Pacer Advisors Inc. Purchases 3,464 Shares of NIKE, Inc. (NYSE:NKE)

Pacer Advisors Inc. raised its position in shares of NIKE, Inc. (NYSE:NKE) by 3.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 111,285 shares of the footwear maker’s stock after purchasing an additional 3,464 shares during the quarter. Pacer Advisors Inc.’s holdings in NIKE were worth $9,838,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NKE. Legal & General Group Plc lifted its stake in shares of NIKE by 5.5% during 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 in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of NIKE by 19.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,209,868 shares of the footwear maker’s stock valued at $637,352,000 after acquiring an additional 1,184,252 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of NIKE by 15.1% in the third 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 during the period. Swiss National Bank grew its position in shares of NIKE by 0.3% during the third quarter. Swiss National Bank now owns 3,595,800 shares of the footwear maker’s stock worth $317,869,000 after purchasing an additional 9,000 shares in the last quarter. Finally, Vontobel Holding Ltd. grew its position in shares of NIKE by 25.5% during the third quarter. Vontobel Holding Ltd. now owns 3,442,216 shares of the footwear maker’s stock worth $304,292,000 after purchasing an additional 699,642 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Trading Up 3.1 %

Shares of NYSE NKE opened at $77.40 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 quick ratio of 1.58 and a current ratio of 2.36. The company has a market cap of $116.05 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 1.82 and a beta of 1.03. The business’s 50 day moving average price is $80.51 and its 200-day moving average price is $82.59.

NIKE (NYSE:NKE) last released its 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 business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business’s revenue was down 10.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.94 earnings per share. On average, sell-side analysts expect that NIKE, Inc. will post 2.75 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. Investors of record on Monday, December 2nd will be paid a $0.40 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.60 annualized dividend and a yield of 2.07%. This is a boost from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio is 42.41%.

Analyst Upgrades and Downgrades

NKE has been the subject of several recent analyst reports. Morgan Stanley upped their price target on NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Telsey Advisory Group dropped their target price on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Guggenheim reduced their price target on shares of NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Finally, Evercore ISI reduced their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. Fourteen research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $95.86.

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.