Knuff & Co LLC Trims Stake in NIKE, Inc. (NYSE:NKE)

Knuff & Co LLC lowered its position in NIKE, Inc. (NYSE:NKE) by 1.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,527 shares of the footwear maker’s stock after selling 275 shares during the period. Knuff & Co LLC’s holdings in NIKE were worth $2,168,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. ING Groep NV purchased a new position in NIKE during the third quarter valued at $29,628,000. Cordatus Wealth Management LLC lifted its position in NIKE by 19.5% during the 3rd quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker’s stock valued at $3,669,000 after acquiring an additional 6,778 shares during the period. Bristlecone Advisors LLC boosted its stake in NIKE by 14.3% during the third quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock worth $8,267,000 after acquiring an additional 11,665 shares in the last quarter. WoodTrust Financial Corp grew its holdings in NIKE by 19.9% in the third quarter. WoodTrust Financial Corp now owns 98,289 shares of the footwear maker’s stock worth $8,689,000 after purchasing an additional 16,303 shares during the period. Finally, Farmers & Merchants Investments Inc. increased its stake in shares of NIKE by 44.8% during the third quarter. Farmers & Merchants Investments Inc. now owns 194,101 shares of the footwear maker’s stock valued at $17,159,000 after purchasing an additional 60,008 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

NIKE Stock Performance

NKE opened at $74.86 on Tuesday. The company has a 50 day simple moving average of $80.79 and a two-hundred day simple moving average of $83.03. 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 firm has a market cap of $112.24 billion, a P/E ratio of 21.45, a PEG ratio of 1.86 and a beta of 1.03. NIKE, Inc. has a 1-year low of $70.75 and a 1-year 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, topping analysts’ consensus estimates of $0.52 by $0.18. The business had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. NIKE’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.94 EPS. Equities analysts forecast that NIKE, Inc. will post 2.74 earnings per share for the current fiscal 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 paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.14%. The ex-dividend date is Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio (DPR) is 42.41%.

Wall Street Analysts Forecast Growth

NKE has been the topic of a number of analyst reports. Williams Trading raised NIKE from a “sell” rating to a “buy” rating and boosted their price target for the stock from $67.00 to $93.00 in a research report on Friday, August 16th. Telsey Advisory Group cut their target price on NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. Guggenheim lowered their price target on NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Sanford C. Bernstein cut their price objective on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research report on Thursday, September 19th. Finally, Bank of America decreased their target price on shares of NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $96.30.

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.