NIKE, Inc. (NYSE:NKE) Shares Bought by LPL Financial LLC

LPL Financial LLC grew its holdings in NIKE, Inc. (NYSE:NKE) by 19.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,028,131 shares of the footwear maker’s stock after buying an additional 166,127 shares during the quarter. LPL Financial LLC’s holdings in NIKE were worth $90,887,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Transcendent Capital Group LLC lifted its holdings in NIKE by 97.6% in the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 200 shares during the period. VitalStone Financial LLC lifted its stake in shares of NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 150 shares during the period. Bruce G. Allen Investments LLC boosted its holdings in NIKE by 272.5% during the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after buying an additional 376 shares in the last quarter. Triad Wealth Partners LLC acquired a new position in NIKE during the second quarter worth about $44,000. Finally, MFA Wealth Advisors LLC purchased a new position in NIKE in the second quarter valued at about $46,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Needham & Company LLC started coverage on NIKE in a research note on Friday. They set a “buy” rating and a $84.00 price target on the stock. Stifel Nicolaus lowered their target price on NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a report on Monday, August 26th. Jefferies Financial Group raised their price target on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Monday, September 30th. TD Cowen decreased their price objective on shares of NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research report on Monday, November 18th. Finally, Wells Fargo & Company raised their target price on shares of NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Fourteen equities research 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, NIKE presently has an average rating of “Moderate Buy” and an average price target of $95.86.

NIKE Stock Performance

NIKE stock opened at $77.40 on Friday. The company has a market cap of $116.05 billion, a price-to-earnings ratio of 22.18, a price-to-earnings-growth ratio of 1.82 and a beta of 1.03. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. 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 stock’s 50-day moving average is $80.51 and its 200-day moving average is $82.59.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. During the same period in the previous year, the company posted $0.94 earnings per share. NIKE’s revenue was down 10.4% compared to the same quarter last year. Equities analysts anticipate that NIKE, Inc. will post 2.75 earnings per share for the current year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a $0.40 dividend. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend is Monday, December 2nd. NIKE’s dividend payout ratio is currently 42.41%.

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.