Kirtland Hills Capital Management LLC Has $1.26 Million Stock Position in NIKE, Inc. (NYSE:NKE)

Kirtland Hills Capital Management LLC increased its stake in shares of NIKE, Inc. (NYSE:NKE) by 51.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,219 shares of the footwear maker’s stock after purchasing an additional 4,838 shares during the period. Kirtland Hills Capital Management LLC’s holdings in NIKE were worth $1,257,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NKE. Guggenheim cut their price objective on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Sanford C. Bernstein lowered their target price on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a report on Thursday, September 19th. Williams Trading raised NIKE from a “sell” rating to a “buy” rating and upped their price objective for the stock from $67.00 to $93.00 in a research report on Friday, August 16th. Daiwa America cut NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Finally, JPMorgan Chase & Co. decreased their price objective on NIKE from $80.00 to $77.00 and set a “neutral” 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 assigned 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.

NIKE Price Performance

Shares of NYSE:NKE opened at $73.92 on Wednesday. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The company has a market cap of $110.83 billion, a price-to-earnings ratio of 21.18, a PEG ratio of 1.86 and a beta of 1.03. 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 50 day simple moving average of $80.71 and a 200 day simple moving average of $82.90.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $11.64 billion. During the same period last year, the firm posted $0.94 earnings per share. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. Research analysts predict that NIKE, Inc. will post 2.74 earnings per share for the current fiscal year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.16%. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio (DPR) is presently 42.41%.

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.