Townsquare Capital LLC raised its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 8.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 99,200 shares of the footwear maker's stock after buying an additional 7,908 shares during the period. Townsquare Capital LLC's holdings in NIKE were worth $6,297,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in the business. Brighton Jones LLC boosted its position in shares of NIKE by 388.5% during the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock valued at $15,316,000 after buying an additional 160,980 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in NIKE by 10.3% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker's stock worth $14,447,000 after acquiring an additional 17,888 shares during the last quarter. DRW Securities LLC bought a new stake in shares of NIKE in the 4th quarter worth $209,000. Covestor Ltd raised its holdings in shares of NIKE by 21.5% in the fourth quarter. Covestor Ltd now owns 1,382 shares of the footwear maker's stock valued at $105,000 after purchasing an additional 245 shares during the last quarter. Finally, Jaffetilchin Investment Partners LLC lifted its position in shares of NIKE by 191.6% during the fourth quarter. Jaffetilchin Investment Partners LLC now owns 5,178 shares of the footwear maker's stock valued at $392,000 after purchasing an additional 3,402 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on NKE. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $70.00 price objective on shares of NIKE in a research report on Friday, June 27th. HSBC raised NIKE from a "hold" rating to a "buy" rating and set a $80.00 price target for the company in a research report on Friday, June 27th. DZ Bank downgraded NIKE from a "buy" rating to a "hold" rating and set a $76.00 price objective for the company. in a research note on Thursday, July 10th. Berenberg Bank began coverage on NIKE in a research report on Tuesday, April 15th. They set a "hold" rating and a $58.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of NIKE from $77.00 to $71.00 and set a "buy" rating on the stock in a report on Friday, June 20th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, NIKE currently has an average rating of "Moderate Buy" and an average target price of $78.22.
View Our Latest Stock Report on NKE
NIKE Price Performance
Shares of NIKE stock opened at $74.17 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $90.62. The company has a fifty day moving average of $69.70 and a 200-day moving average of $67.60. The stock has a market capitalization of $109.54 billion, a price-to-earnings ratio of 34.34, a price-to-earnings-growth ratio of 2.70 and a beta of 1.27.
NIKE (NYSE:NKE - Get Free Report) last posted its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.02. NIKE had a return on equity of 23.33% and a net margin of 6.95%. The company had revenue of $11.10 billion for the quarter, compared to analysts' expectations of $10.69 billion. During the same period last year, the firm earned $0.99 earnings per share. NIKE's quarterly revenue was down 11.9% on a year-over-year basis. Equities research analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.
NIKE Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.60 annualized dividend and a yield of 2.2%. NIKE's dividend payout ratio (DPR) is currently 74.07%.
Insider Buying and Selling
In other news, Chairman Mark G. Parker sold 110,000 shares of the business's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the sale, the chairman owned 842,361 shares in the company, valued at approximately $60,894,276.69. The trade was a 11.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.80% of the company's stock.
NIKE Company Profile
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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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