Sanders Morris Harris LLC Has $343,000 Stake in NIKE, Inc. (NYSE:NKE)

Sanders Morris Harris LLC raised its position in NIKE, Inc. (NYSE:NKE) by 23.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,330 shares of the footwear maker’s stock after purchasing an additional 1,000 shares during the quarter. Sanders Morris Harris LLC’s holdings in NIKE were worth $343,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Rooted Wealth Advisors Inc. raised its stake in shares of NIKE by 24.8% in the 1st quarter. Rooted Wealth Advisors Inc. now owns 3,675 shares of the footwear maker’s stock valued at $233,000 after purchasing an additional 731 shares during the period. Pacifica Partners Inc. raised its stake in shares of NIKE by 77.2% in the 1st quarter. Pacifica Partners Inc. now owns 28,725 shares of the footwear maker’s stock valued at $1,823,000 after purchasing an additional 12,518 shares during the period. Somerset Trust Co raised its stake in shares of NIKE by 10.0% in the 1st quarter. Somerset Trust Co now owns 23,625 shares of the footwear maker’s stock valued at $1,500,000 after purchasing an additional 2,151 shares during the period. Doliver Advisors LP increased its position in shares of NIKE by 57.9% in the first quarter. Doliver Advisors LP now owns 5,252 shares of the footwear maker’s stock valued at $333,000 after acquiring an additional 1,925 shares during the last quarter. Finally, Rothschild Investment LLC increased its position in shares of NIKE by 352.2% in the first quarter. Rothschild Investment LLC now owns 59,633 shares of the footwear maker’s stock valued at $3,786,000 after acquiring an additional 46,446 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Trading Down 1.5%

Shares of NYSE:NKE opened at $60.52 on Friday. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $98.04. The stock has a market cap of $89.52 billion, a PE ratio of 18.68, a P/E/G ratio of 2.52 and a beta of 1.23. The business has a 50 day moving average of $59.08 and a 200-day moving average of $69.63. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57.

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

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE’s dividend payout ratio is presently 53.16%.

Analyst Upgrades and Downgrades

NKE has been the topic of a number of recent research reports. Stifel Nicolaus lowered their target price on NIKE from $75.00 to $64.00 and set a “hold” rating on the stock in a research report on Thursday, April 10th. Berenberg Bank initiated coverage on NIKE in a research report on Tuesday, April 15th. They issued a “hold” rating and a $58.00 target price on the stock. Robert W. Baird lowered their target price on NIKE from $105.00 to $99.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. UBS Group lowered their target price on NIKE from $73.00 to $66.00 and set a “neutral” rating on the stock in a research report on Friday, March 21st. Finally, BMO Capital Markets lowered their target price on NIKE from $95.00 to $92.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. Seventeen investment 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. According to data from MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.26.

Insider Transactions at NIKE

In related news, Director Robert Holmes Swan purchased 8,600 shares of the business’s stock in a transaction that occurred on Friday, April 4th. The stock was acquired at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the purchase, the director now owns 31,983 shares in the company, valued at approximately $1,869,726.18. This represents a 36.78% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.10% of the company’s stock.

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.