Ameriprise Financial Inc. Increases Stake in NIKE, Inc. (NYSE:NKE)

Ameriprise Financial Inc. lifted its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 5.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,375,733 shares of the footwear maker's stock after buying an additional 77,065 shares during the period. Ameriprise Financial Inc. owned about 0.09% of NIKE worth $101,292,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of NKE. International Assets Investment Management LLC bought a new position in shares of NIKE during the 4th quarter worth approximately $512,000. Watts Gwilliam & Co. LLC bought a new stake in NIKE during the fourth quarter worth $326,000. Fortitude Family Office LLC lifted its holdings in NIKE by 6.1% during the fourth quarter. Fortitude Family Office LLC now owns 2,988 shares of the footwear maker's stock worth $226,000 after acquiring an additional 171 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in NIKE by 0.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 206,023 shares of the footwear maker's stock valued at $15,590,000 after purchasing an additional 1,120 shares during the period. Finally, Harbor Capital Advisors Inc. increased its position in shares of NIKE by 2.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 16,475 shares of the footwear maker's stock valued at $1,247,000 after purchasing an additional 404 shares during the last quarter. Institutional investors own 64.25% of the company's stock.

Insider Buying and Selling at NIKE

In other news, Director Robert Holmes Swan purchased 8,600 shares of the stock in a transaction that occurred on 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 acquisition, the director now directly owns 31,983 shares of the company's stock, valued at $1,869,726.18. This represents a 36.78 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mark G. Parker sold 169,732 shares of the firm's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the sale, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company's stock.

NIKE Price Performance

NKE traded down $0.56 during midday trading on Friday, hitting $58.35. The stock had a trading volume of 13,927,237 shares, compared to its average volume of 14,709,636. The company has a market cap of $86.31 billion, a P/E ratio of 18.01, a price-to-earnings-growth ratio of 2.52 and a beta of 1.23. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $98.04. The business has a fifty day moving average of $62.52 and a 200 day moving average of $71.25.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.26. The business had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm's revenue for the quarter was down 9.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.98 earnings per share. As a group, equities analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.74%. NIKE's dividend payout ratio (DPR) is currently 53.16%.

Wall Street Analyst Weigh In

NKE has been the subject of several research reports. The Goldman Sachs Group reduced their price target on shares of NIKE from $88.00 to $72.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Williams Trading reduced 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. Guggenheim restated a "buy" rating and set a $110.00 price target on shares of NIKE in a research note on Wednesday, February 12th. Stifel Nicolaus reduced their price objective on NIKE from $75.00 to $64.00 and set a "hold" rating for the company in a report on Thursday, April 10th. Finally, Morgan Stanley lowered their target price on NIKE from $72.00 to $70.00 and set an "equal weight" rating on the stock in a research note on Friday, March 21st. Seventeen 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. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $80.48.

NIKE 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.