NIKE, Inc. (NYSE:NKE) Shares Bought by Vestcor Inc

Vestcor Inc boosted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 5.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,893 shares of the footwear maker’s stock after buying an additional 1,320 shares during the period. Vestcor Inc’s holdings in NIKE were worth $2,112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in NKE. Loomis Sayles & Co. L P increased its position in NIKE by 1,209,638.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock valued at $575,342,000 after buying an additional 6,507,856 shares in the last quarter. State Street Corp increased its holdings in shares of NIKE by 3.3% in the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after purchasing an additional 1,862,021 shares during the period. Holocene Advisors LP purchased a new position in shares of NIKE in the third quarter worth about $148,635,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of NIKE in the third quarter worth about $144,927,000. Finally, Renaissance Technologies LLC raised its stake in shares of NIKE by 351.7% in the second quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock worth $150,101,000 after purchasing an additional 1,550,611 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Daiwa America cut NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft reduced their price objective on NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Evercore ISI reduced their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Robert W. Baird lifted 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. Finally, Sanford C. Bernstein reduced their price target on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research report on Thursday, September 19th. Fourteen research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.46.

NIKE Stock Performance

Shares of NYSE:NKE opened at $76.76 on Wednesday. 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’s 50 day moving average price is $79.03 and its 200-day moving average price is $81.46. The firm has a market capitalization of $115.09 billion, a PE ratio of 21.99, a P/E/G ratio of 1.90 and a beta of 1.02. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) 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 analyst estimates of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business’s revenue was down 10.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.94 earnings per share. As a group, equities research analysts expect that NIKE, Inc. will post 2.73 earnings per share for the current fiscal year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.08%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is 45.85%.

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.