NIKE, Inc. (NYSE:NKE) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC lifted its stake in NIKE, Inc. (NYSE:NKE) by 39.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,877 shares of the footwear maker’s stock after purchasing an additional 5,863 shares during the quarter. GAMMA Investing LLC’s holdings in NIKE were worth $1,325,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Heck Capital Advisors LLC acquired a new stake in shares of NIKE in the fourth quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA increased its holdings in shares of NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock valued at $30,000 after purchasing an additional 210 shares during the last quarter. Hopwood Financial Services Inc. purchased a new position in NIKE in the fourth quarter worth approximately $30,000. EnRich Financial Partners LLC grew its position in NIKE by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker’s stock worth $31,000 after acquiring an additional 273 shares during the period. Finally, Roxbury Financial LLC grew its position in NIKE by 52.1% in the first quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker’s stock worth $37,000 after acquiring an additional 201 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Activity

In other NIKE news, Director Robert Holmes Swan purchased 8,600 shares of the business’s stock in a transaction on Friday, April 4th. The shares were bought at an average cost 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 in the company, 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 legal filing with the SEC, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

NIKE Stock Up 15.3%

Shares of NYSE NKE opened at $72.09 on Friday. The stock has a market cap of $106.63 billion, a P/E ratio of 33.38, a PEG ratio of 2.64 and a beta of 1.21. The company has a current ratio of 2.19, a quick ratio of 1.52 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $90.62. The business’s fifty day simple moving average is $60.63 and its 200-day simple moving average is $67.52.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. The business had revenue of $11.10 billion for the quarter, compared to analysts’ expectations of $10.69 billion. NIKE had a return on equity of 23.00% and a net margin of 6.95%. The company’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same period last year, the firm earned $0.99 earnings per share. As a group, equities analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE’s payout ratio is currently 53.16%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NKE. Evercore ISI lowered their price objective on NIKE from $97.00 to $75.00 and set an “outperform” rating for the company in a research report on Tuesday, June 24th. Stifel Nicolaus lowered their price objective on NIKE from $75.00 to $64.00 and set a “hold” rating for the company in a research report on Thursday, April 10th. China Renaissance began coverage on NIKE in a research report on Wednesday, March 19th. They issued a “hold” rating for the company. Jefferies Financial Group reiterated a “buy” rating on shares of NIKE in a research report on Friday, May 23rd. Finally, Wells Fargo & Company increased their price objective on NIKE from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and an average target price of $77.00.

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.