Brighton Jones LLC Increases Stock Position in NIKE, Inc. (NYSE:NKE)

Brighton Jones LLC lifted its holdings in NIKE, Inc. (NYSE:NKE) by 6.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 202,691 shares of the footwear maker’s stock after purchasing an additional 12,116 shares during the period. NIKE comprises 0.7% of Brighton Jones LLC’s holdings, making the stock its 21st biggest position. Brighton Jones LLC’s holdings in NIKE were worth $19,049,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Annapolis Financial Services LLC lifted its position in NIKE by 440.0% during the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 220 shares during the last quarter. Iron Horse Wealth Management LLC raised its holdings in shares of NIKE by 120.7% in the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after buying an additional 140 shares during the last quarter. Planned Solutions Inc. purchased a new position in shares of NIKE in the fourth quarter worth $29,000. True Wealth Design LLC raised its holdings in shares of NIKE by 106.4% in the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after buying an additional 150 shares during the last quarter. Finally, Frank Rimerman Advisors LLC purchased a new position in shares of NIKE in the fourth quarter worth $33,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Trading Up 0.4 %

NYSE:NKE traded up $0.32 during trading hours on Friday, reaching $72.70. 10,946,732 shares of the stock were exchanged, compared to its average volume of 11,358,027. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The business has a 50-day moving average of $87.82 and a two-hundred day moving average of $95.08. NIKE, Inc. has a twelve month low of $71.24 and a twelve month high of $123.39. The company has a market capitalization of $109.73 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 1.90 and a beta of 1.01.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.16. The business had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period last year, the firm earned $0.66 earnings per share. On average, equities analysts predict that NIKE, Inc. will post 3.12 EPS for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend was Monday, June 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insider Activity at NIKE

In related news, EVP Monique S. Matheson sold 45,000 shares of the 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 transaction, the executive vice president now owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other NIKE news, EVP Monique S. Matheson sold 45,000 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert Holmes Swan acquired 2,941 shares of the company’s stock in a transaction on Friday, June 28th. The shares were purchased at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the acquisition, the director now owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. Insiders have sold 213,660 shares of company stock valued at $19,946,333 over the last quarter. 0.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on NKE shares. Wells Fargo & Company cut their price objective on shares of NIKE from $115.00 to $92.00 and set an “overweight” rating on the stock in a research note on Friday, June 28th. TD Cowen cut their price objective on shares of NIKE from $89.00 to $75.00 and set a “hold” rating on the stock in a research note on Friday, June 28th. HSBC cut their price objective on shares of NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, June 28th. StockNews.com lowered shares of NIKE from a “buy” rating to a “hold” rating in a research note on Friday, June 21st. Finally, Sanford C. Bernstein cut their price objective on shares of NIKE from $134.00 to $120.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $96.44.

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.