Avior Wealth Management LLC Buys 5,220 Shares of NIKE, Inc. (NYSE:NKE)

by · The Markets Daily

Avior Wealth Management LLC lifted its stake in shares of NIKE, Inc. (NYSE:NKE – Free Report) by 18.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,037 shares of the footwear maker’s stock after purchasing an additional 5,220 shares during the quarter. Avior Wealth Management LLC’s holdings in NIKE were worth $3,009,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. ING Groep NV acquired a new position in shares of NIKE in the third quarter valued at approximately $29,628,000. Cordatus Wealth Management LLC increased its position in 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% during the third 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 last quarter. WoodTrust Financial Corp lifted its holdings in shares of NIKE by 19.9% during the third quarter. WoodTrust Financial Corp now owns 98,289 shares of the footwear maker’s stock worth $8,689,000 after purchasing an additional 16,303 shares during the period. Finally, Farmers & Merchants Investments Inc. grew its stake in shares of NIKE by 44.8% in the third quarter. Farmers & Merchants Investments Inc. now owns 194,101 shares of the footwear maker’s stock worth $17,159,000 after purchasing an additional 60,008 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Down 1.3 %

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

NIKE (NYSE:NKE – Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.94 EPS. As a group, equities analysts predict that NIKE, Inc. will post 2.74 EPS for the current year.

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.60 annualized dividend and a yield of 2.16%. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio (DPR) is currently 42.41%.

Analyst Ratings Changes

Several brokerages have commented on NKE. Evercore ISI cut their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. Royal Bank of Canada reduced their target price on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a report on Thursday, November 7th. Sanford C. Bernstein lowered their price target on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a report on Thursday, September 19th. JPMorgan Chase & Co. reduced their price objective on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd. Finally, Jefferies Financial Group boosted their target price on shares of NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a report on Monday, September 30th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $96.30.

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NIKE Company Profile

(Free Report)

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.

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