Strategic Investment Advisors MI Boosts Stock Holdings in NIKE, Inc. (NYSE:NKE)

Strategic Investment Advisors MI boosted its stake in shares of NIKE, Inc. (NYSE:NKE) by 17.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,741 shares of the footwear maker’s stock after purchasing an additional 550 shares during the period. Strategic Investment Advisors MI’s holdings in NIKE were worth $237,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of NKE. Norges Bank purchased a new position in NIKE during the fourth quarter worth approximately $1,126,288,000. Wellington Management Group LLP raised its stake in shares of NIKE by 32.4% in 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 during the period. Renaissance Technologies LLC raised its stake in shares of NIKE by 1,302.7% in the 4th quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker’s stock valued at $196,901,000 after acquiring an additional 2,416,601 shares during the period. Capital World Investors raised its stake in shares of NIKE by 10.3% in the 4th quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker’s stock valued at $1,857,389,000 after acquiring an additional 2,288,627 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of NIKE in the 4th quarter valued at $156,438,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on NKE shares. BMO Capital Markets cut their target price on shares of NIKE from $95.00 to $92.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. Telsey Advisory Group reissued a “market perform” rating and issued a $70.00 target price on shares of NIKE in a research note on Tuesday, June 17th. Williams Trading cut their target price on shares of NIKE from $93.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday, April 21st. UBS Group cut their target price on shares of NIKE from $73.00 to $66.00 and set a “neutral” rating on the stock in a research note on Friday, March 21st. Finally, Barclays lowered their price target on shares of NIKE from $60.00 to $53.00 and set an “equal weight” rating for the company in a report on Wednesday, June 18th. Sixteen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $77.59.

NIKE Price Performance

NKE stock opened at $60.84 on Thursday. The company has a 50 day simple moving average of $60.17 and a 200 day simple moving average of $67.73. The stock has a market cap of $89.99 billion, a price-to-earnings ratio of 20.21, a P/E/G ratio of 2.21 and a beta of 1.21. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $94.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.19 and a quick ratio of 1.52.

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 given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.63%. The ex-dividend date is Monday, June 2nd. NIKE’s dividend payout ratio (DPR) is currently 53.16%.

Insider Buying and Selling at NIKE

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 stock was purchased at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the acquisition, the director now owns 31,983 shares in the company, valued at approximately $1,869,726.18. The trade was a 36.78% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate 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.