Wealthspire Advisors LLC Boosts Stake in NIKE, Inc. (NYSE:NKE)

Wealthspire Advisors LLC boosted its position in NIKE, Inc. (NYSE:NKE - Free Report) by 103.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,308 shares of the footwear maker's stock after purchasing an additional 17,408 shares during the period. Wealthspire Advisors LLC's holdings in NIKE were worth $2,178,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Leisure Capital Management grew its holdings in NIKE by 11.2% during the 1st quarter. Leisure Capital Management now owns 23,640 shares of the footwear maker's stock valued at $1,501,000 after buying an additional 2,379 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its stake in NIKE by 52.0% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 672 shares of the footwear maker's stock valued at $43,000 after acquiring an additional 230 shares in the last quarter. Cary Street Partners Financial LLC increased its holdings in NIKE by 91.1% during the 1st quarter. Cary Street Partners Financial LLC now owns 17,678 shares of the footwear maker's stock worth $1,122,000 after acquiring an additional 8,428 shares during the period. Advyzon Investment Management LLC purchased a new stake in NIKE in the 1st quarter worth approximately $243,000. Finally, Wills Financial Group LLC bought a new position in NIKE in the 1st quarter valued at $412,000. 64.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Stifel Nicolaus lowered their price objective on NIKE from $75.00 to $64.00 and set a "hold" rating on the stock in a research report on Thursday, April 10th. Argus raised shares of NIKE to a "buy" rating in a research note on Sunday, July 6th. Morgan Stanley boosted their price target on shares of NIKE from $61.00 to $64.00 and gave the stock an "equal weight" rating in a research note on Friday, June 27th. The Goldman Sachs Group increased their price target on shares of NIKE from $72.00 to $81.00 and gave the stock a "buy" rating in a report on Friday, June 27th. Finally, Williams Trading dropped their price objective on shares of NIKE from $93.00 to $73.00 and set a "buy" rating for the company in a report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $78.22.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of NIKE 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 sale, the chairman owned 842,361 shares of the company's stock, valued at $60,894,276.69. The trade was a 11.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.80% of the stock is owned by insiders.

NIKE Stock Down 0.2%

Shares of NKE stock traded down $0.18 during mid-day trading on Friday, hitting $74.17. The company's stock had a trading volume of 6,733,814 shares, compared to its average volume of 11,448,546. 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 stock has a market cap of $109.54 billion, a price-to-earnings ratio of 34.34, a PEG ratio of 2.70 and a beta of 1.27. The business has a 50-day moving average price of $69.70 and a 200 day moving average price of $67.64.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The firm had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.69 billion. During the same quarter last year, the firm posted $0.99 EPS. The business's quarterly revenue was down 11.9% compared to the same quarter last year. Research analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 2nd. NIKE's dividend payout ratio is presently 74.07%.

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.