NIKE, Inc. (NYSE:NKE) Stake Increased by Legacy Trust

Legacy Trust grew its holdings in NIKE, Inc. (NYSE:NKE) by 6.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,470 shares of the footwear maker’s stock after purchasing an additional 2,189 shares during the period. Legacy Trust’s holdings in NIKE were worth $2,252,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Brighton Jones LLC raised its holdings in shares of NIKE by 388.5% during the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after acquiring an additional 160,980 shares in the last quarter. Essex Financial Services Inc. raised its holdings in shares of NIKE by 43.0% during the fourth quarter. Essex Financial Services Inc. now owns 6,397 shares of the footwear maker’s stock worth $484,000 after acquiring an additional 1,925 shares in the last quarter. Kentucky Trust Co purchased a new stake in shares of NIKE during the fourth quarter worth $72,000. Avidian Wealth Enterprises LLC raised its holdings in shares of NIKE by 40.5% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 10,537 shares of the footwear maker’s stock worth $797,000 after acquiring an additional 3,036 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of NIKE by 26.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 410,249 shares of the footwear maker’s stock worth $30,262,000 after acquiring an additional 86,256 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on NKE. Williams Trading cut their price objective on NIKE from $93.00 to $73.00 and set a “buy” rating for the company in a report on Monday, April 21st. Royal Bank of Canada cut their price objective on NIKE from $66.00 to $65.00 and set a “sector perform” rating on the stock in a research note on Tuesday, May 20th. Wells Fargo & Company boosted their target price on NIKE from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 14th. Jefferies Financial Group reiterated a “buy” rating on shares of NIKE in a report on Friday, May 23rd. Finally, Berenberg Bank assumed coverage on NIKE in a report on Tuesday, April 15th. They set a “hold” rating and a $58.00 price target on the stock. Seventeen analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and an average price target of $80.26.

Insiders Place Their Bets

In other NIKE news, Director Robert Holmes Swan purchased 8,600 shares of the firm’s stock in a transaction on Friday, April 4th. The shares were purchased at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the purchase, the director now directly owns 31,983 shares of the company’s stock, valued at approximately $1,869,726.18. This represents a 36.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

NIKE Stock Down 0.5%

NKE opened at $62.81 on Friday. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $98.04. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The firm’s fifty day moving average price is $59.23 and its two-hundred day moving average price is $68.85. The company has a market capitalization of $92.90 billion, a P/E ratio of 19.39, a P/E/G ratio of 2.52 and a beta of 1.21.

NIKE (NYSE:NKE) last posted 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. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. During the same quarter in the previous year, the company earned $0.98 earnings per share. The business’s revenue was down 9.1% compared to the same quarter last year. On average, analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

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

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.