NIKE, Inc. (NYSE:NKE) Shares Purchased by Bowie Capital Management LLC

Bowie Capital Management LLC raised its stake in NIKE, Inc. (NYSE:NKE) by 13.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 406,342 shares of the footwear maker’s stock after acquiring an additional 48,733 shares during the period. NIKE accounts for about 1.9% of Bowie Capital Management LLC’s investment portfolio, making the stock its 21st biggest holding. Bowie Capital Management LLC’s holdings in NIKE were worth $35,921,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in NKE. Garrison Point Advisors LLC lifted its position in NIKE by 1.9% in 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 period. Stephens Consulting LLC lifted its holdings in shares of NIKE by 20.0% in the third 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 boosted its stake in NIKE by 26.3% during the third quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock valued at $55,000 after buying an additional 130 shares in the last quarter. Chapin Davis Inc. grew its holdings in NIKE by 1.2% during the third quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock worth $1,010,000 after acquiring an additional 133 shares during the period. Finally, Meridian Financial Partners LLC raised its position in NIKE by 1.6% in the third quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock worth $742,000 after acquiring an additional 133 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Performance

Shares of NIKE stock traded up $1.07 during trading on Monday, reaching $78.47. The company’s stock had a trading volume of 4,450,011 shares, compared to its average volume of 11,478,125. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The firm has a market cap of $117.65 billion, a price-to-earnings ratio of 22.18, a price-to-earnings-growth ratio of 1.88 and a beta of 1.03. The business’s fifty day moving average price is $80.51 and its 200-day moving average price is $82.52.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping 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 company had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. During the same period in the previous year, the business posted $0.94 EPS. The company’s revenue for the quarter was down 10.4% on a year-over-year basis. As a group, equities research analysts predict that NIKE, Inc. will post 2.75 earnings per share for the current year.

NIKE Increases Dividend

The business also recently announced 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. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Monday, December 2nd. NIKE’s dividend payout ratio is presently 42.41%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada lowered their price objective on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. Evercore ISI decreased their price target on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. Telsey Advisory Group cut their price objective on NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Needham & Company LLC initiated coverage on NIKE in a research note on Friday. They set a “buy” rating and a $84.00 price objective for the company. Finally, Sanford C. Bernstein cut their target price on NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research report on Thursday, September 19th. Fourteen investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $95.86.

NIKE Company 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.