NIKE, Inc. (NYSE:NKE) Holdings Cut by Davis R M Inc.

Davis R M Inc. cut its stake in shares of NIKE, Inc. (NYSE:NKE) by 11.5% in the 3rd quarter, Holdings Channel reports. The firm owned 67,574 shares of the footwear maker’s stock after selling 8,811 shares during the quarter. Davis R M Inc.’s holdings in NIKE were worth $5,974,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Bank of Hawaii boosted its position in NIKE by 69.1% during the 3rd quarter. Bank of Hawaii now owns 8,876 shares of the footwear maker’s stock valued at $785,000 after purchasing an additional 3,626 shares during the period. Fisher Asset Management LLC lifted its stake in NIKE by 6.0% in the third quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock valued at $910,801,000 after buying an additional 583,207 shares during the last quarter. Hartford Funds Management Co LLC boosted its holdings in shares of NIKE by 20.7% during the third quarter. Hartford Funds Management Co LLC now owns 4,688 shares of the footwear maker’s stock valued at $414,000 after acquiring an additional 805 shares during the period. Pekin Hardy Strauss Inc. boosted its holdings in shares of NIKE by 2.1% during the third quarter. Pekin Hardy Strauss Inc. now owns 7,692 shares of the footwear maker’s stock valued at $680,000 after acquiring an additional 155 shares during the period. Finally, SevenBridge Financial Group LLC grew its position in shares of NIKE by 1.7% during the third quarter. SevenBridge Financial Group LLC now owns 19,398 shares of the footwear maker’s stock worth $1,715,000 after acquiring an additional 315 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

NIKE Stock Up 3.1 %

Shares of NIKE stock opened at $77.40 on Monday. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The firm has a market capitalization of $116.05 billion, a PE ratio of 22.18, a price-to-earnings-growth 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. The stock’s fifty day moving average is $80.51 and its 200-day moving average is $82.52.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter in the previous year, the company earned $0.94 EPS. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. Equities analysts anticipate that NIKE, Inc. will post 2.75 earnings per share 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 given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio is 42.41%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on shares of NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Needham & Company LLC began coverage on NIKE in a report on Friday. They set a “buy” rating and a $84.00 price target on the stock. UBS Group increased their price objective on NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Williams Trading raised NIKE from a “sell” rating to a “buy” rating and lifted their target price for the company from $67.00 to $93.00 in a research note on Friday, August 16th. Finally, JPMorgan Chase & Co. decreased their price target on NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a research note on Wednesday, October 2nd. Fourteen equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $95.86.

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.