Wealthfront Advisers LLC Has $7.45 Million Holdings in NIKE, Inc. (NYSE:NKE)

Wealthfront Advisers LLC grew its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 42.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 117,400 shares of the footwear maker's stock after acquiring an additional 34,832 shares during the quarter. Wealthfront Advisers LLC's holdings in NIKE were worth $7,453,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. West Family Investments Inc. acquired a new position in shares of NIKE during the 1st quarter valued at about $203,000. Firestone Capital Management acquired a new position in shares of NIKE during the 1st quarter valued at about $77,000. SBI Securities Co. Ltd. increased its stake in shares of NIKE by 12.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 24,539 shares of the footwear maker's stock valued at $1,558,000 after acquiring an additional 2,691 shares during the last quarter. Pioneer Trust Bank N A OR increased its stake in shares of NIKE by 0.6% during the 1st quarter. Pioneer Trust Bank N A OR now owns 70,968 shares of the footwear maker's stock valued at $4,505,000 after acquiring an additional 400 shares during the last quarter. Finally, Sigma Planning Corp increased its stake in shares of NIKE by 9.6% during the 1st quarter. Sigma Planning Corp now owns 17,297 shares of the footwear maker's stock valued at $1,098,000 after acquiring an additional 1,515 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company's stock.

NIKE Stock Performance

Shares of NKE traded down $0.48 during trading hours on Friday, reaching $72.50. 8,789,897 shares of the company's stock traded hands, compared to its average volume of 17,779,018. The firm has a market capitalization of $107.24 billion, a price-to-earnings ratio of 33.56, a P/E/G ratio of 2.65 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 twelve month low of $52.28 and a twelve month high of $90.62. The business's fifty day simple moving average is $65.21 and its two-hundred day simple moving average is $67.29.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating 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 business had revenue of $11.10 billion during the quarter, compared to analysts' expectations of $10.69 billion. During the same quarter last year, the business posted $0.99 earnings per share. The company's quarterly revenue was down 11.9% on a year-over-year basis. Analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 2nd were given a $0.40 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.21%. NIKE's dividend payout ratio (DPR) is 74.07%.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of the transaction, the chairman owned 842,361 shares in the company, valued at $60,894,276.69. This trade represents a 11.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Berenberg Bank assumed coverage on shares of NIKE in a research report on Tuesday, April 15th. They set a "hold" rating and a $58.00 target price for the company. Morgan Stanley increased their target price on shares of NIKE from $61.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Friday, June 27th. Williams Trading dropped their target price on shares of NIKE from $93.00 to $73.00 and set a "buy" rating for the company in a research report on Monday, April 21st. Piper Sandler increased their target price on shares of NIKE from $70.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, June 27th. Finally, Citigroup increased their target price on shares of NIKE from $57.00 to $68.00 and gave the stock a "neutral" rating in a research report on Friday, June 27th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $77.15.

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.