Holocene Advisors LP Invests $148.64 Million in NIKE, Inc. (NYSE:NKE)

Holocene Advisors LP acquired a new stake in NIKE, Inc. (NYSE:NKE) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,681,386 shares of the footwear maker’s stock, valued at approximately $148,635,000. Holocene Advisors LP owned 0.11% of NIKE as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Legal & General Group Plc grew its stake in 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 purchasing an additional 571,544 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in NIKE by 6.0% in the third quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock worth $910,801,000 after acquiring an additional 583,207 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of NIKE by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,602,534 shares of the footwear maker’s stock valued at $760,716,000 after purchasing an additional 117,187 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of NIKE by 19.7% during 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 purchasing an additional 1,184,252 shares during the period. Finally, Loomis Sayles & Co. L P lifted its holdings in shares of NIKE by 1,209,638.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock worth $575,342,000 after purchasing an additional 6,507,856 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Trading Down 0.4 %

Shares of NYSE NKE opened at $78.48 on Monday. The business has a 50 day simple moving average of $80.18 and a 200 day simple moving average of $82.03. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The stock has a market cap of $117.67 billion, a price-to-earnings ratio of 22.57, a PEG ratio of 1.91 and a beta of 1.03. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36.

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

NIKE Increases Dividend

The company also recently declared 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. This represents a $1.60 dividend on an annualized basis and a yield of 2.04%. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, December 2nd. NIKE’s dividend payout ratio is 42.41%.

Analysts Set New Price Targets

NKE has been the topic of several analyst reports. 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 report on Wednesday, October 2nd. Needham & Company LLC assumed coverage on NIKE in a research note on Friday, November 22nd. They issued a “buy” rating and a $84.00 price objective on the stock. Sanford C. Bernstein decreased their target price on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research note on Thursday, September 19th. Wells Fargo & Company lifted their target price on NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Finally, Daiwa America lowered shares of NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Fourteen investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and an average price target of $95.86.

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.