Dividend Assets Capital LLC Has $5.85 Million Stock Holdings in NIKE, Inc. (NYSE:NKE)

Dividend Assets Capital LLC lifted its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 29.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 92,146 shares of the footwear maker's stock after buying an additional 21,199 shares during the period. Dividend Assets Capital LLC's holdings in NIKE were worth $5,849,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in NKE. Manitou Investment Management Ltd. lifted its position in NIKE by 137.9% in the first quarter. Manitou Investment Management Ltd. now owns 149,718 shares of the footwear maker's stock worth $9,504,000 after purchasing an additional 86,792 shares during the period. Fiduciary Financial Group LLC increased its holdings in shares of NIKE by 9.1% in the first quarter. Fiduciary Financial Group LLC now owns 4,477 shares of the footwear maker's stock valued at $284,000 after buying an additional 373 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of NIKE by 39.1% in the first quarter. GAMMA Investing LLC now owns 20,877 shares of the footwear maker's stock valued at $1,325,000 after buying an additional 5,863 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of NIKE by 32.1% in the first quarter. Harbor Capital Advisors Inc. now owns 21,766 shares of the footwear maker's stock valued at $1,382,000 after buying an additional 5,291 shares in the last quarter. Finally, Olstein Capital Management L.P. increased its holdings in shares of NIKE by 42.2% in the first quarter. Olstein Capital Management L.P. now owns 91,000 shares of the footwear maker's stock valued at $5,777,000 after buying an additional 27,000 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Price Performance

NKE traded down $2.36 during midday trading on Friday, reaching $60.44. 16,491,618 shares of the company's stock were exchanged, compared to its average volume of 15,169,330. NIKE, Inc. has a one year low of $52.28 and a one year high of $98.04. The business has a 50-day simple moving average of $59.38 and a two-hundred day simple moving average of $68.73. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $89.40 billion, a price-to-earnings ratio of 18.65, a price-to-earnings-growth ratio of 2.52 and a beta of 1.21.

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

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date is Monday, June 2nd. NIKE's dividend payout ratio (DPR) is currently 53.16%.

Insider Activity

In related news, Director Robert Holmes Swan purchased 8,600 shares of the stock in a transaction that occurred on Friday, April 4th. The stock was acquired at an average price of $58.46 per share, with a total value of $502,756.00. Following the completion of the acquisition, the director now directly owns 31,983 shares in the company, valued at approximately $1,869,726.18. This trade represents a 36.78% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Piper Sandler reduced their target price on NIKE from $90.00 to $70.00 and set an "overweight" rating for the company in a report on Friday, April 11th. JPMorgan Chase & Co. reduced their target price on NIKE from $64.00 to $56.00 and set a "neutral" rating for the company in a report on Monday, May 5th. Dbs Bank upgraded NIKE from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. Morgan Stanley dropped their price target on shares of NIKE from $72.00 to $70.00 and set an "equal weight" rating on the stock in a research note on Friday, March 21st. Finally, Cfra Research raised shares of NIKE to a "moderate buy" rating in a research note on Friday, March 21st. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, NIKE has an average rating of "Moderate Buy" and a consensus target price of $80.26.

About NIKE

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.