Infusive Asset Management Inc. Cuts Holdings in NIKE, Inc. (NYSE:NKE)

Infusive Asset Management Inc. lessened its position in NIKE, Inc. (NYSE:NKE) by 66.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,820 shares of the footwear maker’s stock after selling 84,549 shares during the quarter. NIKE accounts for approximately 1.6% of Infusive Asset Management Inc.’s portfolio, making the stock its 27th largest holding. Infusive Asset Management Inc.’s holdings in NIKE were worth $3,785,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in NKE. Teachers Insurance & Annuity Association of America bought a new position in shares of NIKE during the 3rd quarter valued at about $30,000. VitalStone Financial LLC grew its holdings in shares of NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 150 shares during the last quarter. Bruce G. Allen Investments LLC grew its holdings in NIKE by 272.5% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after acquiring an additional 376 shares during the last quarter. Triad Wealth Partners LLC bought a new stake in shares of NIKE in the second quarter worth about $44,000. Finally, MFA Wealth Advisors LLC bought a new stake in shares of NIKE in the 2nd quarter worth approximately $46,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on NKE. UBS Group increased their price target on shares of NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company raised their target price on NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Deutsche Bank Aktiengesellschaft decreased their price objective on NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Jefferies Financial Group upped their target price on shares of NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Monday, September 30th. Finally, Robert W. Baird boosted their price objective 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. Fourteen investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, NIKE presently has an average rating of “Moderate Buy” and an average target price of $95.86.

NIKE Price Performance

Shares of NKE stock opened at $78.34 on Friday. NIKE, Inc. has a twelve month low of $70.75 and a twelve 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 stock has a fifty day simple moving average of $80.34 and a two-hundred day simple moving average of $82.27. The stock has a market capitalization of $117.46 billion, a price-to-earnings ratio of 22.45, a P/E/G ratio of 1.90 and a beta of 1.03.

NIKE (NYSE:NKE) last issued its earnings results 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. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. During the same period in the prior year, the business earned $0.94 EPS. The firm’s quarterly revenue was down 10.4% on a year-over-year basis. On average, analysts predict that NIKE, Inc. will post 2.75 EPS for the current fiscal year.

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued 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 2.04%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio is currently 42.41%.

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.