K.J. Harrison & Partners Inc Purchases New Shares in NIKE, Inc. (NYSE:NKE)

K.J. Harrison & Partners Inc purchased a new stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 40,152 shares of the footwear maker's stock, valued at approximately $2,549,000.

A number of other hedge funds also recently bought and sold shares of the business. Heck Capital Advisors LLC bought a new stake in shares of NIKE in the 4th quarter worth about $28,000. LFA Lugano Financial Advisors SA lifted its holdings in shares of 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 acquiring an additional 210 shares during the last quarter. Hopwood Financial Services Inc. bought a new stake in shares of NIKE in the 4th quarter worth about $30,000. EnRich Financial Partners LLC lifted its holdings in shares of 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 acquiring an additional 273 shares during the last quarter. Finally, Roxbury Financial LLC boosted its position in shares of NIKE by 52.1% during the first quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock valued at $37,000 after buying an additional 201 shares during the period. Hedge funds and other institutional investors own 64.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NKE. Barclays boosted their target price on NIKE from $53.00 to $64.00 and gave the company an "equal weight" rating in a research report on Friday. Wall Street Zen lowered NIKE from a "hold" rating to a "sell" rating in a research report on Friday. Jefferies Financial Group restated a "buy" rating on shares of NIKE in a research report on Friday, May 23rd. The Goldman Sachs Group boosted their target price on NIKE from $72.00 to $81.00 and gave the company a "buy" rating in a research report on Friday. Finally, Williams Trading dropped their target price on NIKE from $93.00 to $73.00 and set a "buy" rating for the company in a research report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, NIKE presently has an average rating of "Moderate Buy" and a consensus price target of $77.00.

NIKE Stock Up 15.3%

Shares of NIKE stock opened at $72.09 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.19 and a quick ratio of 1.52. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $90.62. The firm's 50-day moving average is $60.63 and its two-hundred day moving average is $67.52. The stock has a market cap of $106.63 billion, a price-to-earnings ratio of 33.38, a PEG ratio of 2.64 and a beta of 1.21.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.00%. The business had revenue of $11.10 billion for the quarter, compared to analysts' expectations of $10.69 billion. During the same period last year, the business earned $0.99 EPS. The company's revenue was down 11.9% compared to the same quarter last year. As a group, research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE's dividend payout ratio is currently 53.16%.

Insider Activity

In other news, Director Robert Holmes Swan purchased 8,600 shares of the stock in a transaction dated Friday, April 4th. The shares were acquired at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the acquisition, the director now owns 31,983 shares of the company's stock, valued at approximately $1,869,726.18. This represents a 36.78% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company 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.

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