Integrated Wealth Concepts LLC Sells 6,200 Shares of NIKE, Inc. (NYSE:NKE)

Integrated Wealth Concepts LLC lessened its holdings in shares of NIKE, Inc. (NYSE:NKE) by 26.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,348 shares of the footwear maker’s stock after selling 6,200 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in NIKE were worth $1,534,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Investment Management Corp of Ontario boosted its position in shares of NIKE by 49.4% in the third quarter. Investment Management Corp of Ontario now owns 40,238 shares of the footwear maker’s stock valued at $3,557,000 after acquiring an additional 13,300 shares during the period. Janus Henderson Group PLC boosted its position in shares of NIKE by 8.4% in the third quarter. Janus Henderson Group PLC now owns 5,617,551 shares of the footwear maker’s stock valued at $496,586,000 after acquiring an additional 437,148 shares during the period. Holocene Advisors LP bought a new position in shares of NIKE in the third quarter valued at approximately $148,635,000. Cinctive Capital Management LP boosted its position in shares of NIKE by 48.2% in the third quarter. Cinctive Capital Management LP now owns 42,578 shares of the footwear maker’s stock valued at $3,764,000 after acquiring an additional 13,856 shares during the period. Finally, Cladis Investment Advisory LLC boosted its position in shares of NIKE by 12.5% in the third quarter. Cladis Investment Advisory LLC now owns 8,927 shares of the footwear maker’s stock valued at $789,000 after acquiring an additional 995 shares during the period. Institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NKE shares. Wells Fargo & Company raised their price objective on shares of NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Bank of America cut their price objective on shares of NIKE from $100.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday. Daiwa America lowered shares of NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Needham & Company LLC assumed coverage on shares of NIKE in a research report on Friday, November 22nd. They set a “buy” rating and a $84.00 target price for the company. Finally, Evercore ISI dropped their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Fourteen research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $95.54.

NIKE Stock Up 0.4 %

Shares of NYSE NKE opened at $78.89 on Friday. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The firm’s fifty day moving average is $79.25 and its 200 day moving average is $81.63. The company has a market cap of $118.28 billion, a price-to-earnings ratio of 22.60, a PEG ratio of 1.91 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The business had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.94 EPS. On average, equities research analysts expect that NIKE, Inc. will post 2.73 earnings per share for the current 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 issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date is Monday, December 2nd. This is a boost from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is 45.85%.

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.