Victory Capital Management Inc. Buys 37,035 Shares of NIKE, Inc. (NYSE:NKE)

Victory Capital Management Inc. raised its stake in NIKE, Inc. (NYSE:NKE) by 5.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 748,386 shares of the footwear maker’s stock after acquiring an additional 37,035 shares during the period. Victory Capital Management Inc.’s holdings in NIKE were worth $66,157,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Missouri Trust & Investment Co increased its holdings in shares of NIKE by 10.6% in the third quarter. Missouri Trust & Investment Co now owns 18,604 shares of the footwear maker’s stock worth $1,645,000 after purchasing an additional 1,779 shares during the last quarter. Verus Capital Partners LLC grew its holdings in shares of NIKE by 44.4% in the third quarter. Verus Capital Partners LLC now owns 6,000 shares of the footwear maker’s stock valued at $530,000 after purchasing an additional 1,845 shares in the last quarter. Platform Technology Partners increased its position in NIKE by 6.3% in the third quarter. Platform Technology Partners now owns 13,334 shares of the footwear maker’s stock worth $1,179,000 after purchasing an additional 788 shares during the last quarter. Rakuten Securities Inc. raised its stake in NIKE by 24.8% during the third quarter. Rakuten Securities Inc. now owns 6,240 shares of the footwear maker’s stock valued at $552,000 after purchasing an additional 1,240 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in NIKE by 1.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,028,773 shares of the footwear maker’s stock valued at $267,744,000 after purchasing an additional 34,563 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

NKE stock opened at $75.67 on Friday. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $113.46 billion, a P/E ratio of 21.68, a PEG ratio of 1.86 and a beta of 1.03. The business has a 50 day simple moving average of $81.07 and a 200-day simple moving average of $83.44. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $11.64 billion. During the same quarter in the previous year, the firm posted $0.94 EPS. The firm’s revenue for the quarter was down 10.4% on a year-over-year basis. As a group, equities analysts anticipate 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. Shareholders of record on Monday, December 2nd will be given a dividend of $0.40 per share. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.11%. NIKE’s payout ratio is presently 42.41%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. UBS Group raised their price objective on NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. dropped their price objective on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a research note on Wednesday, October 2nd. Wells Fargo & Company increased 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. Sanford C. Bernstein dropped their price target on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research note on Thursday, September 19th. Finally, Evercore ISI decreased their price objective on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $96.48.

NIKE Company 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.