Cacti Asset Management LLC Raises Stock Position in NIKE, Inc. (NYSE:NKE)

Cacti Asset Management LLC increased its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 123.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 298,309 shares of the footwear maker's stock after buying an additional 164,524 shares during the period. NIKE comprises approximately 1.5% of Cacti Asset Management LLC's portfolio, making the stock its 20th largest position. Cacti Asset Management LLC's holdings in NIKE were worth $18,880,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Klein Pavlis & Peasley Financial Inc. increased its position in NIKE by 31.1% during the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker's stock valued at $1,955,000 after purchasing an additional 6,124 shares during the period. Renaissance Technologies LLC raised its stake in NIKE by 1,302.7% during the fourth quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker's stock worth $196,901,000 after buying an additional 2,416,601 shares during the last quarter. Capitolis Liquid Global Markets LLC lifted its holdings in NIKE by 40.9% in the fourth quarter. Capitolis Liquid Global Markets LLC now owns 310,000 shares of the footwear maker's stock valued at $23,458,000 after buying an additional 90,000 shares during the period. Crews Bank & Trust acquired a new stake in NIKE during the 4th quarter worth about $623,000. Finally, Janus Henderson Group PLC raised its position in shares of NIKE by 8.3% in the 4th quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker's stock worth $460,160,000 after acquiring an additional 463,470 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

NIKE Stock Down 1.5%

NKE stock traded down $0.92 on Friday, reaching $60.52. 18,145,753 shares of the company traded hands, compared to its average volume of 15,031,109. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The firm has a fifty day simple moving average of $59.08 and a 200-day simple moving average of $69.67. NIKE, Inc. has a one year low of $52.28 and a one year high of $98.04. The company has a market cap of $89.52 billion, a P/E ratio of 18.68, a price-to-earnings-growth ratio of 2.52 and a beta of 1.23.

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

NIKE Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date is Monday, June 2nd. NIKE's payout ratio is 53.16%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Dbs Bank upgraded NIKE from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. Bank of America dropped their target price on shares of NIKE from $90.00 to $80.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Stifel Nicolaus cut their target price on shares of NIKE from $75.00 to $64.00 and set a "hold" rating on the stock in a research note on Thursday, April 10th. Morgan Stanley dropped their price objective on shares of NIKE from $72.00 to $70.00 and set an "equal weight" rating on the stock in a report on Friday, March 21st. Finally, Barclays cut their price objective on shares of NIKE from $70.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Monday, May 12th. Seventeen 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.com, NIKE has an average rating of "Moderate Buy" and an average target price of $80.26.

Insider Transactions at NIKE

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 bought at an average cost of $58.46 per share, with a total value of $502,756.00. Following the completion of the transaction, the director now directly owns 31,983 shares of the company's stock, valued at approximately $1,869,726.18. This represents a 36.78% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.10% of the company's stock.

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.