Davis R M Inc. Cuts Stake in NIKE, Inc. (NYSE:NKE)

Davis R M Inc. lessened its holdings in NIKE, Inc. (NYSE:NKE) by 11.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 67,574 shares of the footwear maker’s stock after selling 8,811 shares during the period. Davis R M Inc.’s holdings in NIKE were worth $5,974,000 as of its most recent SEC filing.

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

NIKE Stock Performance

Shares of NIKE stock opened at $77.40 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. The firm’s 50-day simple moving average is $80.51 and its 200-day simple moving average is $82.52. The firm has a market cap of $116.05 billion, a PE ratio of 22.18, a price-to-earnings-growth ratio of 1.88 and a beta of 1.03.

NIKE (NYSE:NKE) last announced its quarterly earnings data 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. 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 period in the previous year, the company earned $0.94 earnings per share. NIKE’s quarterly revenue was down 10.4% on a year-over-year basis. Equities analysts forecast that NIKE, Inc. will post 2.75 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a dividend of $0.40 per share. 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 (DPR) is 42.41%.

Wall Street Analyst Weigh In

NKE has been the subject of a number of research reports. Guggenheim lowered their price target on NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. UBS Group boosted their target price on NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Sanford C. Bernstein cut 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. Williams Trading upgraded shares of NIKE from a “sell” rating to a “buy” rating and boosted their price objective for the stock from $67.00 to $93.00 in a research note on Friday, August 16th. Finally, Barclays dropped their price objective on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.86.

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.