Cambridge Investment Research Advisors Inc. lifted its stake in Nike Inc (NYSE:NKE) by 15.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 86,467 shares of the footwear maker’s stock after buying an additional 11,523 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Nike were worth $7,281,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NKE. Vanguard Group Inc increased its holdings in shares of Nike by 1.2% during the third quarter. Vanguard Group Inc now owns 102,670,288 shares of the footwear maker’s stock worth $8,698,227,000 after buying an additional 1,207,986 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Nike by 4.3% during the fourth quarter. BlackRock Inc. now owns 86,268,224 shares of the footwear maker’s stock worth $6,395,928,000 after buying an additional 3,592,186 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Nike by 6,517.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 35,283,152 shares of the footwear maker’s stock valued at $476,000 after purchasing an additional 34,749,961 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Nike by 2.4% in the fourth quarter. Northern Trust Corp now owns 20,985,790 shares of the footwear maker’s stock valued at $1,555,886,000 after purchasing an additional 491,974 shares in the last quarter. Finally, FMR LLC increased its holdings in shares of Nike by 10.2% in the fourth quarter. FMR LLC now owns 18,168,787 shares of the footwear maker’s stock valued at $1,347,034,000 after purchasing an additional 1,689,091 shares in the last quarter. Institutional investors and hedge funds own 65.60% of the company’s stock.
Shares of NKE traded up $1.46 during trading hours on Monday, hitting $85.41. 5,876,779 shares of the stock were exchanged, compared to its average volume of 6,675,913. Nike Inc has a fifty-two week low of $66.53 and a fifty-two week high of $90.00. The company has a market capitalization of $135.17 billion, a price-to-earnings ratio of 34.30, a P/E/G ratio of 2.21 and a beta of 0.78. The business’s 50-day simple moving average is $82.87. The company has a quick ratio of 1.39, a current ratio of 2.10 and a debt-to-equity ratio of 0.38.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, May 31st. Nike’s payout ratio is currently 35.34%.
In related news, insider Eric D. Sprunk sold 40,004 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $87.82, for a total transaction of $3,513,151.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.90% of the stock is owned by company insiders.
A number of research firms have commented on NKE. Bank of America lifted their target price on shares of Nike from $55.00 to $60.00 and gave the stock an “underperform” rating in a report on Tuesday, March 19th. Credit Suisse Group reissued a “buy” rating and set a $97.00 price target on shares of Nike in a research report on Friday, March 22nd. JPMorgan Chase & Co. lifted their price target on shares of Nike from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Goldman Sachs Group set a $85.00 price target on shares of Nike and gave the stock a “neutral” rating in a research report on Tuesday, March 19th. Finally, Canaccord Genuity set a $96.00 price objective on shares of Nike and gave the company a “buy” rating in a research report on Monday, March 18th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. Nike presently has a consensus rating of “Buy” and a consensus target price of $89.55.
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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