Autumn Glory Partners LLC Boosts Position in NIKE, Inc. (NYSE:NKE)

Autumn Glory Partners LLC grew its holdings in shares of NIKE, Inc. (NYSE:NKE) by 2.0% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 22,625 shares of the footwear maker’s stock after acquiring an additional 451 shares during the quarter. Autumn Glory Partners LLC’s holdings in NIKE were worth $1,436,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Elgethun Capital Management grew its stake in NIKE by 13.7% in the fourth quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker’s stock worth $94,000 after purchasing an additional 149 shares during the period. AlTi Global Inc. grew its stake in NIKE by 0.4% in the fourth quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker’s stock worth $2,813,000 after purchasing an additional 150 shares during the period. Waterfront Wealth Inc. grew its stake in NIKE by 1.4% in the fourth quarter. Waterfront Wealth Inc. now owns 10,757 shares of the footwear maker’s stock worth $814,000 after purchasing an additional 153 shares during the period. Staley Capital Advisers Inc. grew its stake in NIKE by 4.4% in the fourth quarter. Staley Capital Advisers Inc. now owns 3,773 shares of the footwear maker’s stock worth $286,000 after purchasing an additional 160 shares during the period. Finally, Cohen & Steers Inc. grew its stake in NIKE by 5.3% in the fourth quarter. Cohen & Steers Inc. now owns 3,171 shares of the footwear maker’s stock worth $240,000 after purchasing an additional 160 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. UBS Group reduced their price target on NIKE from $73.00 to $66.00 and set a “neutral” rating on the stock in a research note on Friday, March 21st. BMO Capital Markets dropped their target price on NIKE from $95.00 to $92.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. China Renaissance began coverage on NIKE in a report on Wednesday, March 19th. They issued a “hold” rating on the stock. Citigroup dropped their target price on NIKE from $72.00 to $57.00 and set a “neutral” rating on the stock in a report on Monday, April 28th. Finally, Barclays dropped their target price on NIKE from $60.00 to $53.00 and set an “equal weight” rating on the stock in a report on Wednesday. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $79.15.

Insider Buying and Selling

In other news, Director Robert Holmes Swan acquired 8,600 shares of NIKE stock in a transaction on Friday, April 4th. The shares were 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 trade represents a 36.78% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.10% of the stock is owned by corporate insiders.

NIKE Stock Performance

NYSE NKE opened at $59.47 on Thursday. The stock has a market capitalization of $87.96 billion, a PE ratio of 19.76, a P/E/G ratio of 2.11 and a beta of 1.21. The business has a 50 day simple moving average of $59.57 and a two-hundred day simple moving average of $68.36. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.19 and a quick ratio of 1.52. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $98.04.

NIKE (NYSE:NKE) last posted its quarterly earnings data 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 business had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. NIKE had a return on equity of 32.18% and a net margin of 9.43%. The company’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same period last year, the company earned $0.98 EPS. On average, research analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE’s dividend payout ratio is currently 53.16%.

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.