Grandfield & Dodd LLC Buys 21,329 Shares of NIKE, Inc. (NYSE:NKE)

Grandfield & Dodd LLC increased its position in shares of NIKE, Inc. (NYSE:NKE) by 44.2% during the 3rd quarter, Holdings Channel reports. The fund owned 69,543 shares of the footwear maker’s stock after buying an additional 21,329 shares during the quarter. Grandfield & Dodd LLC’s holdings in NIKE were worth $6,148,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of NKE. Garrison Point Advisors LLC boosted its position in shares of NIKE by 1.9% during the third quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock worth $593,000 after purchasing an additional 126 shares in the last quarter. Stephens Consulting LLC raised its stake 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 buying an additional 128 shares during the period. PSI Advisors LLC lifted its holdings in NIKE by 26.3% during the third quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock worth $55,000 after acquiring an additional 130 shares in the last quarter. Chapin Davis Inc. grew its stake in NIKE by 1.2% in the third quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock valued at $1,010,000 after acquiring an additional 133 shares during the period. Finally, Meridian Financial Partners LLC increased its holdings in shares of NIKE by 1.6% in the third quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock worth $742,000 after acquiring an additional 133 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on NKE. Bank of America cut their price objective on NIKE from $104.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Royal Bank of Canada dropped their target price on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Telsey Advisory Group dropped their price objective on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. Finally, Barclays reduced their target price on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 2nd. Fourteen research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $96.30.

NIKE Stock Down 1.3 %

NIKE stock opened at $73.92 on Wednesday. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The firm has a market capitalization of $110.83 billion, a PE ratio of 21.18, a P/E/G ratio of 1.86 and a beta of 1.03. The company’s 50-day moving average is $80.71 and its 200-day moving average is $82.90. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58.

NIKE (NYSE:NKE) last released 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 firm 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% on a year-over-year basis. During the same period in the previous year, the company earned $0.94 earnings per share. Sell-side analysts anticipate that NIKE, Inc. will post 2.74 earnings per share for the current year.

NIKE Increases Dividend

The company also recently announced 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 is Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.16%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio (DPR) is 42.41%.

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.