Canopy Partners LLC Cuts Holdings in NIKE, Inc. (NYSE:NKE)

Canopy Partners LLC decreased its position in NIKE, Inc. (NYSE:NKE) by 5.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,870 shares of the footwear maker’s stock after selling 280 shares during the period. Canopy Partners LLC’s holdings in NIKE were worth $431,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Kingsview Wealth Management LLC lifted its position in shares of NIKE by 25.2% during the 3rd quarter. Kingsview Wealth Management LLC now owns 89,189 shares of the footwear maker’s stock valued at $7,884,000 after buying an additional 17,941 shares during the last quarter. Cerity Partners LLC lifted its position in shares of NIKE by 2.6% during the third quarter. Cerity Partners LLC now owns 409,706 shares of the footwear maker’s stock worth $36,231,000 after acquiring an additional 10,546 shares in the last quarter. Great Valley Advisor Group Inc. boosted its holdings in shares of NIKE by 4.9% in the third quarter. Great Valley Advisor Group Inc. now owns 11,409 shares of the footwear maker’s stock worth $1,009,000 after acquiring an additional 532 shares during the period. Leelyn Smith LLC lifted its holdings in NIKE by 12.0% during the 3rd quarter. Leelyn Smith LLC now owns 38,192 shares of the footwear maker’s stock worth $3,376,000 after purchasing an additional 4,107 shares in the last quarter. Finally, Camden National Bank boosted its stake in NIKE by 61.0% in the 3rd quarter. Camden National Bank now owns 86,834 shares of the footwear maker’s stock worth $7,676,000 after purchasing an additional 32,915 shares during the period. Institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

NKE has been the topic of a number of recent analyst reports. Morgan Stanley increased their price target on shares of NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Sanford C. Bernstein dropped their price objective on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research note on Thursday, September 19th. Bank of America reduced their target price on NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Telsey Advisory Group lowered their price target on NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Fourteen research 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 presently has an average rating of “Moderate Buy” and a consensus price target of $95.86.

NIKE Trading Up 3.1 %

Shares of NKE opened at $77.40 on Friday. 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 price-to-earnings ratio of 22.18, a PEG ratio of 1.82 and a beta of 1.03. The firm’s 50-day moving average price is $80.51 and its 200-day moving average price is $82.67. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The firm had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.94 EPS. Sell-side analysts anticipate that NIKE, Inc. will post 2.75 EPS for the current year.

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a $0.40 dividend. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.07%. NIKE’s dividend payout ratio is 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.