NIKE, Inc. (NYSE:NKE) Position Lifted by Olstein Capital Management L.P.

Olstein Capital Management L.P. increased its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 42.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 91,000 shares of the footwear maker's stock after buying an additional 27,000 shares during the period. Olstein Capital Management L.P.'s holdings in NIKE were worth $5,777,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Renaissance Technologies LLC boosted its stake 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 worth $196,901,000 after buying an additional 2,416,601 shares during the period. Capitolis Liquid Global Markets LLC lifted its stake in shares of 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 purchasing an additional 90,000 shares during the period. Janus Henderson Group PLC grew its position in NIKE by 8.3% during the fourth quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker's stock worth $460,160,000 after buying an additional 463,470 shares during the period. Markel Group Inc. increased its holdings in NIKE by 0.8% in 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 in the last quarter. Finally, Evergreen Capital Management LLC lifted its position in shares of NIKE by 3.3% during the 4th quarter. Evergreen Capital Management LLC now owns 237,199 shares of the footwear maker's stock valued at $18,042,000 after acquiring an additional 7,536 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Trading Down 0.5%

NKE stock traded down $0.30 during midday trading on Thursday, reaching $62.81. 9,823,572 shares of the company's stock traded hands, compared to its average volume of 15,115,575. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $98.04. The business has a 50-day moving average price of $59.09 and a two-hundred day moving average price of $68.97. The company has a market capitalization of $92.90 billion, a P/E ratio of 19.39, a PEG ratio of 2.52 and a beta of 1.21. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

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

NIKE Dividend Announcement

The business also recently declared 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 yield of 2.55%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE's dividend payout ratio is presently 53.16%.

Insider Buying and Selling at NIKE

In other news, Director Robert Holmes Swan purchased 8,600 shares of the stock in a transaction that occurred on Friday, April 4th. The stock was acquired at an average cost of $58.46 per share, with a total value of $502,756.00. Following the acquisition, 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. reduced their price objective on NIKE from $64.00 to $56.00 and set a "neutral" rating for the company in a report on Monday, May 5th. Royal Bank of Canada dropped their price target on NIKE from $66.00 to $65.00 and set a "sector perform" rating for the company in a research report on Tuesday, May 20th. BMO Capital Markets lowered their price objective on shares of NIKE from $95.00 to $92.00 and set an "outperform" rating on the stock in a research note on Friday, March 21st. Telsey Advisory Group cut their target price on shares of NIKE from $80.00 to $70.00 and set a "market perform" rating for the company in a research report on Tuesday, May 6th. Finally, Cfra Research raised shares of NIKE to a "moderate buy" rating in a report on Friday, March 21st. Seventeen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, NIKE has a consensus rating of "Moderate Buy" and a consensus target price of $80.26.

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.