NIKE, Inc. (NYSE:NKE) Stock Position Decreased by NCM Capital Management LLC

NCM Capital Management LLC trimmed its position in shares of NIKE, Inc. (NYSE:NKE) by 1.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,285 shares of the footwear maker’s stock after selling 200 shares during the quarter. NCM Capital Management LLC’s holdings in NIKE were worth $998,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. ING Groep NV bought a new stake in NIKE in the third quarter worth approximately $29,628,000. Cordatus Wealth Management LLC boosted its holdings in NIKE by 19.5% in the third quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker’s stock worth $3,669,000 after purchasing an additional 6,778 shares in the last quarter. Bristlecone Advisors LLC increased its position in NIKE by 14.3% during the third quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock worth $8,267,000 after buying an additional 11,665 shares during the last quarter. Lazard Freres Gestion S.A.S. raised its holdings in NIKE by 23.2% during the third quarter. Lazard Freres Gestion S.A.S. now owns 747,675 shares of the footwear maker’s stock valued at $66,094,000 after buying an additional 140,632 shares in the last quarter. Finally, D.A. Davidson & CO. lifted its position in shares of NIKE by 11.8% in the third quarter. D.A. Davidson & CO. now owns 104,951 shares of the footwear maker’s stock worth $9,278,000 after buying an additional 11,108 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on NKE shares. UBS Group raised their price objective on NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Robert W. Baird lifted their price target on shares of NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Royal Bank of Canada lowered their target price 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. Deutsche Bank Aktiengesellschaft cut their target price on shares of NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Finally, Sanford C. Bernstein lowered their price target on NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research report on Thursday, September 19th. Fourteen investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $95.86.

NIKE Price Performance

Shares of NKE stock opened at $78.77 on Friday. The stock’s fifty day simple moving average is $80.18 and its 200 day simple moving average is $82.17. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The firm has a market cap of $118.10 billion, a price-to-earnings ratio of 22.57, a P/E/G ratio of 1.90 and a beta of 1.03. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58.

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

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.03%. NIKE’s dividend payout ratio (DPR) is 45.85%.

About NIKE

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.