Spire Wealth Management Buys 416 Shares of NIKE, Inc. (NYSE:NKE)

Spire Wealth Management raised its stake in shares of NIKE, Inc. (NYSE:NKE) by 4.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,872 shares of the footwear maker’s stock after buying an additional 416 shares during the quarter. Spire Wealth Management’s holdings in NIKE were worth $627,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Heck Capital Advisors LLC purchased a new stake in NIKE in the 4th quarter worth 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 worth $30,000 after purchasing an additional 210 shares during the period. Hopwood Financial Services Inc. purchased a new stake in shares of NIKE in the fourth quarter worth $30,000. EnRich Financial Partners LLC boosted its stake in NIKE by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker’s stock valued at $31,000 after buying an additional 273 shares during the period. Finally, Roxbury Financial LLC boosted its stake in NIKE by 52.1% during the first quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker’s stock valued at $37,000 after buying an additional 201 shares during the period. 64.25% of the stock is currently owned by institutional investors.

NIKE Trading Up 15.3%

NYSE:NKE opened at $72.09 on Friday. The firm has a market capitalization of $106.63 billion, a P/E ratio of 33.38, a P/E/G ratio of 2.64 and a beta of 1.21. The company has a quick ratio of 1.52, a current ratio of 2.19 and a debt-to-equity ratio of 0.57. The company has a fifty day moving average of $60.63 and a 200 day moving average of $67.52. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $90.62.

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

NIKE Dividend Announcement

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

Insiders Place Their Bets

In related news, Director Robert Holmes Swan bought 8,600 shares of the company’s stock in a transaction dated Friday, April 4th. The stock was purchased at an average cost of $58.46 per share, with a total value of $502,756.00. Following the transaction, the director now owns 31,983 shares in the company, valued at approximately $1,869,726.18. This trade represents a 36.78% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NKE. Jefferies Financial Group reaffirmed a “buy” rating on shares of NIKE in a report on Friday, May 23rd. HSBC upgraded shares of NIKE from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a research report on Friday. Dbs Bank upgraded shares of NIKE from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Needham & Company LLC increased their price target on shares of NIKE from $66.00 to $78.00 and gave the stock a “buy” rating in a report on Friday. Finally, Citigroup raised their price objective on shares of NIKE from $57.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $77.00.

About NIKE

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.