Truvestments Capital LLC Takes Position in NIKE, Inc. (NYSE:NKE)

Truvestments Capital LLC acquired a new position in shares of NIKE, Inc. (NYSE:NKE) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,120 shares of the footwear maker’s stock, valued at approximately $187,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Waverly Advisors LLC lifted its stake in NIKE by 33.2% during the 1st quarter. Waverly Advisors LLC now owns 11,758 shares of the footwear maker’s stock worth $1,105,000 after acquiring an additional 2,931 shares in the last quarter. Kennedy Capital Management LLC purchased a new stake in NIKE during the first quarter worth about $5,454,000. B. Riley Wealth Advisors Inc. lifted its position in shares of NIKE by 17.1% during the first 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 in the last quarter. Tidal Investments LLC boosted its stake in shares of NIKE by 26.2% in 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 during the period. Finally, Coppell Advisory Solutions Corp. acquired a new position in shares of NIKE in the first quarter valued at approximately $350,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Evercore ISI decreased their price target on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Sanford C. Bernstein decreased their target price on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a report on Thursday, September 19th. Morgan Stanley increased their price target on NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Robert W. Baird boosted their price objective on NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Finally, Telsey Advisory Group decreased their price target on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Fourteen research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.86.

NIKE Stock Performance

NYSE:NKE opened at $79.26 on Tuesday. 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 firm has a market cap of $118.84 billion, a price-to-earnings ratio of 22.71, a price-to-earnings-growth ratio of 1.88 and a beta of 1.03. The firm’s fifty day moving average price is $80.50 and its 200 day moving average price is $82.42. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39.

NIKE (NYSE:NKE) last issued its 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 the consensus estimate of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.94 earnings per share. On average, sell-side analysts expect that NIKE, Inc. will post 2.75 EPS for the current year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.02%. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, December 2nd. NIKE’s dividend 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.