First Trust Direct Indexing L.P. Acquires 257 Shares of NIKE, Inc. (NYSE:NKE)

First Trust Direct Indexing L.P. grew its stake in shares of NIKE, Inc. (NYSE:NKE) by 0.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,202 shares of the footwear maker’s stock after buying an additional 257 shares during the period. First Trust Direct Indexing L.P.’s holdings in NIKE were worth $2,744,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Transactions at NIKE

In other news, Director Robert Holmes Swan acquired 2,941 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was purchased at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the acquisition, the director now directly owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other NIKE news, Director Robert Holmes Swan acquired 2,941 shares of NIKE stock in a transaction that occurred on Friday, June 28th. The stock was bought at an average price of $77.02 per share, with a total value of $226,515.82. Following the completion of the purchase, the director now directly owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 value of $4,237,200.00. Following the sale, the executive vice president now 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. In the last 90 days, insiders have sold 213,660 shares of company stock valued at $19,946,333. 0.50% of the stock is currently owned by corporate insiders.

NIKE Trading Down 1.1 %

NKE stock traded down $0.80 during trading on Thursday, hitting $75.24. The company had a trading volume of 15,952,008 shares, compared to its average volume of 17,969,314. NIKE, Inc. has a 52-week low of $74.29 and a 52-week high of $123.39. The company has a 50 day simple moving average of $92.19 and a 200-day simple moving average of $98.06. The firm has a market capitalization of $113.56 billion, a P/E ratio of 20.17, a PEG ratio of 1.85 and a beta of 1.01. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same quarter in the previous year, the business earned $0.66 earnings per share. NIKE’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, research analysts forecast that NIKE, Inc. will post 3.32 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date was Monday, June 3rd. NIKE’s payout ratio is 39.68%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on NKE shares. Morgan Stanley reaffirmed an “equal weight” rating and issued a $79.00 price objective (down previously from $114.00) on shares of NIKE in a research note on Friday, June 28th. Telsey Advisory Group reduced their price target on shares of NIKE from $115.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Williams Trading reiterated a “sell” rating and set a $85.00 price objective (down previously from $92.00) on shares of NIKE in a research report on Monday, March 18th. UBS Group restated a “neutral” rating and issued a $78.00 target price on shares of NIKE in a report on Friday, June 28th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $83.00 target price (down from $116.00) on shares of NIKE in a research report on Friday, June 28th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $97.19.

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.