Bowie Capital Management LLC Has $35.92 Million Stock Position in NIKE, Inc. (NYSE:NKE)

Bowie Capital Management LLC lifted its position in shares of NIKE, Inc. (NYSE:NKE) by 13.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 406,342 shares of the footwear maker’s stock after purchasing an additional 48,733 shares during the quarter. NIKE makes up about 1.9% of Bowie Capital Management LLC’s investment portfolio, making the stock its 21st largest position. Bowie Capital Management LLC’s holdings in NIKE were worth $35,921,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Advisors Asset Management Inc. boosted its holdings in NIKE by 86.0% during the first quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock valued at $1,970,000 after purchasing an additional 9,689 shares in the last quarter. Epoch Investment Partners Inc. lifted its position in NIKE by 1.6% during the 1st quarter. Epoch Investment Partners Inc. now owns 14,326 shares of the footwear maker’s stock worth $1,346,000 after buying an additional 227 shares in the last quarter. Waverly Advisors LLC grew its holdings in NIKE by 33.2% during the 1st quarter. Waverly Advisors LLC now owns 11,758 shares of the footwear maker’s stock worth $1,105,000 after acquiring an additional 2,931 shares during the last quarter. Bayesian Capital Management LP bought a new stake in shares of NIKE during the first quarter valued at approximately $1,825,000. Finally, Kennedy Capital Management LLC acquired a new stake in shares of NIKE in the first quarter valued at approximately $5,454,000. 64.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NKE has been the subject of several research reports. Sanford C. Bernstein lowered their target price on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research note on Thursday, September 19th. Daiwa America lowered shares of NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. TD Cowen cut their price objective on shares of NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, November 18th. Williams Trading raised shares of NIKE from a “sell” rating to a “buy” rating and lifted their target price for the stock from $67.00 to $93.00 in a report on Friday, August 16th. Finally, UBS Group raised their price target on NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $95.86.

NIKE Stock Up 1.4 %

NYSE NKE traded up $1.07 during trading on Monday, hitting $78.47. The stock had a trading volume of 4,450,011 shares, compared to its average volume of 11,478,125. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The company’s 50-day moving average price is $80.51 and its two-hundred day moving average price is $82.52. The company has a market capitalization of $117.65 billion, a PE ratio of 22.18, a P/E/G ratio of 1.88 and a beta of 1.03.

NIKE (NYSE:NKE) last released its 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 business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter last year, the firm earned $0.94 earnings per share. The firm’s revenue for the quarter was down 10.4% compared to the same quarter last year. As a group, sell-side analysts forecast that NIKE, Inc. will post 2.75 EPS for the current year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio is presently 42.41%.

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.