Synovus Financial Corp Sells 10,170 Shares of NIKE, Inc. (NYSE:NKE)

Synovus Financial Corp decreased its position in shares of NIKE, Inc. (NYSE:NKE) by 11.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 80,301 shares of the footwear maker’s stock after selling 10,170 shares during the quarter. Synovus Financial Corp’s holdings in NIKE were worth $7,099,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Garrison Point Advisors LLC raised its stake in NIKE by 1.9% during the 3rd quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock worth $593,000 after acquiring an additional 126 shares during the period. Stephens Consulting LLC boosted its position in shares of NIKE by 20.0% in the third quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock worth $68,000 after purchasing an additional 128 shares during the period. PSI Advisors LLC increased its stake in shares of NIKE by 26.3% in the third 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. raised its position in shares of NIKE by 1.2% during 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 lifted its stake 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 buying an additional 133 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on NKE. Jefferies Financial Group raised their price target on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a report on Monday, September 30th. Robert W. Baird boosted their price target on NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Telsey Advisory Group cut their price objective on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. Needham & Company LLC began coverage on shares of NIKE in a report on Friday, November 22nd. They issued a “buy” rating and a $84.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and an average target price of $94.04.

NIKE Trading Down 0.9 %

NKE opened at $77.25 on Friday. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The company has a market capitalization of $115.83 billion, a P/E ratio of 22.13, a PEG ratio of 1.93 and a beta of 1.02. The stock’s fifty day moving average is $78.52 and its two-hundred day moving average is $81.21. 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 (NYSE:NKE) last released its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm 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 company posted $0.94 earnings per share. The firm’s quarterly revenue was down 10.4% on a year-over-year basis. Analysts forecast that NIKE, Inc. will post 2.73 earnings per share for the current year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.07%. NIKE’s dividend payout ratio (DPR) is currently 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.