LGT Fund Management Co Ltd. Acquires 6,200 Shares of NIKE, Inc. (NYSE:NKE)

LGT Fund Management Co Ltd. grew its holdings in NIKE, Inc. (NYSE:NKE) by 38.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 22,250 shares of the footwear maker’s stock after buying an additional 6,200 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in NIKE were worth $2,421,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of NKE. Oliver Luxxe Assets LLC increased its holdings in NIKE by 2.9% during the 3rd quarter. Oliver Luxxe Assets LLC now owns 37,510 shares of the footwear maker’s stock worth $3,587,000 after acquiring an additional 1,041 shares during the period. Louisiana State Employees Retirement System bought a new stake in NIKE during the 4th quarter worth approximately $8,034,000. Financial Gravity Asset Management Inc. increased its holdings in NIKE by 2,332.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 184,042 shares of the footwear maker’s stock worth $17,598,000 after acquiring an additional 176,476 shares during the period. International Assets Investment Management LLC increased its holdings in NIKE by 10,184.3% during the 4th quarter. International Assets Investment Management LLC now owns 388,131 shares of the footwear maker’s stock worth $42,139,000 after acquiring an additional 384,357 shares during the period. Finally, Franklin Street Advisors Inc. NC increased its holdings in NIKE by 55.6% during the 4th quarter. Franklin Street Advisors Inc. NC now owns 194,164 shares of the footwear maker’s stock worth $21,080,000 after acquiring an additional 69,363 shares during the period. Institutional investors own 64.25% of the company’s stock.

NIKE Trading Up 1.4 %

NKE traded up $1.27 during trading on Thursday, hitting $91.61. 2,293,182 shares of the stock traded hands, compared to its average volume of 9,259,597. The firm has a market capitalization of $138.27 billion, a P/E ratio of 26.91, a price-to-earnings-growth ratio of 1.78 and a beta of 1.07. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. The firm has a 50-day moving average of $96.25 and a 200 day moving average of $103.19. NIKE, Inc. has a 12-month low of $88.66 and a 12-month high of $128.38.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, topping the consensus estimate of $0.69 by $0.29. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The business had revenue of $12.43 billion during the quarter, compared to analyst estimates of $12.28 billion. Equities research analysts anticipate that NIKE, Inc. will post 3.73 EPS for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were issued a $0.37 dividend. The ex-dividend date was Friday, March 1st. This represents a $1.48 annualized dividend and a yield of 1.62%. NIKE’s dividend payout ratio (DPR) is presently 43.53%.

Analyst Ratings Changes

A number of research firms recently weighed in on NKE. Stifel Nicolaus decreased their target price on shares of NIKE from $129.00 to $117.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Evercore ISI cut their price target on shares of NIKE from $127.00 to $117.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. UBS Group cut their price target on shares of NIKE from $138.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Wedbush reissued an “outperform” rating and issued a $115.00 price target on shares of NIKE in a research note on Tuesday. Finally, HSBC cut their price target on shares of NIKE from $120.00 to $115.00 and set a “hold” rating for the company in a research note on Monday, January 22nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and an average target price of $116.26.

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.