Frisch Financial Group Inc. Increases Stake in NIKE, Inc. (NYSE:NKE)

Frisch Financial Group Inc. grew its position in NIKE, Inc. (NYSE:NKE) by 4.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,036 shares of the footwear maker’s stock after acquiring an additional 136 shares during the period. Frisch Financial Group Inc.’s holdings in NIKE were worth $269,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in NKE. State Street Corp lifted its position in NIKE by 3.3% in the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after purchasing an additional 1,862,021 shares during the period. Wellington Management Group LLP raised its stake in shares of NIKE by 5.1% during the 3rd quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock worth $2,425,886,000 after buying an additional 1,343,093 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of NIKE by 5.5% in the 2nd quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock valued at $832,785,000 after buying an additional 571,544 shares during the period. Fisher Asset Management LLC boosted its stake in shares of NIKE by 6.0% in the third quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock valued at $910,801,000 after buying an additional 583,207 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in NIKE by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,602,534 shares of the footwear maker’s stock worth $760,716,000 after acquiring an additional 117,187 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Performance

NYSE NKE opened at $77.67 on Tuesday. The business’s 50-day moving average price is $79.03 and its 200 day moving average price is $81.46. 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 twelve month low of $70.75 and a twelve month high of $123.39. The company has a market capitalization of $116.46 billion, a PE ratio of 22.26, a price-to-earnings-growth ratio of 1.93 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping 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 business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. During the same period in the prior year, the firm posted $0.94 EPS. The company’s revenue was down 10.4% on a year-over-year basis. On average, research analysts predict that NIKE, Inc. will post 2.73 earnings per share for the current year.

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a $0.40 dividend. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Monday, December 2nd. NIKE’s payout ratio is currently 45.85%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on NKE shares. Barclays reduced their target price on NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a report on Wednesday, October 2nd. Morgan Stanley raised their price objective on shares of NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Royal Bank of Canada lowered 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. Jefferies Financial Group increased their target price on shares of NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a report on Monday, September 30th. Finally, JPMorgan Chase & Co. decreased their price target on NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research note on Monday, December 2nd. Fourteen investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $95.54.

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.