Camden National Bank Purchases 32,915 Shares of NIKE, Inc. (NYSE:NKE)

Camden National Bank raised its position in shares of NIKE, Inc. (NYSE:NKE) by 61.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 86,834 shares of the footwear maker’s stock after purchasing an additional 32,915 shares during the period. Camden National Bank’s holdings in NIKE were worth $7,676,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the stock. Legal & General Group Plc raised its position 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 worth $832,785,000 after acquiring an additional 571,544 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of NIKE by 1.4% in the 3rd 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 in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of NIKE by 19.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,209,868 shares of the footwear maker’s stock worth $637,352,000 after acquiring an additional 1,184,252 shares in the last quarter. Van ECK Associates Corp raised its position in shares of NIKE by 15.1% in the 3rd quarter. Van ECK Associates Corp now owns 4,885,672 shares of the footwear maker’s stock worth $431,893,000 after acquiring an additional 641,398 shares in the last quarter. Finally, Swiss National Bank raised its position in shares of NIKE by 0.3% in the 3rd quarter. Swiss National Bank now owns 3,595,800 shares of the footwear maker’s stock worth $317,869,000 after acquiring an additional 9,000 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on NKE shares. JPMorgan Chase & Co. reduced their price target on NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Bank of America dropped 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. UBS Group boosted their target price on NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Morgan Stanley boosted their target price 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, Royal Bank of Canada dropped their target price on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. Fourteen analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $95.86.

NIKE Stock Performance

NYSE NKE opened at $77.40 on Friday. The stock has a market capitalization of $116.05 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 1.82 and a beta of 1.03. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. 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 stock has a 50-day moving average of $80.51 and a 200 day moving average of $82.67.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The company had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. NIKE’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.94 EPS. Sell-side analysts anticipate that NIKE, Inc. will post 2.75 EPS for the current fiscal year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.07%. This is a boost from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio is presently 42.41%.

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.