CORDA Investment Management LLC. increased its position in NIKE, Inc. (NYSE:NKE - Free Report) by 14.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 156,202 shares of the footwear maker's stock after acquiring an additional 19,434 shares during the quarter. CORDA Investment Management LLC.'s holdings in NIKE were worth $9,916,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in NIKE by 388.5% during the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock valued at $15,316,000 after buying an additional 160,980 shares during the period. Bank Pictet & Cie Europe AG raised 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 last quarter. Proficio Capital Partners LLC raised its stake in NIKE by 6.4% in the fourth quarter. Proficio Capital Partners LLC now owns 21,634 shares of the footwear maker's stock valued at $1,637,000 after buying an additional 1,299 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of NIKE by 3.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 566,725 shares of the footwear maker's stock worth $42,884,000 after purchasing an additional 18,407 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its stake in shares of NIKE by 4.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 250,898 shares of the footwear maker's stock worth $18,986,000 after purchasing an additional 10,570 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.
NIKE Price Performance
NKE stock traded down $0.21 during midday trading on Wednesday, hitting $73.71. 12,065,340 shares of the stock were exchanged, compared to its average volume of 15,308,932. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. The stock's 50-day moving average price is $63.08 and its 200-day moving average price is $67.40. The stock has a market cap of $109.03 billion, a price-to-earnings ratio of 34.13, a PEG ratio of 2.77 and a beta of 1.25. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $90.62.
NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) 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 business had revenue of $11.10 billion for the quarter, compared to analysts' expectations of $10.69 billion. During the same quarter last year, the firm earned $0.99 earnings per share. The business's revenue was down 11.9% on a year-over-year basis. Research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.
NIKE Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date was Monday, June 2nd. NIKE's dividend payout ratio is presently 74.07%.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on the company. Robert W. Baird lifted their price target on NIKE from $80.00 to $88.00 and gave the company an "outperform" rating in a research report on Friday, June 27th. JPMorgan Chase & Co. lifted their price target on NIKE from $56.00 to $64.00 and gave the stock a "neutral" rating in a research note on Friday, June 27th. UBS Group began coverage on NIKE in a research note on Sunday. They set a "buy" rating on the stock. Telsey Advisory Group reissued a "market perform" rating and set a $70.00 price objective on shares of NIKE in a research note on Friday, June 27th. Finally, Morgan Stanley upped their price target on NIKE from $61.00 to $64.00 and gave the company an "equal weight" rating in a research note on Friday, June 27th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, NIKE presently has an average rating of "Moderate Buy" and a consensus target price of $77.19.
Check Out Our Latest Research Report on NIKE
NIKE Company Profile
(
Free Report)
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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