NIKE, Inc. (NYSE:NKE) Shares Purchased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lifted its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 8.2% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 140,764 shares of the footwear maker's stock after buying an additional 10,679 shares during the quarter. Janney Montgomery Scott LLC's holdings in NIKE were worth $8,936,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of NKE. Brighton Jones LLC raised its stake in NIKE by 388.5% in the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock worth $15,316,000 after purchasing an additional 160,980 shares in the last quarter. Bank Pictet & Cie Europe AG raised its stake in NIKE by 10.3% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker's stock worth $14,447,000 after purchasing an additional 17,888 shares in the last quarter. Bank of Jackson Hole Trust acquired a new stake in NIKE in the 4th quarter worth about $43,000. Private Advisor Group LLC raised its stake in NIKE by 9.8% in the 4th quarter. Private Advisor Group LLC now owns 82,672 shares of the footwear maker's stock worth $6,256,000 after purchasing an additional 7,398 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its stake in NIKE by 0.9% in the 4th quarter. Handelsbanken Fonder AB now owns 528,938 shares of the footwear maker's stock worth $40,025,000 after purchasing an additional 4,793 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company's stock.

NIKE Stock Up 0.4%

Shares of NYSE NKE traded up $0.27 on Friday, reaching $59.78. 19,005,737 shares of the company's stock traded hands, compared to its average volume of 15,291,197. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $98.04. The company has a market cap of $88.41 billion, a price-to-earnings ratio of 19.86, a price-to-earnings-growth ratio of 2.11 and a beta of 1.21. The business's 50 day simple moving average is $59.78 and its two-hundred day simple moving average is $68.02. 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 data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.26. NIKE had a net margin of 9.43% and a return on equity of 32.18%. The company had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. During the same period in the previous year, the business earned $0.98 EPS. The firm's revenue for the quarter was down 9.1% on a year-over-year basis. As a group, equities research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE's dividend payout ratio is currently 53.16%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Williams Trading dropped their price objective on shares of NIKE from $93.00 to $73.00 and set a "buy" rating for the company in a research note on Monday, April 21st. BMO Capital Markets dropped their price objective on shares of NIKE from $95.00 to $92.00 and set an "outperform" rating for the company in a research note on Friday, March 21st. Piper Sandler dropped their price objective on shares of NIKE from $90.00 to $70.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. JPMorgan Chase & Co. dropped their target price on shares of NIKE from $64.00 to $56.00 and set a "neutral" rating for the company in a research report on Monday, May 5th. Finally, China Renaissance began coverage on shares of NIKE in a research report on Wednesday, March 19th. They issued a "hold" rating for the company. Seventeen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $78.74.

Insider Transactions at NIKE

In related news, Director Robert Holmes Swan bought 8,600 shares of the business's stock in a transaction dated 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 purchase, the director now directly owns 31,983 shares of the company's stock, valued at approximately $1,869,726.18. This trade represents a 36.78% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.10% of the company's stock.

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.