Intrepid Capital Management Inc. Purchases New Stake in NIKE, Inc. (NYSE:NKE)

Intrepid Capital Management Inc. purchased a new stake in shares of NIKE, Inc. (NYSE:NKE) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 3,601 shares of the footwear maker’s stock, valued at approximately $318,000.

Several other institutional investors have also added to or reduced their stakes in NKE. Teachers Insurance & Annuity Association of America purchased a new stake in NIKE during the third quarter valued at about $30,000. VitalStone Financial LLC lifted its holdings in NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 150 shares during the last quarter. Bruce G. Allen Investments LLC lifted its holdings in NIKE by 272.5% during the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after purchasing an additional 376 shares during the last quarter. Triad Wealth Partners LLC purchased a new stake in shares of NIKE in the second quarter worth about $44,000. Finally, MFA Wealth Advisors LLC purchased a new stake in shares of NIKE in the second quarter worth about $46,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird increased their price target on shares of NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Daiwa America downgraded shares of NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. JPMorgan Chase & Co. lowered their price target on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a report on Monday. Jefferies Financial Group increased their price target on shares of NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Monday, September 30th. Finally, Sanford C. Bernstein lowered their price target on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a report on Thursday, September 19th. Fourteen equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $95.71.

NIKE Trading Down 1.0 %

Shares of NIKE stock traded down $0.80 on Tuesday, hitting $78.29. The stock had a trading volume of 1,762,985 shares, compared to its average volume of 11,453,787. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The stock has a market cap of $117.38 billion, a price-to-earnings ratio of 22.66, a PEG ratio of 1.91 and a beta of 1.02. The stock’s 50-day simple moving average is $80.18 and its two-hundred day simple moving average is $82.03.

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