Natixis Advisors LLC Raises Stock Position in NIKE, Inc. (NYSE:NKE)

by · The Cerbat Gem

Natixis Advisors LLC lifted its position in shares of NIKE, Inc. (NYSE:NKE – Free Report) by 27.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,242,707 shares of the footwear maker’s stock after acquiring an additional 268,791 shares during the quarter. Natixis Advisors LLC owned 0.08% of NIKE worth $109,855,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Transcendent Capital Group LLC increased its stake in shares of NIKE by 97.6% during the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 200 shares in the last quarter. VitalStone Financial LLC raised its stake in shares of NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 150 shares during the period. Bruce G. Allen Investments LLC lifted its stake in shares of NIKE by 272.5% in the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after acquiring an additional 376 shares in the last quarter. Triad Wealth Partners LLC purchased a new position in shares of NIKE during the 2nd quarter valued at approximately $44,000. Finally, Riverview Trust Co acquired a new stake in shares of NIKE during the third quarter worth approximately $52,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NKE opened at $76.66 on Friday. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The company has a market capitalization of $114.94 billion, a price-to-earnings ratio of 21.97, a P/E/G ratio of 1.86 and a beta of 1.03. The business’s 50-day moving average is $80.89 and its 200-day moving average is $83.27.

NIKE (NYSE:NKE – Get Free Report) last announced its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $11.64 billion. The firm’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.94 EPS. Equities research analysts expect that NIKE, Inc. will post 2.74 EPS for the current fiscal year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.09%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, December 2nd. NIKE’s payout ratio is currently 42.41%.

Analysts Set New Price Targets

A number of research firms have commented on NKE. Royal Bank of Canada reduced their price objective on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. Bank of America lowered their price objective on NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Wells Fargo & Company lifted their target price on NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Morgan Stanley raised their price objective on NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Finally, Robert W. Baird increased their target price on shares of NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Fourteen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $96.48.

Check Out Our Latest Analysis on NKE

NIKE Profile

(Free Report)

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.

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