NIKE, Inc. (NYSE:NKE) Stake Boosted by Saybrook Capital NC

Saybrook Capital NC raised its holdings in shares of NIKE, Inc. (NYSE:NKE) by 10.5% during the first quarter, HoldingsChannel.com reports. The firm owned 196,667 shares of the footwear maker’s stock after buying an additional 18,645 shares during the period. NIKE accounts for 3.4% of Saybrook Capital NC’s portfolio, making the stock its 9th biggest position. Saybrook Capital NC’s holdings in NIKE were worth $12,484,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NKE. Elgethun Capital Management lifted its holdings in NIKE by 13.7% in the fourth quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker’s stock valued at $94,000 after acquiring an additional 149 shares during the period. AlTi Global Inc. lifted its stake in shares of NIKE by 0.4% in the 4th quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker’s stock valued at $2,813,000 after purchasing an additional 150 shares during the period. Staley Capital Advisers Inc. lifted its stake in shares of NIKE by 4.4% in the 4th quarter. Staley Capital Advisers Inc. now owns 3,773 shares of the footwear maker’s stock valued at $286,000 after purchasing an additional 160 shares during the period. Cohen & Steers Inc. lifted its stake in shares of NIKE by 5.3% in the 4th quarter. Cohen & Steers Inc. now owns 3,171 shares of the footwear maker’s stock valued at $240,000 after purchasing an additional 160 shares during the period. Finally, Nwam LLC raised its position in shares of NIKE by 2.9% in the fourth quarter. Nwam LLC now owns 6,318 shares of the footwear maker’s stock worth $478,000 after acquiring an additional 176 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. BMO Capital Markets decreased their price objective on shares of NIKE from $95.00 to $92.00 and set an “outperform” rating for the company in a research report on Friday, March 21st. Berenberg Bank started coverage on NIKE in a research note on Tuesday, April 15th. They set a “hold” rating and a $58.00 target price for the company. Bank of America reduced 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. The Goldman Sachs Group reduced their target price on NIKE from $88.00 to $72.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Finally, Royal Bank Of Canada reduced their price objective on shares of NIKE from $66.00 to $65.00 and set a “sector perform” rating for the company in a research report on Tuesday, May 20th. Sixteen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $77.59.

Insider Activity

In other NIKE news, Director Robert Holmes Swan bought 8,600 shares of the company’s stock in a transaction that occurred on Friday, April 4th. The stock was purchased 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 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.10% of the company’s stock.

NIKE Price Performance

NKE stock opened at $61.44 on Wednesday. The company has a market cap of $90.88 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 2.16 and a beta of 1.21. The company has a current ratio of 2.19, a quick ratio of 1.52 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $97.64. The firm has a 50 day moving average of $60.02 and a 200-day moving average of $67.78.

NIKE Announces Dividend

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

About NIKE

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.