Fisher Funds Management LTD Purchases 19,438 Shares of NIKE, Inc. (NYSE:NKE)

Fisher Funds Management LTD lifted its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 11.0% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 196,766 shares of the footwear maker's stock after buying an additional 19,438 shares during the period. Fisher Funds Management LTD's holdings in NIKE were worth $12,491,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Elgethun Capital Management lifted its position in NIKE by 13.7% during the 4th quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker's stock valued at $94,000 after acquiring an additional 149 shares during the period. AlTi Global Inc. lifted its holdings in shares of NIKE by 0.4% during the fourth quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker's stock valued at $2,813,000 after purchasing an additional 150 shares during the last quarter. Staley Capital Advisers Inc. lifted its holdings in shares of NIKE by 4.4% during the fourth quarter. Staley Capital Advisers Inc. now owns 3,773 shares of the footwear maker's stock valued at $286,000 after purchasing an additional 160 shares during the last quarter. Cohen & Steers Inc. boosted its position in shares of NIKE by 5.3% in the 4th quarter. Cohen & Steers Inc. now owns 3,171 shares of the footwear maker's stock worth $240,000 after purchasing an additional 160 shares in the last quarter. Finally, Banco de Sabadell S.A grew its stake in shares of NIKE by 1.2% in the 4th quarter. Banco de Sabadell S.A now owns 15,966 shares of the footwear maker's stock worth $1,208,000 after buying an additional 188 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

NIKE Stock Performance

NKE stock traded down $0.11 during midday trading on Friday, reaching $76.28. 12,022,568 shares of the company's stock traded hands, compared to its average volume of 15,372,369. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $90.62. The stock has a market cap of $112.83 billion, a P/E ratio of 35.31, a PEG ratio of 2.77 and a beta of 1.25. The stock's 50-day moving average is $61.99 and its 200 day moving average is $67.50.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The company's revenue for the quarter was down 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.99 EPS. As a group, analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.10%. The ex-dividend date was Monday, June 2nd. NIKE's dividend payout ratio is presently 74.07%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on NKE shares. The Goldman Sachs Group increased their target price on NIKE from $72.00 to $81.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. China Renaissance assumed coverage on shares of NIKE in a research note on Wednesday, March 19th. They issued a "hold" rating on the stock. UBS Group restated a "neutral" rating and set a $63.00 price objective on shares of NIKE in a research note on Friday, June 27th. Williams Trading dropped their target price on shares of NIKE from $93.00 to $73.00 and set a "buy" rating on the stock in a research note on Monday, April 21st. Finally, Telsey Advisory Group reiterated a "market perform" rating and set a $70.00 price target on shares of NIKE in a report on Friday, June 27th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, NIKE presently has a consensus rating of "Moderate Buy" and an average target price of $77.19.

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.