DAVENPORT & Co LLC Boosts Stake in NIKE, Inc. (NYSE:NKE)

DAVENPORT & Co LLC lifted its position in NIKE, Inc. (NYSE:NKE - Free Report) by 4.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 95,387 shares of the footwear maker's stock after purchasing an additional 3,654 shares during the period. DAVENPORT & Co LLC's holdings in NIKE were worth $6,047,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of NKE. Heck Capital Advisors LLC bought a new stake in NIKE during the fourth quarter valued at about $28,000. LFA Lugano Financial Advisors SA grew its position in shares of NIKE by 110.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock worth $30,000 after purchasing an additional 210 shares in the last quarter. Hopwood Financial Services Inc. bought a new stake in NIKE during the 4th quarter valued at approximately $30,000. EnRich Financial Partners LLC lifted its holdings in 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 purchasing an additional 273 shares in the last quarter. Finally, Roxbury Financial LLC boosted its stake in NIKE by 52.1% in the 1st quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock worth $37,000 after purchasing an additional 201 shares during the period. 64.25% of the stock is currently owned by institutional investors.

NIKE Stock Performance

Shares of NKE stock traded down $0.11 during trading hours on Thursday, hitting $76.28. The company's stock had a trading volume of 12,022,568 shares, compared to its average volume of 15,374,678. The stock has a market cap of $112.83 billion, a PE ratio of 35.31, a price-to-earnings-growth ratio of 2.65 and a beta of 1.25. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $90.62. The company has a 50 day moving average of $61.64 and a 200 day moving average of $67.50. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. The company had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The firm's revenue was down 11.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.99 earnings per share. On average, sell-side analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 2nd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.10%. The ex-dividend date was Monday, June 2nd. NIKE's dividend payout ratio (DPR) is 53.16%.

Insiders Place Their Bets

In related news, Director Robert Holmes Swan purchased 8,600 shares of the firm's stock in a transaction on Friday, April 4th. The stock was bought at an average cost of $58.46 per share, with a total value of $502,756.00. Following the completion of the acquisition, the director owned 31,983 shares of the company's stock, valued at $1,869,726.18. The trade was a 36.78% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

NKE has been the topic of several research analyst reports. Berenberg Bank initiated coverage on shares of NIKE in a report on Tuesday, April 15th. They issued a "hold" rating and a $58.00 target price on the stock. Telsey Advisory Group reissued a "market perform" rating and set a $70.00 price objective on shares of NIKE in a report on Friday, June 27th. HSBC upgraded NIKE from a "hold" rating to a "buy" rating and set a $80.00 price objective for the company in a research report on Friday, June 27th. UBS Group reiterated a "neutral" rating and issued a $63.00 target price on shares of NIKE in a research report on Friday, June 27th. Finally, Robert W. Baird raised their price target on NIKE from $80.00 to $88.00 and gave the company an "outperform" rating in a report on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $77.19.

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.