Perennial Advisors LLC Raises Holdings in NIKE, Inc. (NYSE:NKE)

Perennial Advisors LLC increased its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 46.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,664 shares of the footwear maker's stock after buying an additional 9,718 shares during the period. Perennial Advisors LLC's holdings in NIKE were worth $1,947,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Heck Capital Advisors LLC purchased a new position in shares of NIKE in the 4th quarter valued at about $28,000. Roxbury Financial LLC acquired a new stake in NIKE in the fourth quarter valued at approximately $30,000. LFA Lugano Financial Advisors SA increased its position in shares of NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock valued at $30,000 after buying an additional 210 shares in the last quarter. Hopwood Financial Services Inc. acquired a new position in shares of NIKE during the 4th quarter worth approximately $30,000. Finally, EnRich Financial Partners LLC lifted its position in shares of NIKE by 196.4% during the 4th 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 in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NKE. Wells Fargo & Company boosted their price target on shares of NIKE from $55.00 to $60.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 14th. Morgan Stanley dropped their target price on shares of NIKE from $72.00 to $70.00 and set an "equal weight" rating on the stock in a research report on Friday, March 21st. Barclays reduced their price target on shares of NIKE from $70.00 to $60.00 and set an "equal weight" rating for the company in a research report on Monday, May 12th. Dbs Bank upgraded NIKE from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. Finally, Truist Financial lowered their price target on NIKE from $90.00 to $82.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Seventeen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $80.26.

Insider Transactions at NIKE

In other NIKE news, Director Robert Holmes Swan purchased 8,600 shares of NIKE stock in a transaction dated Friday, April 4th. The shares were acquired at an average price of $58.46 per share, with a total value of $502,756.00. Following the completion of the transaction, the director now owns 31,983 shares of the company's stock, valued at $1,869,726.18. This trade represents a 36.78% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.10% of the company's stock.

NIKE Trading Down 1.4%

NKE traded down $0.89 on Monday, hitting $61.91. The company had a trading volume of 11,619,055 shares, compared to its average volume of 15,091,928. The company's fifty day moving average price is $58.86 and its 200 day moving average price is $69.15. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $98.04. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The firm has a market cap of $91.58 billion, a P/E ratio of 19.11, a PEG ratio of 2.52 and a beta of 1.21.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) 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 business had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. During the same period in the previous year, the firm earned $0.98 EPS. The business's revenue was down 9.1% on a year-over-year basis. As a group, equities analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE's dividend payout ratio (DPR) is 53.16%.

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.