NIKE, Inc. (NYSE:NKE) Shares Sold by Commerce Bank

Commerce Bank lessened its position in NIKE, Inc. (NYSE:NKE) by 1.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 126,863 shares of the footwear maker’s stock after selling 2,030 shares during the period. Commerce Bank’s holdings in NIKE were worth $11,215,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in NKE. Transcendent Capital Group LLC increased its holdings in NIKE by 97.6% during the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 200 shares in the last quarter. VitalStone Financial LLC increased its position in NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 150 shares during the last quarter. Bruce G. Allen Investments LLC raised its stake in NIKE by 272.5% during the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after purchasing an additional 376 shares during the period. Triad Wealth Partners LLC acquired a new position in shares of NIKE in the 2nd quarter valued at $44,000. Finally, MFA Wealth Advisors LLC purchased a new stake in shares of NIKE during the 2nd quarter valued at $46,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NKE. 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. Telsey Advisory Group cut their price objective on NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. Daiwa America downgraded shares of NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Jefferies Financial Group upped their price target on shares of NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Monday, September 30th. Finally, Stifel Nicolaus lowered their price target on NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a report on Monday, August 26th. Fourteen analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.30.

NIKE Stock Down 0.8 %

Shares of NKE stock opened at $73.33 on Thursday. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The firm has a market cap of $109.95 billion, a PE ratio of 21.01, a price-to-earnings-growth ratio of 1.86 and a beta of 1.03. The stock has a 50 day moving average of $80.61 and a 200-day moving average of $82.83.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating 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 firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same period in the prior year, the firm earned $0.94 EPS. The business’s revenue was down 10.4% on a year-over-year basis. On average, equities analysts predict that NIKE, Inc. will post 2.74 EPS for the current year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.18%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, December 2nd. NIKE’s payout ratio is currently 45.85%.

NIKE Company 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.