Coston McIsaac & Partners Grows Stock Holdings in NIKE, Inc. (NYSE:NKE)

Coston McIsaac & Partners raised its position in shares of NIKE, Inc. (NYSE:NKE) by 1,218.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,698 shares of the footwear maker’s stock after purchasing an additional 55,170 shares during the period. NIKE makes up approximately 1.5% of Coston McIsaac & Partners’ holdings, making the stock its 27th largest holding. Coston McIsaac & Partners’ holdings in NIKE were worth $5,277,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Longview Partners Guernsey LTD bought a new position in shares of NIKE during the first quarter valued at about $533,533,000. Capital World Investors grew its stake in shares of NIKE by 612.2% during the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after buying an additional 4,457,376 shares during the last quarter. Jennison Associates LLC grew its stake in shares of NIKE by 45.6% during the first quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock valued at $832,623,000 after buying an additional 2,775,510 shares during the last quarter. PineStone Asset Management Inc. grew its stake in shares of NIKE by 138.3% during the second quarter. PineStone Asset Management Inc. now owns 2,715,689 shares of the footwear maker’s stock valued at $204,681,000 after buying an additional 1,576,049 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of NIKE by 351.7% during the second quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock valued at $150,101,000 after buying an additional 1,550,611 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on NKE shares. Evercore ISI reduced their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. Bank of America reduced their price objective on NIKE from $104.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. HSBC cut their target price on NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, June 28th. Morgan Stanley raised their target price on NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Finally, UBS Group raised their target price on NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Fourteen research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, NIKE has an average rating of “Moderate Buy” and an average target price of $96.56.

NIKE Stock Down 1.1 %

Shares of NKE stock traded down $0.90 during trading hours on Wednesday, hitting $80.52. 1,821,305 shares of the company’s stock traded hands, compared to its average volume of 11,612,059. The stock’s fifty day simple moving average is $82.83 and its two-hundred day simple moving average is $85.14. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The stock has a market cap of $121.53 billion, a price-to-earnings ratio of 21.83, a PEG ratio of 1.96 and a beta of 1.02. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. During the same period in the previous year, the business earned $0.94 EPS. The firm’s revenue for the quarter was down 10.4% on a year-over-year basis. On average, analysts expect that NIKE, Inc. will post 2.8 EPS for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were issued a $0.37 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.84%. NIKE’s payout ratio is currently 39.68%.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.50% of the stock is owned by company insiders.

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.