Security National Bank of SO Dak boosted its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 12.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,418 shares of the footwear maker's stock after acquiring an additional 3,767 shares during the quarter. NIKE comprises 1.2% of Security National Bank of SO Dak's investment portfolio, making the stock its 28th biggest holding. Security National Bank of SO Dak's holdings in NIKE were worth $2,185,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently modified their holdings of the company. Callan Capital LLC lifted its position in NIKE by 7.4% in the first quarter. Callan Capital LLC now owns 3,718 shares of the footwear maker's stock valued at $236,000 after purchasing an additional 256 shares during the period. TD Private Client Wealth LLC lifted its holdings in shares of NIKE by 5.4% in the 1st quarter. TD Private Client Wealth LLC now owns 7,188 shares of the footwear maker's stock valued at $456,000 after buying an additional 367 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of NIKE by 9.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,358,099 shares of the footwear maker's stock valued at $86,212,000 after buying an additional 113,900 shares during the period. Crew Capital Management Ltd. lifted its holdings in NIKE by 1.4% in the first quarter. Crew Capital Management Ltd. now owns 13,752 shares of the footwear maker's stock valued at $873,000 after acquiring an additional 192 shares during the period. Finally, Vickerman Investment Advisors Inc. lifted its holdings in NIKE by 46.9% in the first quarter. Vickerman Investment Advisors Inc. now owns 38,826 shares of the footwear maker's stock valued at $2,465,000 after acquiring an additional 12,387 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research firms have commented on NKE. HSBC raised NIKE from a "hold" rating to a "buy" rating and set a $80.00 target price for the company in a report on Friday, June 27th. JPMorgan Chase & Co. raised their price objective on shares of NIKE from $56.00 to $64.00 and gave the company a "neutral" rating in a research note on Friday, June 27th. The Goldman Sachs Group lifted their price objective on NIKE from $72.00 to $81.00 and gave the stock a "buy" rating in a report on Friday, June 27th. China Renaissance initiated coverage on NIKE in a report on Wednesday, March 19th. They set a "hold" rating for the company. Finally, Bank of America lifted their price target on NIKE from $80.00 to $84.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $77.19.
Check Out Our Latest Report on NIKE
NIKE Stock Down 3.0%
NYSE:NKE traded down $2.33 on Tuesday, reaching $74.20. The stock had a trading volume of 7,428,612 shares, compared to its average volume of 15,334,712. The company has a 50-day moving average of $62.75 and a 200 day moving average of $67.35. 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 stock has a market cap of $109.75 billion, a P/E ratio of 34.36, a price-to-earnings-growth ratio of 2.77 and a beta of 1.25. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $90.62.
NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. NIKE had a return on equity of 23.33% and a net margin of 6.95%. The company had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same period last year, the firm earned $0.99 earnings per share. The company's revenue was down 11.9% on a year-over-year basis. On average, research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.
NIKE Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend was Monday, June 2nd. NIKE's payout ratio is currently 74.07%.
About NIKE
(
Free Report)
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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