KG&L Capital Management LLC Acquires 4,776 Shares of NIKE, Inc. (NYSE:NKE)

KG&L Capital Management LLC grew its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 93.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 9,875 shares of the footwear maker's stock after buying an additional 4,776 shares during the quarter. KG&L Capital Management LLC's holdings in NIKE were worth $627,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in NKE. Wellington Management Group LLP boosted its holdings in NIKE by 32.4% in the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock valued at $2,749,903,000 after acquiring an additional 8,898,591 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of NIKE by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker's stock worth $1,915,110,000 after purchasing an additional 347,178 shares during the period. Capital World Investors boosted its stake 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 purchasing an additional 2,288,627 shares in the last quarter. Norges Bank purchased a new position in shares of NIKE during the fourth quarter valued at about $1,126,288,000. Finally, Northern Trust Corp raised its stake in NIKE by 8.8% in the fourth quarter. Northern Trust Corp now owns 14,690,435 shares of the footwear maker's stock worth $1,111,625,000 after buying an additional 1,183,641 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

NIKE Trading Down 0.9%

NIKE stock opened at $60.84 on Thursday. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $94.74. The firm has a market capitalization of $89.99 billion, a price-to-earnings ratio of 20.21, a P/E/G ratio of 2.21 and a beta of 1.21. The firm has a 50 day moving average of $60.17 and a 200 day moving average of $67.73. The company has a current ratio of 2.19, a quick ratio of 1.52 and a debt-to-equity ratio of 0.57.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be given 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 2.63%. NIKE's payout ratio is 53.16%.

Insider Activity at NIKE

In other NIKE news, Director Robert Holmes Swan acquired 8,600 shares of the company's stock in a transaction dated Friday, April 4th. The stock was purchased 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 in the company, valued at approximately $1,869,726.18. The trade was a 36.78% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

NKE has been the topic of several research reports. Royal Bank Of Canada cut their price objective on NIKE from $66.00 to $65.00 and set a "sector perform" rating on the stock in a research report on Tuesday, May 20th. Cfra Research upgraded NIKE to a "moderate buy" rating in a report on Friday, March 21st. Wells Fargo & Company boosted their target price on shares of NIKE from $55.00 to $60.00 and gave the company an "equal weight" rating in a report on Wednesday, May 14th. Robert W. Baird decreased their target price on shares of NIKE from $105.00 to $99.00 and set an "outperform" rating for the company in a research note on Friday, March 21st. Finally, The Goldman Sachs Group cut their price target on NIKE from $88.00 to $72.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Sixteen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, NIKE presently has an average rating of "Moderate Buy" and a consensus target price of $77.59.

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.

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