 billion, a price-to-earnings ratio of 18.68, a price-to-earnings-growth ratio of 2.52 and a beta of 1.23.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.26. The company had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. NIKE's revenue for the quarter was down 9.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.98 EPS. On average, analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.64%. NIKE's dividend payout ratio is currently 53.16%.

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.