Coston McIsaac & Partners Increases Holdings in NIKE, Inc. (NYSE:NKE)

Coston McIsaac & Partners grew its holdings in shares of NIKE, Inc. (NYSE:NKE) by 1,218.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,698 shares of the footwear maker’s stock after buying an additional 55,170 shares during the quarter. NIKE accounts for approximately 1.5% of Coston McIsaac & Partners’ holdings, making the stock its 27th biggest holding. Coston McIsaac & Partners’ holdings in NIKE were worth $5,277,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in NKE. Longview Partners Guernsey LTD purchased a new stake in shares of NIKE during the 1st quarter valued at about $533,533,000. Capital World Investors raised its position in shares of NIKE by 612.2% during the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after buying an additional 4,457,376 shares in the last quarter. Jennison Associates LLC raised its position in shares of NIKE by 45.6% during the 1st quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock valued at $832,623,000 after buying an additional 2,775,510 shares in the last quarter. PineStone Asset Management Inc. raised its position in shares of NIKE by 138.3% during the 2nd quarter. PineStone Asset Management Inc. now owns 2,715,689 shares of the footwear maker’s stock valued at $204,681,000 after buying an additional 1,576,049 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of NIKE by 351.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock valued at $150,101,000 after buying an additional 1,550,611 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Citigroup reduced their price objective on shares of NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Jefferies Financial Group increased their price objective on shares of NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Monday, September 30th. Wedbush reduced their price objective on shares of NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Finally, Guggenheim reduced their price objective on shares of NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, NIKE has an average rating of “Moderate Buy” and a consensus target price of $96.56.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.50% of the company’s stock.

NIKE Stock Down 1.1 %

Shares of NYSE NKE traded down $0.90 during midday trading on Wednesday, reaching $80.52. 1,821,305 shares of the company’s stock traded hands, compared to its average volume of 11,612,059. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The stock’s 50 day simple moving average is $82.83 and its 200-day simple moving average is $85.14. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The company has a market cap of $121.53 billion, a price-to-earnings ratio of 21.83, a P/E/G ratio of 1.96 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its 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. 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 analysts’ expectations of $11.64 billion. During the same quarter in the prior year, the company posted $0.94 earnings per share. NIKE’s revenue for the quarter was down 10.4% compared to the same quarter last year. On average, analysts predict that NIKE, Inc. will post 2.8 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were issued a $0.37 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.84%. NIKE’s dividend payout ratio is currently 39.68%.

NIKE Company 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.