2,120 Shares in NIKE, Inc. (NYSE:NKE) Purchased by Truvestments Capital LLC

Truvestments Capital LLC bought a new stake in shares of NIKE, Inc. (NYSE:NKE) in the 3rd quarter, Holdings Channel.com reports. The fund bought 2,120 shares of the footwear maker’s stock, valued at approximately $187,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NKE. VitalStone Financial LLC raised its position in shares of NIKE by 52.6% during the 3rd 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 holdings in shares of NIKE by 272.5% in the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after acquiring an additional 376 shares during the last quarter. Triad Wealth Partners LLC purchased a new stake in shares of NIKE in the second quarter valued at $44,000. MFA Wealth Advisors LLC acquired a new stake in shares of NIKE during the second quarter valued at $46,000. Finally, Lynx Investment Advisory purchased a new stake in NIKE during the 2nd quarter worth about $47,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Williams Trading upgraded shares of NIKE from a “sell” rating to a “buy” rating and upped their target price for the company from $67.00 to $93.00 in a report on Friday, August 16th. Barclays decreased their target price on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 2nd. Wells Fargo & Company boosted their price target on NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, September 20th. UBS Group increased their price target on NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Finally, Jefferies Financial Group lifted their price objective on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Monday, September 30th. Fourteen investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $95.86.

NIKE Price Performance

NKE stock opened at $79.26 on Tuesday. The stock’s 50 day moving average is $80.50 and its two-hundred day moving average is $82.42. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The company has a market capitalization of $118.84 billion, a PE ratio of 22.71, a P/E/G ratio of 1.88 and a beta of 1.03. 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 the consensus estimate of $0.52 by $0.18. The company had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period last year, the business earned $0.94 EPS. Analysts predict that NIKE, Inc. will post 2.75 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.60 annualized dividend and a yield of 2.02%. This is a boost from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio is presently 45.85%.

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.