Summit Trail Advisors LLC lessened its stake in shares of NIKE, Inc. (NYSE:NKE – Free Report) by 14.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,729 shares of the footwear maker’s stock after selling 1,970 shares during the quarter. Summit Trail Advisors LLC’s holdings in NIKE were worth $1,042,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in NKE. Waverly Advisors LLC increased its holdings in NIKE by 33.2% during the first quarter. Waverly Advisors LLC now owns 11,758 shares of the footwear maker’s stock valued at $1,105,000 after buying an additional 2,931 shares during the last quarter. Kennedy Capital Management LLC purchased a new stake in shares of NIKE in the 1st quarter worth $5,454,000. B. Riley Wealth Advisors Inc. raised its holdings in NIKE by 17.1% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 58,025 shares of the footwear maker’s stock worth $5,568,000 after purchasing an additional 8,458 shares during the period. Tidal Investments LLC lifted its position in NIKE by 26.2% during the first quarter. Tidal Investments LLC now owns 53,670 shares of the footwear maker’s stock valued at $5,045,000 after purchasing an additional 11,140 shares in the last quarter. Finally, Coppell Advisory Solutions Corp. bought a new stake in NIKE during the first quarter valued at about $350,000. 64.25% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several research analysts have recently commented on NKE shares. Telsey Advisory Group decreased their price objective on 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 raised their target price on shares of NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. UBS Group lifted their price target on shares of NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Bank of America reduced their price objective on shares of NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company lifted their target price on shares of NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Fourteen equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $95.86.
NIKE Price Performance
NIKE stock opened at $79.26 on Tuesday. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The firm has a 50-day moving average price of $80.50 and a 200-day moving average price of $82.42. The firm has a market capitalization of $118.84 billion, a PE ratio of 22.71, a price-to-earnings-growth ratio of 1.88 and a beta of 1.03.
NIKE (NYSE:NKE – Get Free Report) last announced its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.18. The business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.94 earnings per share. As a group, equities research analysts forecast that NIKE, Inc. will post 2.75 EPS for the current year.
NIKE Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio is 45.85%.
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.
Featured Articles
- Five stocks we like better than NIKE
- Technology Stocks Explained: Here’s What to Know About Tech
- Abacus Life’s CEO on Cracking the Code of Longevity Returns
- P/E Ratio Calculation: How to Assess Stocks
- Elon Musk and Trump Push for Self-Driving Cars: 3 Stocks to Gain
- How Can Retail Investors Trade the Toronto Stock Exchange (TSX)?
- Discover the 3 Best Performing Stocks That Went Public in 2024
Receive News & Ratings for NIKE Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NIKE and related companies with MarketBeat.com's FREE daily email newsletter.