Douglass Winthrop Advisors LLC Cuts Position in NIKE, Inc. (NYSE:NKE)

Douglass Winthrop Advisors LLC lowered its stake in shares of NIKE, Inc. (NYSE:NKE) by 6.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 58,970 shares of the footwear maker’s stock after selling 4,170 shares during the period. Douglass Winthrop Advisors LLC’s holdings in NIKE were worth $5,213,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. VitalStone Financial LLC boosted its stake 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 acquiring an additional 150 shares in the last quarter. Bruce G. Allen Investments LLC boosted its position 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 in the last quarter. Triad Wealth Partners LLC acquired a new stake in NIKE in the second quarter valued at $44,000. MFA Wealth Advisors LLC acquired a new position in shares of NIKE during the 2nd quarter worth $46,000. Finally, Lynx Investment Advisory purchased a new stake in shares of NIKE in the 2nd quarter worth about $47,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Performance

NYSE NKE opened at $77.40 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The firm has a market capitalization of $116.05 billion, a P/E ratio of 22.18, a P/E/G ratio of 1.88 and a beta of 1.03. The business’s 50-day simple moving average is $80.51 and its 200-day simple moving average is $82.52.

NIKE (NYSE:NKE) last announced 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 for the quarter, compared to analysts’ expectations of $11.64 billion. During the same period in the previous year, the company posted $0.94 earnings per share. NIKE’s revenue was down 10.4% compared to the same quarter last year. Equities analysts predict that NIKE, Inc. will post 2.75 EPS for the current year.

NIKE Increases Dividend

The firm 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 dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.07%. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, December 2nd. NIKE’s dividend payout ratio is 42.41%.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Stifel Nicolaus dropped their target price on shares of NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a report on Monday, August 26th. JPMorgan Chase & Co. cut their price objective on NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft lowered their target price on NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Daiwa America cut NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Finally, Morgan Stanley increased their price objective on NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Fourteen investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the company 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.