iA Global Asset Management Inc. Reduces Stock Position in NIKE, Inc. (NYSE:NKE)

iA Global Asset Management Inc. cut its stake in NIKE, Inc. (NYSE:NKE) by 96.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 29,424 shares of the footwear maker’s stock after selling 852,735 shares during the quarter. iA Global Asset Management Inc.’s holdings in NIKE were worth $2,601,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Garrison Point Advisors LLC grew its holdings in NIKE by 1.9% during the 3rd quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock valued at $593,000 after buying an additional 126 shares in the last quarter. Stephens Consulting LLC increased its holdings in NIKE by 20.0% during the 3rd quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock worth $68,000 after acquiring an additional 128 shares during the period. PSI Advisors LLC lifted its stake in NIKE by 26.3% in the 3rd quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock worth $55,000 after purchasing an additional 130 shares in the last quarter. Chapin Davis Inc. boosted its holdings in NIKE by 1.2% in the 3rd quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock valued at $1,010,000 after purchasing an additional 133 shares during the period. Finally, Meridian Financial Partners LLC grew its position in shares of NIKE by 1.6% during the 3rd quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock valued at $742,000 after purchasing an additional 133 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on NKE shares. Wells Fargo & Company lifted their price objective on NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Williams Trading upgraded NIKE from a “sell” rating to a “buy” rating and lifted their price target for the company from $67.00 to $93.00 in a research report on Friday, August 16th. Sanford C. Bernstein decreased their price objective on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research report on Thursday, September 19th. Jefferies Financial Group lifted their target price on shares of NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Monday, September 30th. Finally, UBS Group increased their price target on shares of NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Fourteen equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and an average price target of $95.54.

NIKE Trading Up 0.4 %

NIKE stock opened at $78.89 on Monday. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The company has a market capitalization of $118.28 billion, a price-to-earnings ratio of 22.60, a price-to-earnings-growth ratio of 1.93 and a beta of 1.02. The business’s fifty day simple moving average is $79.25 and its two-hundred day simple moving average is $81.55. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.52 by $0.18. The company 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%. NIKE’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.94 EPS. As a group, equities analysts predict that NIKE, Inc. will post 2.73 earnings per share for the current fiscal year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a $0.40 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.03%. NIKE’s dividend payout ratio 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.