Financial Gravity Asset Management Inc. Takes Position in NIKE, Inc. (NYSE:NKE)

Financial Gravity Asset Management Inc. bought a new position in shares of NIKE, Inc. (NYSE:NKE - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 24,760 shares of the footwear maker's stock, valued at approximately $1,572,000.

Several other hedge funds have also recently bought and sold shares of the business. Spire Wealth Management grew its position in shares of NIKE by 4.4% in the first quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker's stock valued at $627,000 after purchasing an additional 416 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of NIKE by 1,302.7% in the fourth quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker's stock valued at $196,901,000 after purchasing an additional 2,416,601 shares during the last quarter. Capitolis Liquid Global Markets LLC grew its position in shares of NIKE by 40.9% in the fourth quarter. Capitolis Liquid Global Markets LLC now owns 310,000 shares of the footwear maker's stock valued at $23,458,000 after purchasing an additional 90,000 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of NIKE by 8.3% in the fourth quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker's stock valued at $460,160,000 after purchasing an additional 463,470 shares during the last quarter. Finally, Evergreen Capital Management LLC grew its position in shares of NIKE by 3.3% in the fourth quarter. Evergreen Capital Management LLC now owns 237,199 shares of the footwear maker's stock valued at $18,042,000 after purchasing an additional 7,536 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Price Performance

NKE traded down $1.96 during midday trading on Friday, reaching $72.66. 12,749,362 shares of the company's stock were exchanged, compared to its average volume of 15,230,401. The firm has a market capitalization of $107.47 billion, a price-to-earnings ratio of 33.64, a price-to-earnings-growth ratio of 2.70 and a beta of 1.25. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60. NIKE, Inc. has a one year low of $52.28 and a one year high of $90.62. The business has a 50-day simple moving average of $64.06 and a two-hundred day simple moving average of $67.40.

NIKE (NYSE:NKE - Get Free Report) last posted its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The company had revenue of $11.10 billion during the quarter, compared to analysts' expectations of $10.69 billion. During the same quarter in the previous year, the company posted $0.99 earnings per share. NIKE's quarterly revenue was down 11.9% 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend was Monday, June 2nd. NIKE's dividend payout ratio (DPR) is currently 74.07%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NKE. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $70.00 price target on shares of NIKE in a research report on Friday, June 27th. Robert W. Baird raised 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. BMO Capital Markets decreased their target price on NIKE from $95.00 to $92.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. Jefferies Financial Group reissued a "buy" rating on shares of NIKE in a research report on Friday, May 23rd. Finally, Hsbc Global Res raised NIKE from a "hold" rating to a "strong-buy" 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, sixteen have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $77.15.

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.