World Investment Advisors Grows Stock Position in NIKE, Inc. (NYSE:NKE)

World Investment Advisors lifted its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 12.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 55,203 shares of the footwear maker's stock after acquiring an additional 6,078 shares during the period. World Investment Advisors' holdings in NIKE were worth $3,504,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Heck Capital Advisors LLC purchased a new stake in NIKE in the 4th quarter valued at about $28,000. LFA Lugano Financial Advisors SA raised its holdings in NIKE by 110.5% in the 4th 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 during the period. Hopwood Financial Services Inc. purchased a new stake in NIKE in the 4th quarter valued at about $30,000. EnRich Financial Partners LLC raised its holdings in 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 buying an additional 273 shares during the period. Finally, Roxbury Financial LLC raised its holdings in NIKE by 52.1% in the 1st quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock valued at $37,000 after buying an additional 201 shares during the period. Hedge funds and other institutional investors own 64.25% of the company's stock.

NIKE Stock Down 3.1%

NKE traded down $2.35 on Tuesday, reaching $74.18. The company's stock had a trading volume of 5,126,510 shares, compared to its average volume of 15,325,275. The stock has a 50 day moving average of $62.75 and a two-hundred day moving average of $67.35. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $109.72 billion, a price-to-earnings ratio of 34.42, a P/E/G ratio of 2.77 and a beta of 1.25. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $90.62.

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 return on equity of 23.33% and a net margin of 6.95%. The firm had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same period in the prior year, the company posted $0.99 earnings per share. The firm's quarterly revenue was down 11.9% compared to the same quarter last year. As a group, analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date was Monday, June 2nd. NIKE's dividend payout ratio is currently 74.07%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Williams Trading reduced their price objective on shares of NIKE from $93.00 to $73.00 and set a "buy" rating on the stock in a report on Monday, April 21st. Morgan Stanley boosted their price objective on shares of NIKE from $61.00 to $64.00 and gave the company an "equal weight" rating in a report on Friday, June 27th. Jefferies Financial Group restated a "buy" rating on shares of NIKE in a report on Friday, May 23rd. Piper Sandler lifted their target price on NIKE from $70.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, June 27th. Finally, Stifel Nicolaus dropped their target price on NIKE from $75.00 to $64.00 and set a "hold" rating for the company in a research report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $77.19.

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.