Caprock Group LLC Reduces Stock Holdings in NIKE, Inc. (NYSE:NKE)

Caprock Group LLC reduced its holdings in NIKE, Inc. (NYSE:NKE) by 11.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,521 shares of the footwear maker’s stock after selling 2,569 shares during the period. Caprock Group LLC’s holdings in NIKE were worth $1,733,000 at the end of the most recent quarter.

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

NIKE Price Performance

Shares of NKE opened at $73.33 on Thursday. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The stock has a market cap of $109.95 billion, a PE ratio of 21.01, a P/E/G ratio of 1.86 and a beta of 1.03. The firm has a 50-day simple moving average of $80.61 and a two-hundred day simple moving average of $82.83. 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 results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share 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 business had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. During the same period last year, the business earned $0.94 earnings per share. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. As a group, analysts forecast that NIKE, Inc. will post 2.74 EPS 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 $0.40 dividend. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.18%. NIKE’s dividend payout ratio (DPR) is presently 45.85%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on NKE shares. JPMorgan Chase & Co. lowered their price target on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Robert W. Baird increased their price target on shares of NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Daiwa America downgraded shares of NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Guggenheim decreased their price objective on shares of NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Finally, Wells Fargo & Company increased their price objective on shares of NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $96.30.

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.