NIKE, Inc. (NYSE:NKE) Holdings Lifted by Bruce G. Allen Investments LLC

Bruce G. Allen Investments LLC raised its position in NIKE, Inc. (NYSE:NKE) by 43.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 878 shares of the footwear maker’s stock after purchasing an additional 266 shares during the quarter. Bruce G. Allen Investments LLC’s holdings in NIKE were worth $56,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Wellington Management Group LLP raised 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 acquiring an additional 8,898,591 shares in the last quarter. Geode Capital Management LLC increased its stake in NIKE by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker’s stock valued at $1,915,110,000 after buying an additional 347,178 shares during the period. Capital World Investors raised its position in shares of 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 buying an additional 2,288,627 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of NIKE by 18.1% in the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock worth $1,541,246,000 after acquiring an additional 3,121,929 shares during the period. Finally, Norges Bank acquired a new stake in shares of NIKE in the 4th quarter worth approximately $1,126,288,000. Institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on NKE shares. Guggenheim reissued a “buy” rating and set a $110.00 target price on shares of NIKE in a report on Wednesday, February 12th. Jefferies Financial Group reissued a “buy” rating on shares of NIKE in a research note on Friday, May 23rd. Williams Trading lowered their target price on NIKE from $93.00 to $73.00 and set a “buy” rating on the stock in a report on Monday, April 21st. Royal Bank of Canada dropped their price target on shares of NIKE from $66.00 to $65.00 and set a “sector perform” rating on the stock in a research report on Tuesday, May 20th. Finally, BMO Capital Markets reduced 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. Seventeen 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 company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $80.26.

NIKE Price Performance

NKE opened at $62.82 on Monday. The stock has a market cap of $92.92 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 2.52 and a beta of 1.21. The stock has a fifty day moving average price of $58.86 and a 200 day moving average price of $69.15. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $98.04. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

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

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE’s dividend payout ratio is 53.16%.

Insiders Place Their Bets

In other NIKE news, Director Robert Holmes Swan acquired 8,600 shares of the company’s stock in a transaction dated Friday, April 4th. The shares were 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 of the company’s stock, valued at approximately $1,869,726.18. This trade represents a 36.78% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company 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.