Pekin Hardy Strauss Inc. lifted its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 65.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,816 shares of the footwear maker's stock after acquiring an additional 4,680 shares during the quarter. Pekin Hardy Strauss Inc.'s holdings in NIKE were worth $750,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Heck Capital Advisors LLC acquired a new position in shares of NIKE in the 4th quarter worth approximately $28,000. LFA Lugano Financial Advisors SA raised its stake in 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 buying an additional 210 shares during the last quarter. Hopwood Financial Services Inc. bought a new position in NIKE during the fourth quarter worth $30,000. EnRich Financial Partners LLC lifted its holdings in NIKE by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker's stock valued at $31,000 after buying an additional 273 shares during the period. Finally, Roxbury Financial LLC boosted its position in NIKE by 52.1% during the first quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock valued at $37,000 after acquiring an additional 201 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms have recently weighed in on NKE. Cfra Research raised NIKE to a "moderate buy" rating in a research report on Friday, March 21st. Williams Trading lowered their target price on NIKE from $93.00 to $73.00 and set a "buy" rating for the company in a report on Monday, April 21st. Evercore ISI dropped their price target on NIKE from $97.00 to $75.00 and set an "outperform" rating on the stock in a research note on Tuesday, June 24th. Citigroup increased their price target on NIKE from $57.00 to $68.00 and gave the stock a "neutral" rating in a report on Friday, June 27th. Finally, UBS Group began coverage on shares of NIKE in a research report on Sunday. They set a "buy" rating for the company. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $77.19.
Read Our Latest Stock Report on NKE
NIKE Stock Performance
NYSE NKE opened at $76.57 on Tuesday. The company has a fifty day moving average price of $62.75 and a 200-day moving average price of $67.35. The firm has a market cap of $113.26 billion, a price-to-earnings ratio of 35.45, a PEG ratio of 2.77 and a beta of 1.25. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $90.62.
NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. The business had revenue of $11.10 billion for the quarter, compared to analysts' expectations of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The firm's revenue for the quarter was down 11.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.99 earnings per share. As a group, equities research analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.
NIKE Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.09%. The ex-dividend date was Monday, June 2nd. NIKE's dividend payout ratio is presently 74.07%.
NIKE Profile
(
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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