Kanawha Capital Management LLC Boosts Holdings in NIKE, Inc. (NYSE:NKE)

Kanawha Capital Management LLC boosted its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 2.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 184,558 shares of the footwear maker's stock after purchasing an additional 4,593 shares during the quarter. Kanawha Capital Management LLC's holdings in NIKE were worth $11,716,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in NKE. Norges Bank purchased a new stake in NIKE in the fourth quarter valued at approximately $1,126,288,000. Wellington Management Group LLP increased its holdings in shares of NIKE by 32.4% in the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock worth $2,749,903,000 after buying an additional 8,898,591 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of NIKE by 1,302.7% during the 4th quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker's stock valued at $196,901,000 after buying an additional 2,416,601 shares in the last quarter. Capital World Investors raised its position in shares of NIKE by 10.3% during the 4th quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock valued at $1,857,389,000 after buying an additional 2,288,627 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of NIKE during the 4th quarter worth $156,438,000. Hedge funds and other institutional investors own 64.25% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Hsbc Global Res raised NIKE from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 27th. Barclays upped their target price on NIKE from $53.00 to $64.00 and gave the stock an "equal weight" rating in a research note on Friday, June 27th. Argus raised shares of NIKE from a "hold" rating to a "buy" rating and set a $85.00 price target on the stock in a research note on Tuesday. Royal Bank Of Canada cut their price objective on shares of NIKE from $66.00 to $65.00 and set a "sector perform" rating for the company in a research note on Tuesday, May 20th. Finally, Wells Fargo & Company lifted their target price on shares of NIKE from $55.00 to $60.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, fifteen 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 price target of $77.19.

Insider Buying and Selling

In other NIKE news, Director Robert Holmes Swan acquired 8,600 shares of the company's stock in a transaction that occurred on Friday, April 4th. The shares were purchased 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 directly owned 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 acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 1.10% of the stock is currently owned by insiders.

NIKE Stock Up 4.1%

Shares of NYSE NKE traded up $3.03 during mid-day trading on Wednesday, reaching $76.44. The company had a trading volume of 36,854,979 shares, compared to its average volume of 15,431,322. 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 $113.06 billion, a P/E ratio of 35.39, a PEG ratio of 2.57 and a beta of 1.25. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. The firm has a 50 day simple moving average of $61.26 and a two-hundred day simple moving average of $67.44.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. The company had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. NIKE's quarterly revenue was down 11.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.99 earnings per share. Sell-side analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 2nd were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.60 annualized dividend and a yield of 2.09%. NIKE's dividend payout ratio is currently 53.16%.

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.