Wealth Enhancement Advisory Services LLC Grows Position in NIKE, Inc. (NYSE:NKE)

Wealth Enhancement Advisory Services LLC lifted its position in NIKE, Inc. (NYSE:NKE - Free Report) by 9.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 177,009 shares of the footwear maker's stock after purchasing an additional 14,748 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in NIKE were worth $11,236,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Heck Capital Advisors LLC acquired a new stake in shares of NIKE during the fourth quarter worth about $28,000. LFA Lugano Financial Advisors SA raised its position in NIKE by 110.5% during the 4th 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. purchased a new position in shares of NIKE in the 4th quarter valued at about $30,000. EnRich Financial Partners LLC increased its holdings in shares of NIKE by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker's stock valued at $31,000 after purchasing an additional 273 shares in the last quarter. Finally, BankPlus Trust Department purchased a new position in NIKE during the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 64.25% of the company's stock.

NIKE Trading Up 1.7%

Shares of NKE stock opened at $60.81 on Tuesday. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $98.04. The company has a quick ratio of 1.52, a current ratio of 2.19 and a debt-to-equity ratio of 0.57. The business's 50 day moving average is $59.89 and its two-hundred day moving average is $67.82. The company has a market cap of $89.95 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 2.11 and a beta of 1.21.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be given a $0.40 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.63%. NIKE's dividend payout ratio is 53.16%.

Analyst Ratings Changes

A number of analysts recently issued reports on NKE shares. UBS Group decreased their target price on shares of NIKE from $73.00 to $66.00 and set a "neutral" rating on the stock in a research report on Friday, March 21st. BMO Capital Markets dropped their price target on shares of NIKE from $95.00 to $92.00 and set an "outperform" rating for the company in a research note on Friday, March 21st. Williams Trading lowered their target price on shares of NIKE from $93.00 to $73.00 and set a "buy" rating for the company in a research note on Monday, April 21st. Jefferies Financial Group reaffirmed a "buy" rating on shares of NIKE in a report on Friday, May 23rd. Finally, Morgan Stanley cut their price target on shares of NIKE from $70.00 to $61.00 and set an "equal weight" rating for the company in a report on Tuesday, June 17th. Sixteen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, NIKE currently has a consensus rating of "Moderate Buy" and a consensus target price of $78.74.

Insider Buying and Selling

In other NIKE news, Director Robert Holmes Swan bought 8,600 shares of the stock in a transaction dated Friday, April 4th. The stock was bought at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the purchase, the director now owns 31,983 shares in the company, valued at $1,869,726.18. This represents a 36.78% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is owned by company insiders.

NIKE Company 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.

Want to see what other hedge funds are holding NKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NIKE, Inc. (NYSE:NKE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.