Gateway Investment Advisers LLC increased its stake in shares of NIKE, Inc. (NYSE:NKE – Free Report) by 1.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,738 shares of the footwear maker’s stock after purchasing an additional 246 shares during the quarter. Gateway Investment Advisers LLC’s holdings in NIKE were worth $1,126,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Heck Capital Advisors LLC acquired a new position in shares of NIKE in the fourth quarter valued at about $28,000. Roxbury Financial LLC purchased a new position in shares of NIKE in the fourth quarter valued at approximately $30,000. LFA Lugano Financial Advisors SA lifted its position in shares of NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock valued at $30,000 after acquiring an additional 210 shares in the last quarter. Hopwood Financial Services Inc. purchased a new position in shares of NIKE in the fourth quarter valued at approximately $30,000. Finally, EnRich Financial Partners LLC lifted its position in shares of NIKE by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker’s stock valued at $31,000 after acquiring an additional 273 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at NIKE
In other NIKE news, Director Robert Holmes Swan bought 8,600 shares of NIKE stock in a transaction dated Friday, April 4th. The stock was purchased at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the purchase, the director now directly owns 31,983 shares of the company’s stock, valued at approximately $1,869,726.18. This trade represents a 36.78% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 1.10% of the stock is owned by insiders.
NIKE Stock Performance
NIKE (NYSE:NKE – Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.26. The firm had revenue of $11.27 billion during the quarter, compared to analysts’ expectations of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company’s revenue was down 9.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.98 EPS. As a group, equities research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.
NIKE Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE’s payout ratio is currently 53.16%.
Analysts Set New Price Targets
Several equities research analysts have issued reports on NKE shares. Bank of America cut their target price on NIKE from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Berenberg Bank initiated coverage on NIKE in a report on Tuesday, April 15th. They set a “hold” rating and a $58.00 price target on the stock. JPMorgan Chase & Co. lowered their price objective on NIKE from $64.00 to $56.00 and set a “neutral” rating for the company in a research report on Monday, May 5th. Dbs Bank raised NIKE from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Finally, The Goldman Sachs Group decreased their target price on NIKE from $88.00 to $72.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Seventeen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $80.26.
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.
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