Golden State Wealth Management LLC Purchases 3,726 Shares of NIKE, Inc. (NYSE:NKE)

Golden State Wealth Management LLC boosted its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 143.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,321 shares of the footwear maker's stock after purchasing an additional 3,726 shares during the period. Golden State Wealth Management LLC's holdings in NIKE were worth $402,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Heck Capital Advisors LLC acquired a new stake in NIKE during the fourth quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA lifted its stake in NIKE by 110.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock valued at $30,000 after purchasing an additional 210 shares during the last quarter. Hopwood Financial Services Inc. acquired a new stake in NIKE during the fourth quarter valued at approximately $30,000. EnRich Financial Partners LLC lifted its stake in NIKE by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker's stock valued at $31,000 after purchasing an additional 273 shares during the last quarter. Finally, Ritter Daniher Financial Advisory LLC DE lifted its stake in NIKE by 95.1% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 513 shares of the footwear maker's stock valued at $39,000 after purchasing an additional 250 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Stock Up 15.3%

Shares of NKE traded up $9.55 during mid-day trading on Friday, hitting $72.09. 117,428,527 shares of the company's stock were exchanged, compared to its average volume of 15,803,806. The firm has a fifty day moving average of $60.63 and a two-hundred day moving average of $67.60. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $90.62. The stock has a market cap of $106.63 billion, a price-to-earnings ratio of 33.38, a P/E/G ratio of 2.29 and a beta of 1.21. The company has a quick ratio of 1.52, a current ratio of 2.19 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.00%. The company had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.69 billion. During the same quarter in the prior year, the business posted $0.99 EPS. NIKE's quarterly revenue was down 11.9% on a year-over-year basis. On average, sell-side analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.22%. NIKE's dividend payout ratio (DPR) is 53.16%.

Analysts Set New Price Targets

Several research firms recently commented on NKE. JPMorgan Chase & Co. increased their target price on shares of NIKE from $56.00 to $64.00 and gave the company a "neutral" rating in a research note on Friday. BMO Capital Markets cut their price target on shares of NIKE from $95.00 to $92.00 and set an "outperform" rating on the stock in a report on Friday, March 21st. HSBC upgraded shares of NIKE from a "hold" rating to a "buy" rating and set a $80.00 price target on the stock in a report on Friday. Williams Trading cut their price target on shares of NIKE from $93.00 to $73.00 and set a "buy" rating on the stock in a report on Monday, April 21st. Finally, Stifel Nicolaus cut their price target on shares of NIKE from $75.00 to $64.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $79.33.

Insider Transactions at NIKE

In other news, Director Robert Holmes Swan acquired 8,600 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The stock was acquired at an average cost of $58.46 per share, with a total value of $502,756.00. Following the acquisition, the director now owns 31,983 shares in the company, valued at approximately $1,869,726.18. This represents a 36.78% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is currently owned by company insiders.

NIKE Company 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.