W.G. Shaheen & Associates DBA Whitney & Co Grows Position in NIKE, Inc. (NYSE:NKE)

W.G. Shaheen & Associates DBA Whitney & Co lifted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 52.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 112,683 shares of the footwear maker’s stock after purchasing an additional 38,651 shares during the quarter. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in NIKE were worth $9,961,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. ING Groep NV acquired a new stake in NIKE in the 3rd quarter valued at about $29,628,000. Cordatus Wealth Management LLC raised its position in NIKE by 19.5% in the 3rd quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker’s stock valued at $3,669,000 after purchasing an additional 6,778 shares in the last quarter. Bristlecone Advisors LLC raised its position in NIKE by 14.3% in the 3rd quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock valued at $8,267,000 after purchasing an additional 11,665 shares in the last quarter. WoodTrust Financial Corp grew its stake in NIKE by 19.9% during the 3rd quarter. WoodTrust Financial Corp now owns 98,289 shares of the footwear maker’s stock worth $8,689,000 after buying an additional 16,303 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. grew its stake in NIKE by 44.8% during the 3rd quarter. Farmers & Merchants Investments Inc. now owns 194,101 shares of the footwear maker’s stock worth $17,159,000 after buying an additional 60,008 shares during the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Evercore ISI dropped their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. Daiwa America downgraded NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Robert W. Baird raised their price target on NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Royal Bank of Canada lowered their target price on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. Finally, Williams Trading upgraded NIKE from a “sell” rating to a “buy” rating and lifted their target price for the company from $67.00 to $93.00 in a research note on Friday, August 16th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $96.30.

NIKE Stock Performance

Shares of NKE stock opened at $74.86 on Tuesday. The stock has a fifty day moving average price of $80.79 and a 200 day moving average price of $83.03. The stock has a market cap of $112.24 billion, a PE ratio of 21.45, a P/E/G ratio of 1.86 and a beta of 1.03. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36.

NIKE (NYSE:NKE) last released its quarterly 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. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. During the same period in the previous year, the firm posted $0.94 earnings per share. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. Sell-side analysts forecast that NIKE, Inc. will post 2.74 earnings per share for the current fiscal year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.14%. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, December 2nd. NIKE’s payout ratio is 42.41%.

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.