NIKE, Inc. (NYSE:NKE) Holdings Raised by Investors Research Corp

Investors Research Corp boosted its stake in NIKE, Inc. (NYSE:NKE) by 3,323.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,052 shares of the footwear maker’s stock after buying an additional 11,700 shares during the period. Investors Research Corp’s holdings in NIKE were worth $1,065,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of NKE. Transcendent Capital Group LLC boosted its stake in NIKE by 97.6% during the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 200 shares in the last quarter. VitalStone Financial LLC lifted its holdings in NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 150 shares during the last quarter. Bruce G. Allen Investments LLC grew its stake in shares of NIKE by 272.5% in the 2nd 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 during the last quarter. Triad Wealth Partners LLC acquired a new stake in NIKE during the second quarter valued at approximately $44,000. Finally, Riverview Trust Co acquired a new position in NIKE in the third quarter worth approximately $52,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Ratings Changes

NKE has been the subject of a number of recent research reports. Stifel Nicolaus cut their price objective on NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research report on Monday, August 26th. Guggenheim dropped their price target on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Williams Trading raised shares of NIKE from a “sell” rating to a “buy” rating and upped their price objective for the company from $67.00 to $93.00 in a research note on Friday, August 16th. Morgan Stanley lifted their price objective on shares of NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Finally, Robert W. Baird upped their price target on NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Fourteen research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $96.30.

NIKE Price Performance

Shares of NIKE stock traded up $0.41 during midday trading on Thursday, hitting $73.77. 1,002,858 shares of the company were exchanged, compared to its average volume of 11,453,531. NIKE, Inc. has a 52 week low of $70.75 and a 52 week 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 firm has a 50 day simple moving average of $80.61 and a 200-day simple moving average of $82.83. The firm has a market cap of $110.61 billion, a P/E ratio of 21.01, a PEG ratio of 1.80 and a beta of 1.03.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The business had revenue of $11.59 billion for 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% on a year-over-year basis. During the same period in the prior year, the company earned $0.94 EPS. Research analysts forecast that NIKE, Inc. will post 2.74 earnings per share for the current year.

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders 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 dividend yield of 2.17%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, December 2nd. NIKE’s dividend payout ratio is presently 42.41%.

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.