Brown Shipley& Co Ltd Reduces Stock Holdings in NIKE, Inc. (NYSE:NKE)

Brown Shipley& Co Ltd lowered its stake in NIKE, Inc. (NYSE:NKE) by 5.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,179 shares of the footwear maker’s stock after selling 3,634 shares during the period. NIKE accounts for approximately 2.5% of Brown Shipley& Co Ltd’s holdings, making the stock its 14th biggest holding. Brown Shipley& Co Ltd’s holdings in NIKE were worth $5,143,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in NKE. ING Groep NV bought a new stake in shares of NIKE during the 3rd quarter valued at about $29,628,000. Cordatus Wealth Management LLC boosted its position in NIKE by 19.5% during the 3rd quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker’s stock valued at $3,669,000 after acquiring an additional 6,778 shares in the last quarter. Bristlecone Advisors LLC grew its holdings in shares of NIKE by 14.3% during the 3rd quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock worth $8,267,000 after acquiring an additional 11,665 shares during the period. Lazard Freres Gestion S.A.S. raised its position in shares of NIKE by 23.2% in the 3rd quarter. Lazard Freres Gestion S.A.S. now owns 747,675 shares of the footwear maker’s stock worth $66,094,000 after acquiring an additional 140,632 shares in the last quarter. Finally, D.A. Davidson & CO. raised its position in shares of NIKE by 11.8% in the 3rd quarter. D.A. Davidson & CO. now owns 104,951 shares of the footwear maker’s stock worth $9,278,000 after acquiring an additional 11,108 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Trading Up 0.9 %

Shares of NKE stock opened at $78.31 on Thursday. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The stock has a market capitalization of $117.41 billion, a P/E ratio of 22.44, a P/E/G ratio of 1.92 and a beta of 1.03. The firm’s 50 day moving average is $80.39 and its 200 day moving average is $82.29.

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

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.40 per share. 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 2.04%. The ex-dividend date is Monday, December 2nd. NIKE’s payout ratio is currently 42.41%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on NKE shares. Sanford C. Bernstein reduced their price target on NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research note on Thursday, September 19th. Stifel Nicolaus reduced their target price on shares of NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a research report on Monday, August 26th. Robert W. Baird increased their price target 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. Williams Trading raised shares of NIKE from a “sell” rating to a “buy” rating and boosted their price objective for the stock from $67.00 to $93.00 in a research note on Friday, August 16th. Finally, Telsey Advisory Group decreased their target price 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 analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and an average target price of $95.86.

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.