United Services Automobile Association Has $2.56 Million Stake in NIKE, Inc. (NYSE:NKE)

United Services Automobile Association trimmed its position in shares of NIKE, Inc. (NYSE:NKE) by 18.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,916 shares of the footwear maker’s stock after selling 6,714 shares during the period. United Services Automobile Association’s holdings in NIKE were worth $2,556,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. State Street Corp increased its holdings in NIKE by 3.3% during the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock worth $5,140,796,000 after buying an additional 1,862,021 shares during the last quarter. Wellington Management Group LLP increased its holdings in NIKE by 5.1% during the third quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock worth $2,425,886,000 after buying an additional 1,343,093 shares during the last quarter. Legal & General Group Plc increased its holdings in NIKE by 5.5% during the second quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock worth $832,785,000 after buying an additional 571,544 shares during the last quarter. Fisher Asset Management LLC increased its holdings in NIKE by 6.0% during the third quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock worth $910,801,000 after buying an additional 583,207 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in 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 worth $760,716,000 after buying an additional 117,187 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Up 0.4 %

Shares of NYSE NKE opened at $78.89 on Friday. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. 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, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The stock has a 50-day moving average price of $79.25 and a two-hundred day moving average price of $81.63.

NIKE (NYSE:NKE) last issued 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. The firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business’s quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.94 earnings per share. As a group, analysts forecast that NIKE, Inc. will post 2.73 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. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.40 per share. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.60 annualized dividend and a yield of 2.03%. NIKE’s payout ratio is presently 45.85%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on NKE shares. JPMorgan Chase & Co. reduced their price objective on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research report on Monday, December 2nd. Morgan Stanley lifted their price objective on shares of NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Guggenheim reduced their price objective on shares of NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. UBS Group lifted their price objective on shares of NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Finally, Needham & Company LLC started coverage on shares of NIKE in a research report on Friday, November 22nd. They set a “buy” rating and a $84.00 price objective for the company. Fourteen investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $95.54.

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.