Harbor Capital Advisors Inc. Grows Position in NIKE, Inc. (NYSE:NKE)

Harbor Capital Advisors Inc. grew its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 32.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 21,766 shares of the footwear maker's stock after buying an additional 5,291 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in NIKE were worth $1,382,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Heck Capital Advisors LLC purchased a new stake in NIKE in the 4th quarter worth approximately $28,000. Roxbury Financial LLC purchased a new stake in NIKE in the 4th quarter worth approximately $30,000. LFA Lugano Financial Advisors SA lifted its holdings in NIKE by 110.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock worth $30,000 after buying an additional 210 shares during the period. Hopwood Financial Services Inc. purchased a new stake in NIKE in the 4th quarter worth approximately $30,000. Finally, EnRich Financial Partners LLC lifted its holdings in NIKE by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker's stock worth $31,000 after buying an additional 273 shares during the period. Hedge funds and other institutional investors own 64.25% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Telsey Advisory Group lowered their target price on NIKE from $80.00 to $70.00 and set a "market perform" rating for the company in a research note on Tuesday, May 6th. Piper Sandler lowered their target price on NIKE from $90.00 to $70.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. Citigroup lowered their target price on NIKE from $72.00 to $57.00 and set a "neutral" rating for the company in a research note on Monday, April 28th. Bank of America lowered their target price on NIKE from $90.00 to $80.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Finally, BMO Capital Markets lowered their target price on NIKE from $95.00 to $92.00 and set an "outperform" rating for the company 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 company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $80.26.

NIKE Stock Down 3.8%

Shares of NIKE stock traded down $2.36 on Friday, reaching $60.44. The company's stock had a trading volume of 16,491,618 shares, compared to its average volume of 15,200,492. The company has a market capitalization of $89.40 billion, a price-to-earnings ratio of 18.65, a P/E/G ratio of 2.52 and a beta of 1.21. The firm's fifty day simple moving average is $59.38 and its two-hundred day simple moving average is $68.67. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $98.04. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57.

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

NIKE Dividend Announcement

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

Insider Buying and Selling

In other news, Director Robert Holmes Swan acquired 8,600 shares of the business's stock in a transaction that occurred on Friday, April 4th. The stock was bought 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 of the company's stock, valued at approximately $1,869,726.18. The trade was a 36.78% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

NIKE 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.