Olstein Capital Management L.P. Boosts Holdings in NIKE, Inc. (NYSE:NKE)

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

A number of other institutional investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC lifted its holdings in NIKE by 388.5% during the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock worth $15,316,000 after buying an additional 160,980 shares during the period. Silver Oak Securities Incorporated boosted its stake in shares of NIKE by 15.9% in the 4th quarter. Silver Oak Securities Incorporated now owns 3,329 shares of the footwear maker's stock valued at $248,000 after purchasing an additional 456 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of NIKE in the 4th quarter valued at $4,342,000. Golden State Wealth Management LLC bought a new stake in shares of NIKE in the 4th quarter valued at $196,000. Finally, Cidel Asset Management Inc. boosted its stake in shares of NIKE by 14.6% in the 4th quarter. Cidel Asset Management Inc. now owns 6,465 shares of the footwear maker's stock valued at $489,000 after purchasing an additional 822 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

Insider Activity

In other NIKE news, Director Robert Holmes Swan bought 8,600 shares of the business's stock in a transaction dated Friday, April 4th. The shares were purchased at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the purchase, the director now directly owns 31,983 shares of the company's stock, valued at approximately $1,869,726.18. This represents a 36.78% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

NIKE Stock Up 3.2%

Shares of NIKE stock traded up $1.99 during trading hours on Tuesday, reaching $63.90. The company's stock had a trading volume of 15,265,176 shares, compared to its average volume of 15,124,969. NIKE, Inc. has a one year low of $52.28 and a one year high of $98.04. The company has a market capitalization of $94.51 billion, a P/E ratio of 19.72, a P/E/G ratio of 2.52 and a beta of 1.21. The stock's fifty day simple moving average is $58.80 and its two-hundred day simple moving average is $69.04. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22.

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

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date is Monday, June 2nd. NIKE's dividend payout ratio (DPR) is 53.16%.

Analyst Ratings Changes

A number of research firms have recently commented on NKE. Barclays reduced their price objective on shares of NIKE from $70.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Monday, May 12th. UBS Group reduced their price objective on shares of NIKE from $73.00 to $66.00 and set a "neutral" rating on the stock in a research note on Friday, March 21st. Guggenheim reaffirmed a "buy" rating and issued a $110.00 price objective on shares of NIKE in a research note on Wednesday, February 12th. BMO Capital Markets reduced 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. Finally, JPMorgan Chase & Co. reduced their price objective on shares of NIKE from $64.00 to $56.00 and set a "neutral" rating on the stock in a research note on Monday, May 5th. Seventeen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, NIKE presently has an average rating of "Moderate Buy" and a consensus price target of $80.26.

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.