AssuredPartners Investment Advisors LLC Has $385,000 Holdings in NIKE, Inc. (NYSE:NKE)

AssuredPartners Investment Advisors LLC lifted its stake in shares of NIKE, Inc. (NYSE:NKE) by 77.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,066 shares of the footwear maker’s stock after purchasing an additional 2,642 shares during the period. AssuredPartners Investment Advisors LLC’s holdings in NIKE were worth $385,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of NKE. Norges Bank bought a new position in NIKE in the 4th quarter valued at $1,126,288,000. Wellington Management Group LLP lifted its stake in shares of NIKE by 32.4% during the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock valued at $2,749,903,000 after acquiring an additional 8,898,591 shares during the period. Bank of New York Mellon Corp boosted its holdings in NIKE by 18.1% in the fourth quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock valued at $1,541,246,000 after acquiring an additional 3,121,929 shares during the last quarter. Renaissance Technologies LLC increased its position in NIKE by 1,302.7% in the fourth quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker’s stock worth $196,901,000 after purchasing an additional 2,416,601 shares during the period. Finally, Capital World Investors raised its holdings in NIKE by 10.3% during the 4th quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker’s stock worth $1,857,389,000 after purchasing an additional 2,288,627 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

NIKE Stock Up 1.1%

Shares of NIKE stock opened at $61.44 on Wednesday. The firm has a market cap of $90.88 billion, a PE ratio of 20.41, a P/E/G ratio of 2.16 and a beta of 1.21. The business’s 50 day simple moving average is $60.02 and its 200 day simple moving average is $67.78. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.52 and a current ratio of 2.19. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $97.64.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date is Monday, June 2nd. NIKE’s dividend payout ratio is presently 53.16%.

Wall Street Analyst Weigh In

NKE has been the topic of several recent research reports. JPMorgan Chase & Co. reduced their target price on shares of NIKE from $64.00 to $56.00 and set a “neutral” rating on the stock in a research note on Monday, May 5th. Morgan Stanley reduced their price objective on shares of NIKE from $70.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 17th. Telsey Advisory Group reiterated a “market perform” rating and set a $70.00 target price on shares of NIKE in a research report on Tuesday, June 17th. Wells Fargo & Company increased their price target on NIKE from $55.00 to $60.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 14th. Finally, Williams Trading decreased their price objective on NIKE from $93.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, April 21st. Sixteen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, NIKE currently has an average rating of “Moderate Buy” and a consensus target price of $77.59.

Insider Buying and Selling

In related news, Director Robert Holmes Swan bought 8,600 shares of the stock in a transaction that occurred on Friday, April 4th. The shares were acquired at an average price of $58.46 per share, with a total value of $502,756.00. Following the completion of the transaction, the director now owns 31,983 shares in the company, valued at $1,869,726.18. The trade was a 36.78% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

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.