Holocene Advisors LP Invests $148.64 Million in NIKE, Inc. (NYSE:NKE)

Holocene Advisors LP acquired a new stake in NIKE, Inc. (NYSE:NKE) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 1,681,386 shares of the footwear maker’s stock, valued at approximately $148,635,000.

Other hedge funds have also modified their holdings of the company. ING Groep NV acquired a new position in NIKE in the third quarter valued at about $29,628,000. Cordatus Wealth Management LLC boosted its holdings in shares of NIKE by 19.5% in the 3rd quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker’s stock worth $3,669,000 after acquiring an additional 6,778 shares in the last quarter. Bristlecone Advisors LLC grew its position in NIKE by 14.3% during the 3rd 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 during the last quarter. Lazard Freres Gestion S.A.S. increased its holdings in NIKE by 23.2% during the 3rd quarter. Lazard Freres Gestion S.A.S. now owns 747,675 shares of the footwear maker’s stock valued at $66,094,000 after purchasing an additional 140,632 shares in the last quarter. Finally, D.A. Davidson & CO. raised its position in NIKE by 11.8% in the 3rd quarter. D.A. Davidson & CO. now owns 104,951 shares of the footwear maker’s stock valued at $9,278,000 after purchasing an additional 11,108 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Stock Down 0.4 %

NKE stock opened at $78.48 on Monday. 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 stock has a market capitalization of $117.67 billion, a P/E ratio of 22.57, a P/E/G ratio of 1.91 and a beta of 1.03. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The business has a 50-day moving average of $80.18 and a 200-day moving average of $82.03.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.52 by $0.18. The firm had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.94 EPS. On average, sell-side analysts anticipate that NIKE, Inc. will post 2.75 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 issued a dividend of $0.40 per share. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.60 annualized dividend and a yield of 2.04%. NIKE’s dividend payout ratio is presently 42.41%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NKE. Needham & Company LLC started coverage on NIKE in a report on Friday, November 22nd. They issued a “buy” rating and a $84.00 price target for the company. Daiwa America cut NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Telsey Advisory Group reduced their target price on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. Robert W. Baird lifted their price target on shares of NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Finally, Morgan Stanley increased their price objective on shares of NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Fourteen research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and a consensus price target of $95.86.

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.