Townsquare Capital LLC Sells 163,304 Shares of NIKE, Inc. (NYSE:NKE)

Townsquare Capital LLC decreased its holdings in NIKE, Inc. (NYSE:NKE) by 64.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 91,127 shares of the footwear maker’s stock after selling 163,304 shares during the quarter. Townsquare Capital LLC’s holdings in NIKE were worth $8,056,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Cadence Bank lifted its position in NIKE by 2.8% in the 3rd quarter. Cadence Bank now owns 55,282 shares of the footwear maker’s stock valued at $4,887,000 after acquiring an additional 1,520 shares in the last quarter. Lazard Freres Gestion S.A.S. lifted its position in 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 valued at $66,094,000 after acquiring an additional 140,632 shares in the last quarter. Quantbot Technologies LP bought a new position in NIKE in the 3rd quarter valued at about $6,844,000. D.A. Davidson & CO. lifted its position in NIKE by 11.8% in the 3rd quarter. D.A. Davidson & CO. now owns 104,951 shares of the footwear maker’s stock valued at $9,278,000 after acquiring an additional 11,108 shares in the last quarter. Finally, Bowie Capital Management LLC lifted its position in NIKE by 13.6% in the 3rd quarter. Bowie Capital Management LLC now owns 406,342 shares of the footwear maker’s stock valued at $35,921,000 after acquiring an additional 48,733 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Up 0.9 %

Shares of NYSE:NKE opened at $78.31 on Thursday. The firm has a fifty day moving average price of $80.39 and a two-hundred day moving average price of $82.29. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The company has a market cap of $117.41 billion, a price-to-earnings ratio of 22.44, a PEG ratio of 1.92 and a beta of 1.03.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating 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 firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same period last year, the firm earned $0.94 EPS. The business’s quarterly revenue was down 10.4% compared to the same quarter last year. Analysts anticipate that NIKE, Inc. will post 2.75 EPS for the current fiscal year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued 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%.

Wall Street Analysts Forecast Growth

NKE has been the topic of several recent analyst reports. Morgan Stanley lifted their target price on shares of NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. TD Cowen dropped their target price 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. Evercore ISI dropped their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. dropped their target price on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. Finally, Royal Bank of Canada dropped their target price on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 7th. Fourteen equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $95.86.

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.