&Partners Invests $712,000 in NIKE, Inc. (NYSE:NKE)

&Partners acquired a new position in NIKE, Inc. (NYSE:NKE) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 7,447 shares of the footwear maker’s stock, valued at approximately $712,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cim LLC purchased a new position in shares of NIKE in the 4th quarter worth approximately $14,275,000. TKG Advisors LLC purchased a new position in shares of NIKE in the 4th quarter worth approximately $1,012,000. Louisiana State Employees Retirement System purchased a new position in shares of NIKE in the 4th quarter worth approximately $8,034,000. Financial Gravity Asset Management Inc. grew its position in shares of NIKE by 2,332.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 184,042 shares of the footwear maker’s stock worth $17,598,000 after buying an additional 176,476 shares during the last quarter. Finally, Brown Advisory Inc. grew its position in NIKE by 4.3% during the 4th quarter. Brown Advisory Inc. now owns 4,668,949 shares of the footwear maker’s stock worth $506,908,000 after purchasing an additional 192,752 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insiders Place Their Bets

In other news, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the sale, the vice president now owns 730 shares of the company’s stock, valued at $68,357.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the sale, the vice president now owns 730 shares of the company’s stock, valued at $68,357.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Monique S. Matheson sold 45,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the sale, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 213,660 shares of company stock worth $19,946,333. Company insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NKE. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $115.00 target price on shares of NIKE in a research report on Thursday, June 13th. Stifel Nicolaus dropped their target price on shares of NIKE from $129.00 to $117.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Citigroup dropped their target price on shares of NIKE from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, March 14th. Robert W. Baird dropped their target price on shares of NIKE from $140.00 to $125.00 and set an “outperform” rating on the stock in a research report on Friday, March 22nd. Finally, Wells Fargo & Company dropped their target price on shares of NIKE from $120.00 to $115.00 and set an “overweight” rating on the stock in a research report on Monday, June 10th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $114.81.

NIKE Stock Performance

NYSE:NKE opened at $97.18 on Monday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. The company has a fifty day moving average of $93.60 and a two-hundred day moving average of $99.79. The stock has a market capitalization of $146.68 billion, a PE ratio of 28.58, a P/E/G ratio of 1.80 and a beta of 1.05. NIKE, Inc. has a fifty-two week low of $88.66 and a fifty-two week high of $123.39.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.29. The company had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. As a group, research analysts forecast that NIKE, Inc. will post 3.76 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date is Monday, June 3rd. NIKE’s dividend payout ratio is presently 43.53%.

NIKE Company 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.