Loomis Sayles & Co. L P Grows Stake in NIKE, Inc. (NYSE:NKE)

Loomis Sayles & Co. L P lifted its position in shares of NIKE, Inc. (NYSE:NKE) by 1,209,638.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 6,508,394 shares of the footwear maker’s stock after acquiring an additional 6,507,856 shares during the quarter. NIKE makes up approximately 0.8% of Loomis Sayles & Co. L P’s portfolio, making the stock its 28th biggest position. Loomis Sayles & Co. L P’s holdings in NIKE were worth $575,342,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in NKE. Garrison Point Advisors LLC increased its stake in shares of NIKE by 1.9% during the third quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock worth $593,000 after acquiring an additional 126 shares during the period. Stephens Consulting LLC boosted its position in NIKE by 20.0% during the third quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock worth $68,000 after purchasing an additional 128 shares in the last quarter. PSI Advisors LLC grew its stake in NIKE by 26.3% in the 3rd quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock valued at $55,000 after acquiring an additional 130 shares during the last quarter. Chapin Davis Inc. lifted its holdings in shares of NIKE by 1.2% in the third quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock valued at $1,010,000 after purchasing an additional 133 shares in the last quarter. Finally, Meridian Financial Partners LLC grew its position in shares of NIKE by 1.6% in the third quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock valued at $742,000 after purchasing an additional 133 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on NKE shares. Deutsche Bank Aktiengesellschaft cut their price objective on NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Jefferies Financial Group lifted their price objective on NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Monday, September 30th. Stifel Nicolaus reduced their target price on shares of NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a report on Monday, August 26th. Telsey Advisory Group cut their price objective on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Finally, UBS Group raised their target price on shares of NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Fourteen research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, NIKE presently has an average rating of “Moderate Buy” and a consensus target price of $95.86.

NIKE Stock Up 3.1 %

Shares of NIKE stock opened at $77.40 on Monday. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The company has a market capitalization of $116.05 billion, a PE ratio of 22.18, a P/E/G ratio of 1.88 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 business has a 50-day moving average of $80.51 and a 200-day moving average of $82.52.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share 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 during the quarter, compared to analyst estimates of $11.64 billion. During the same quarter last year, the firm earned $0.94 EPS. NIKE’s quarterly revenue was down 10.4% on a year-over-year basis. As a group, equities analysts forecast that NIKE, Inc. will post 2.75 EPS for the current fiscal year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.07%. NIKE’s dividend payout ratio is currently 42.41%.

NIKE 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.