GM Advisory Group LLC Has $1.06 Million Position in NIKE, Inc. (NYSE:NKE)

GM Advisory Group LLC boosted its position in shares of NIKE, Inc. (NYSE:NKE) by 39.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,023 shares of the footwear maker’s stock after acquiring an additional 3,385 shares during the period. GM Advisory Group LLC’s holdings in NIKE were worth $1,063,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Legal & General Group Plc raised its holdings in shares of NIKE by 5.5% in the 2nd quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock worth $832,785,000 after buying an additional 571,544 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of NIKE by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,602,534 shares of the footwear maker’s stock valued at $760,716,000 after purchasing an additional 117,187 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of NIKE by 19.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,209,868 shares of the footwear maker’s stock worth $637,352,000 after acquiring an additional 1,184,252 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of NIKE by 15.1% in the 3rd quarter. Van ECK Associates Corp now owns 4,885,672 shares of the footwear maker’s stock valued at $431,893,000 after purchasing an additional 641,398 shares during the last quarter. Finally, GUARDCAP ASSET MANAGEMENT Ltd grew its holdings in NIKE by 1.1% during the 1st quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 4,765,315 shares of the footwear maker’s stock worth $447,844,000 after acquiring an additional 50,821 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NIKE stock opened at $75.29 on Friday. The stock has a market capitalization of $112.88 billion, a P/E ratio of 21.57, a price-to-earnings-growth ratio of 1.80 and a beta of 1.03. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The business’s 50 day simple moving average is $80.55 and its two-hundred day simple moving average is $82.78.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping the consensus estimate of $0.52 by $0.18. The firm had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same period last year, the company posted $0.94 EPS. Analysts forecast that NIKE, Inc. will post 2.74 EPS for the current year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.13%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, December 2nd. NIKE’s payout ratio is 42.41%.

Wall Street Analyst Weigh In

Several brokerages have commented on NKE. Wells Fargo & Company upped their target price on shares of NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Jefferies Financial Group raised their price objective 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. Daiwa America cut shares of NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft dropped their price objective on NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. 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 analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.