2,437 Shares in NIKE, Inc. (NYSE:NKE) Purchased by Red Wave Investments LLC

Red Wave Investments LLC bought a new stake in NIKE, Inc. (NYSE:NKE) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,437 shares of the footwear maker’s stock, valued at approximately $215,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. ING Groep NV acquired a new stake in shares of NIKE in the third quarter valued at approximately $29,628,000. Cordatus Wealth Management LLC raised its stake in shares of NIKE by 19.5% in the 3rd quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker’s stock valued at $3,669,000 after acquiring an additional 6,778 shares during the period. Bristlecone Advisors LLC raised its stake in shares of NIKE by 14.3% in the 3rd quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock valued at $8,267,000 after acquiring an additional 11,665 shares during the period. Investment Management Corp of Ontario raised its stake in shares of NIKE by 49.4% in the 3rd 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. Finally, Lazard Freres Gestion S.A.S. raised its stake in shares of NIKE by 23.2% in the 3rd quarter. Lazard Freres Gestion S.A.S. now owns 747,675 shares of the footwear maker’s stock valued at $66,094,000 after acquiring an additional 140,632 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on NKE. Sanford C. Bernstein dropped their price target on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research note on Thursday, September 19th. Barclays decreased their price target on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a report on Wednesday, October 2nd. TD Cowen decreased their price target on shares of NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a report on Monday, November 18th. Guggenheim reduced their target price on shares of NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Finally, Morgan Stanley boosted their target price on shares of NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Fourteen equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and a consensus price target of $95.71.

NIKE Stock Down 0.6 %

NKE stock opened at $78.37 on Thursday. The company’s 50 day simple moving average is $79.67 and its 200-day simple moving average is $81.82. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The firm has a market capitalization of $117.50 billion, a P/E ratio of 22.46, a P/E/G ratio of 1.92 and a beta of 1.02. 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 announced its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates 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 firm’s revenue was down 10.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.94 earnings per share. As a group, equities research analysts anticipate that NIKE, Inc. will post 2.74 EPS for the current 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 given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.04%. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, December 2nd. NIKE’s payout ratio 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.