Ferguson Wellman Capital Management Inc. Buys 370 Shares of NIKE, Inc. (NYSE:NKE)

Ferguson Wellman Capital Management Inc. boosted its stake in NIKE, Inc. (NYSE:NKE) by 1.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 38,800 shares of the footwear maker’s stock after buying an additional 370 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in NIKE were worth $3,430,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Tokio Marine Asset Management Co. Ltd. increased its stake in NIKE by 1.4% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 155,943 shares of the footwear maker’s stock valued at $13,785,000 after buying an additional 2,203 shares during the last quarter. Curi RMB Capital LLC increased its position in shares of NIKE by 9.6% during the third quarter. Curi RMB Capital LLC now owns 6,765 shares of the footwear maker’s stock valued at $598,000 after acquiring an additional 591 shares during the last quarter. KBC Group NV lifted its holdings in NIKE by 145.2% during the third quarter. KBC Group NV now owns 2,111,708 shares of the footwear maker’s stock worth $186,675,000 after acquiring an additional 1,250,380 shares during the period. Summit Asset Management LLC purchased a new position in shares of NIKE in the 3rd quarter worth about $228,000. Finally, Cable Hill Partners LLC boosted its stake in NIKE by 27.6% in the third quarter. Cable Hill Partners LLC now owns 33,751 shares of the footwear maker’s stock valued at $2,996,000 after acquiring an additional 7,308 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

NIKE Price Performance

Shares of NIKE stock opened at $75.67 on Friday. The company has a market cap of $113.46 billion, a PE ratio of 21.68, a P/E/G ratio of 1.86 and a beta of 1.03. The business has a 50 day moving average of $81.07 and a 200 day moving average of $83.44. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The firm had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.94 EPS. As a group, equities research analysts forecast that NIKE, Inc. will post 2.74 earnings per share 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 given a $0.40 dividend. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.11%. NIKE’s dividend payout ratio is currently 42.41%.

Analysts Set New Price Targets

Several analysts have issued reports on NKE shares. Evercore ISI lowered their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. Williams Trading upgraded NIKE from a “sell” rating to a “buy” rating and boosted their price objective for the company from $67.00 to $93.00 in a research note on Friday, August 16th. Robert W. Baird increased their target price on shares of NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Telsey Advisory Group reduced their price objective 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. Finally, UBS Group increased their target price on NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $96.48.

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.