Atlanta Consulting Group Advisors LLC Increases Stake in NIKE, Inc. (NYSE:NKE)
by Amy Steele · The Cerbat GemAtlanta Consulting Group Advisors LLC raised its holdings in NIKE, Inc. (NYSE:NKE – Free Report) by 52.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,985 shares of the footwear maker’s stock after buying an additional 3,798 shares during the period. Atlanta Consulting Group Advisors LLC’s holdings in NIKE were worth $971,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of NKE. Legal & General Group Plc raised its position in 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 purchasing an additional 571,544 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in NIKE by 0.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,025,616 shares of the footwear maker’s stock valued at $454,151,000 after acquiring an additional 52,500 shares in the last quarter. Longview Partners Guernsey LTD acquired a new stake in NIKE in the first quarter valued at approximately $533,533,000. Capital World Investors lifted its stake in NIKE by 612.2% in the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock worth $487,327,000 after acquiring an additional 4,457,376 shares during the last quarter. Finally, Clearbridge Investments LLC grew its holdings in NIKE by 2.3% during the 1st quarter. Clearbridge Investments LLC now owns 4,963,253 shares of the footwear maker’s stock worth $466,447,000 after acquiring an additional 109,295 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts recently commented on the stock. Wells Fargo & Company boosted their target price on shares of NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Bank of America cut their target price on NIKE from $104.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Stifel Nicolaus lowered their price target on NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a report on Monday, August 26th. Royal Bank of Canada cut their price objective on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a report on Thursday, November 7th. Finally, UBS Group upped their target price on shares of NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.48.
Read Our Latest Research Report on NKE
NIKE Stock Up 1.3 %
Shares of NYSE NKE opened at $76.66 on Friday. 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, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. The stock’s 50-day simple moving average is $80.89 and its 200-day simple moving average is $83.20. The firm has a market cap of $114.94 billion, a price-to-earnings ratio of 21.97, a PEG ratio of 1.86 and a beta of 1.03.
NIKE (NYSE:NKE – Get Free Report) last announced its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $11.64 billion. NIKE’s quarterly revenue was down 10.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.94 EPS. As a group, equities analysts anticipate that NIKE, Inc. will post 2.74 earnings per share for the current fiscal year.
NIKE Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a $0.40 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.09%. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is presently 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.
Recommended Stories
- Five stocks we like better than NIKE
- Find and Profitably Trade Stocks at 52-Week Lows
- ORIC: Working with Two Pharma Giants, Analysts See +100% Upside
- Asset Allocation: The Key to a Successful Portfolio. Are You Paying Attention to Yours?
- Freeport-McMoRan, Copper Demand Short-Term Pain, Long-Term Gain
- What is a SEC Filing?
- Time to Load Up on Home Builders?
Want to see what other hedge funds are holding NKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NIKE, Inc. (NYSE:NKE – Free Report).