Quest Partners LLC Cuts Position in NIKE, Inc. (NYSE:NKE)

Quest Partners LLC reduced its position in NIKE, Inc. (NYSE:NKE) by 83.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,392 shares of the footwear maker’s stock after selling 6,881 shares during the period. Quest Partners LLC’s holdings in NIKE were worth $123,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Prudent Man Advisors LLC raised its stake in shares of NIKE by 42.0% in the 3rd quarter. Prudent Man Advisors LLC now owns 8,594 shares of the footwear maker’s stock valued at $760,000 after acquiring an additional 2,544 shares during the period. TrinityPoint Wealth LLC raised its stake in shares of NIKE by 9.2% during the third quarter. TrinityPoint Wealth LLC now owns 28,561 shares of the footwear maker’s stock valued at $2,525,000 after purchasing an additional 2,408 shares during the period. Swiss National Bank lifted its holdings in NIKE by 0.3% in the 3rd quarter. Swiss National Bank now owns 3,595,800 shares of the footwear maker’s stock worth $317,869,000 after buying an additional 9,000 shares in the last quarter. S&CO Inc. acquired a new position in shares of NIKE in the third quarter worth about $213,000. Finally, Thrivent Financial for Lutherans raised its position in shares of NIKE by 4.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 66,417 shares of the footwear maker’s stock valued at $5,875,000 after purchasing an additional 2,843 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on NKE shares. Robert W. Baird boosted their price objective on NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Daiwa America cut shares of NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Sanford C. Bernstein lowered their price target on NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a report on Thursday, September 19th. Needham & Company LLC began coverage on shares of NIKE in a research note on Friday, November 22nd. They set a “buy” rating and a $84.00 price objective on the stock. Finally, Wells Fargo & Company increased their price target on NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Fourteen equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and an average price target of $95.86.

NIKE Price Performance

NYSE NKE opened at $78.34 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The firm has a market capitalization of $117.46 billion, a price-to-earnings ratio of 22.45, a price-to-earnings-growth ratio of 1.92 and a beta of 1.03. The company has a 50 day simple moving average of $80.34 and a 200-day simple moving average of $82.27. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. During the same quarter last year, the business posted $0.94 EPS. The company’s revenue for the quarter was down 10.4% on a year-over-year basis. Equities research analysts predict that NIKE, Inc. will post 2.75 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company 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 is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.04%. The ex-dividend date is Monday, December 2nd. NIKE’s dividend payout ratio is presently 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.