WestEnd Advisors LLC Grows Position in NIKE, Inc. (NYSE:NKE)

WestEnd Advisors LLC increased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 1.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 408,249 shares of the footwear maker’s stock after purchasing an additional 7,086 shares during the quarter. WestEnd Advisors LLC’s holdings in NIKE were worth $36,089,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ascent Wealth Partners LLC grew its stake in shares of NIKE by 0.4% in the first quarter. Ascent Wealth Partners LLC now owns 28,513 shares of the footwear maker’s stock valued at $2,680,000 after buying an additional 115 shares in the last quarter. Condor Capital Management raised its holdings in shares of NIKE by 0.4% during the first quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock worth $2,451,000 after purchasing an additional 116 shares during the period. Lodestone Wealth Management LLC lifted its position in shares of NIKE by 5.5% in the 1st quarter. Lodestone Wealth Management LLC now owns 2,248 shares of the footwear maker’s stock worth $211,000 after buying an additional 118 shares during the last quarter. Nvwm LLC boosted its holdings in shares of NIKE by 1.0% in the 1st quarter. Nvwm LLC now owns 11,568 shares of the footwear maker’s stock valued at $1,091,000 after buying an additional 120 shares during the period. Finally, Garrison Point Advisors LLC grew its position in shares of NIKE by 1.9% during the 3rd quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock valued at $593,000 after buying an additional 126 shares during the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Price Performance

NYSE NKE traded down $0.91 on Wednesday, hitting $77.49. 1,571,121 shares of the company were exchanged, compared to its average volume of 11,514,966. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The company has a market cap of $116.19 billion, a P/E ratio of 22.48, a P/E/G ratio of 1.90 and a beta of 1.02. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The firm has a 50 day moving average of $82.52 and a two-hundred day moving average of $84.72.

NIKE (NYSE:NKE) last released 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. The business had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. NIKE’s revenue was down 10.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.94 earnings per share. On average, equities analysts predict that NIKE, Inc. will post 2.76 EPS for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date was Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is currently 42.41%.

Analyst Ratings Changes

A number of equities analysts have issued reports on NKE shares. Wells Fargo & Company raised their target price on shares of NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Daiwa America lowered NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft reduced their price objective on NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. 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 note on Wednesday, October 2nd. Finally, TD Cowen increased their price target on NIKE from $71.00 to $78.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Fourteen analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and an average target price of $96.56.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

NIKE 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.