Saybrook Capital NC Purchases 18,645 Shares of NIKE, Inc. (NYSE:NKE)

Saybrook Capital NC lifted its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 10.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 196,667 shares of the footwear maker's stock after acquiring an additional 18,645 shares during the period. NIKE accounts for about 3.4% of Saybrook Capital NC's holdings, making the stock its 9th biggest position. Saybrook Capital NC's holdings in NIKE were worth $12,484,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of NKE. Brighton Jones LLC raised its stake in shares of NIKE by 388.5% during the fourth 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 during the last quarter. Bank Pictet & Cie Europe AG raised its position in NIKE by 10.3% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker's stock worth $14,447,000 after buying an additional 17,888 shares during the last quarter. TCW Group Inc. lifted its stake in shares of NIKE by 1.6% in the 4th quarter. TCW Group Inc. now owns 16,482 shares of the footwear maker's stock worth $1,247,000 after acquiring an additional 264 shares during the period. Howard Capital Management Inc. boosted its holdings in shares of NIKE by 6.5% in the fourth quarter. Howard Capital Management Inc. now owns 8,263 shares of the footwear maker's stock valued at $625,000 after acquiring an additional 505 shares in the last quarter. Finally, Forvis Mazars Wealth Advisors LLC boosted its holdings in shares of NIKE by 3.4% in the fourth quarter. Forvis Mazars Wealth Advisors LLC now owns 6,603 shares of the footwear maker's stock valued at $500,000 after acquiring an additional 220 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Robert W. Baird lowered their price target on shares of NIKE from $105.00 to $99.00 and set an "outperform" rating on the stock in a research note on Friday, March 21st. Morgan Stanley cut their price target on NIKE from $70.00 to $61.00 and set an "equal weight" rating on the stock in a research note on Tuesday, June 17th. China Renaissance started coverage on shares of NIKE in a report on Wednesday, March 19th. They issued a "hold" rating for the company. Bank of America decreased their price objective on shares of NIKE from $90.00 to $80.00 and set a "buy" rating for the company in a report on Friday, April 25th. Finally, Citigroup lowered their price objective on shares of NIKE from $72.00 to $57.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. Sixteen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $77.59.

Insider Buying and Selling at NIKE

In related 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, with a total value of $502,756.00. Following the purchase, the director now directly owns 31,983 shares in the company, valued at $1,869,726.18. This trade represents a 36.78% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

NIKE Stock Up 3.1%

NKE traded up $1.88 on Thursday, reaching $62.71. The company's stock had a trading volume of 34,370,648 shares, compared to its average volume of 15,436,769. The company has a market capitalization of $92.75 billion, a price-to-earnings ratio of 20.83, a P/E/G ratio of 2.23 and a beta of 1.21. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $94.74. The company has a quick ratio of 1.52, a current ratio of 2.19 and a debt-to-equity ratio of 0.57. The stock has a 50 day moving average of $60.17 and a two-hundred day moving average of $67.73.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. NIKE had a return on equity of 32.18% and a net margin of 9.43%. The firm had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.69 billion. During the same quarter last year, the company posted $0.99 earnings per share. The business's revenue was down 11.9% on a year-over-year basis. As a group, analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be given a $0.40 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.55%. NIKE's dividend payout ratio (DPR) is 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.