NIKE, Inc. (NYSE:NKE) Stock Holdings Increased by Western Wealth Management LLC

Western Wealth Management LLC lifted its holdings in NIKE, Inc. (NYSE:NKE) by 17.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,076 shares of the footwear maker’s stock after purchasing an additional 1,907 shares during the quarter. Western Wealth Management LLC’s holdings in NIKE were worth $830,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of NKE. Wellington Management Group LLP increased its stake in NIKE by 32.4% during the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock valued at $2,749,903,000 after buying an additional 8,898,591 shares during the period. Geode Capital Management LLC increased its stake in shares of NIKE by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker’s stock valued at $1,915,110,000 after acquiring an additional 347,178 shares during the period. Capital World Investors raised its holdings in NIKE by 10.3% during the fourth 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 in the last quarter. Norges Bank acquired a new stake in NIKE in the fourth quarter worth approximately $1,126,288,000. Finally, Northern Trust Corp boosted its stake in NIKE by 8.8% during the 4th quarter. Northern Trust Corp now owns 14,690,435 shares of the footwear maker’s stock valued at $1,111,625,000 after purchasing an additional 1,183,641 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other NIKE news, Director Robert Holmes Swan bought 8,600 shares of the stock in a transaction on Friday, April 4th. The stock was purchased at an average price of $58.46 per share, with a total value of $502,756.00. Following the acquisition, the director now owns 31,983 shares of the company’s stock, valued at approximately $1,869,726.18. The trade was a 36.78% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.10% of the company’s stock.

NIKE Trading Up 15.3%

Shares of NKE opened at $72.09 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.52 and a current ratio of 2.19. The company has a market cap of $106.63 billion, a price-to-earnings ratio of 33.38, a PEG ratio of 2.29 and a beta of 1.21. The stock has a fifty day moving average price of $60.63 and a two-hundred day moving average price of $67.60. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $90.62.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.00%. The business had revenue of $11.10 billion for the quarter, compared to analysts’ expectations of $10.69 billion. During the same period in the prior year, the firm earned $0.99 earnings per share. NIKE’s revenue was down 11.9% compared to the same quarter last year. Analysts predict 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 will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be given a $0.40 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.22%. NIKE’s payout ratio is 53.16%.

Analysts Set New Price Targets

A number of research firms recently issued reports on NKE. Royal Bank Of Canada cut their target price on shares of NIKE from $66.00 to $65.00 and set a “sector perform” rating for the company in a research note on Tuesday, May 20th. Telsey Advisory Group reissued a “market perform” rating and set a $70.00 price objective on shares of NIKE in a research note on Friday. Deutsche Bank Aktiengesellschaft decreased their target price on NIKE from $77.00 to $71.00 and set a “buy” rating on the stock in a report on Friday, June 20th. JPMorgan Chase & Co. increased their price target on NIKE from $56.00 to $64.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Needham & Company LLC lifted their price target on NIKE from $66.00 to $78.00 and gave the stock a “buy” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, NIKE has an average rating of “Moderate Buy” and an average price target of $79.33.

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.