NIKE, Inc. (NYSE:NKE) Stake Raised by Absher Wealth Management LLC

Absher Wealth Management LLC grew its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 7.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 419,650 shares of the footwear maker's stock after buying an additional 27,630 shares during the period. NIKE accounts for about 3.5% of Absher Wealth Management LLC's investment portfolio, making the stock its 11th biggest holding. Absher Wealth Management LLC's holdings in NIKE were worth $26,639,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Renaissance Technologies LLC raised its holdings in shares of NIKE by 1,302.7% during the fourth quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker's stock valued at $196,901,000 after buying an additional 2,416,601 shares during the last quarter. Capitolis Liquid Global Markets LLC raised its holdings in shares of NIKE by 40.9% during 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 last quarter. Janus Henderson Group PLC raised its holdings in shares of NIKE by 8.3% during the fourth quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker's stock valued at $460,160,000 after buying an additional 463,470 shares during the last quarter. Markel Group Inc. raised its holdings in shares of NIKE by 0.8% during the fourth quarter. Markel Group Inc. now owns 432,400 shares of the footwear maker's stock valued at $32,720,000 after buying an additional 3,500 shares during the last quarter. Finally, Evergreen Capital Management LLC raised its holdings in shares of NIKE by 3.3% during the fourth quarter. Evergreen Capital Management LLC now owns 237,199 shares of the footwear maker's stock valued at $18,042,000 after buying an additional 7,536 shares during the last quarter. Institutional investors own 64.25% of the company's stock.

Insiders Place Their Bets

In other news, Director Robert Holmes Swan acquired 8,600 shares of the stock in a transaction on Friday, April 4th. The shares were purchased at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the transaction, the director now owns 31,983 shares in the company, valued at approximately $1,869,726.18. This trade represents a 36.78% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.10% of the company's stock.

NIKE Trading Up 0.4%

NYSE NKE opened at $59.78 on Friday. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $98.04. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.52 and a current ratio of 2.19. The stock has a market cap of $88.41 billion, a price-to-earnings ratio of 19.86, a PEG ratio of 2.11 and a beta of 1.21. The firm's 50 day moving average price is $59.78 and its two-hundred day moving average price is $68.02.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.26. NIKE had a net margin of 9.43% and a return on equity of 32.18%. The firm had revenue of $11.27 billion for the quarter, compared to analysts' expectations of $11.02 billion. During the same period in the previous year, the company posted $0.98 EPS. The company's quarterly revenue was down 9.1% compared to the same quarter last year. Equities analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE's payout ratio is 53.16%.

Wall Street Analyst Weigh In

NKE has been the topic of a number of recent analyst reports. Citigroup cut their price target on NIKE from $72.00 to $57.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. Barclays lowered their price objective on shares of NIKE from $60.00 to $53.00 and set an "equal weight" rating on the stock in a research note on Wednesday. The Goldman Sachs Group lowered their price objective on shares of NIKE from $88.00 to $72.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Royal Bank Of Canada lowered their price objective on shares of NIKE from $66.00 to $65.00 and set a "sector perform" rating on the stock in a research note on Tuesday, May 20th. Finally, Needham & Company LLC lowered their price objective on shares of NIKE from $75.00 to $66.00 and set a "buy" rating on the stock in a research note on Wednesday. Sixteen analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $78.74.

About NIKE

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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