DAVENPORT & Co LLC Buys 17,489 Shares of NIKE, Inc. (NYSE:NKE)

DAVENPORT & Co LLC lifted its stake in NIKE, Inc. (NYSE:NKEFree Report) by 31.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 73,375 shares of the footwear maker’s stock after buying an additional 17,489 shares during the quarter. DAVENPORT & Co LLC’s holdings in NIKE were worth $7,968,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Impact Partnership Wealth LLC grew its holdings in shares of NIKE by 220.7% in the third quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock valued at $25,000 after purchasing an additional 181 shares in the last quarter. Iron Horse Wealth Management LLC lifted its position in NIKE by 120.7% during the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 140 shares during the last quarter. Planned Solutions Inc. purchased a new position in shares of NIKE in the 4th quarter worth $29,000. Financial Freedom LLC bought a new stake in shares of NIKE in the 4th quarter worth about $29,000. Finally, Worth Asset Management LLC purchased a new stake in shares of NIKE during the 1st quarter valued at about $32,000. Institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. TD Cowen reiterated a “market perform” rating and issued a $104.00 price target (down previously from $129.00) on shares of NIKE in a research report on Friday, December 22nd. Citigroup dropped their target price on NIKE from $135.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, March 14th. Stifel Nicolaus decreased their price target on NIKE from $129.00 to $117.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Oppenheimer lowered shares of NIKE from an “outperform” rating to a “market perform” rating and set a $110.00 price objective for the company. in a research note on Friday, February 16th. Finally, JPMorgan Chase & Co. cut their price objective on shares of NIKE from $139.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, December 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $116.52.

Read Our Latest Stock Analysis on NKE

NIKE Stock Performance

NKE stock opened at $90.33 on Thursday. NIKE, Inc. has a one year low of $88.66 and a one year high of $128.68. The firm has a market cap of $137.47 billion, a price-to-earnings ratio of 26.57, a PEG ratio of 1.70 and a beta of 1.08. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. The firm has a 50-day simple moving average of $100.64 and a two-hundred day simple moving average of $103.48.

NIKE (NYSE:NKEGet Free Report) last posted its earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The company had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $12.28 billion. On average, equities analysts forecast that NIKE, Inc. will post 3.71 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were given a $0.37 dividend. The ex-dividend date was Friday, March 1st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.64%. NIKE’s payout ratio is 43.53%.

NIKE Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for NIKE (NYSE:NKE)

Receive News & Ratings for NIKE Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NIKE and related companies with MarketBeat.com's FREE daily email newsletter.