Pathstone Holdings LLC Sells 11,736 Shares of NIKE, Inc. (NYSE:NKE)

Pathstone Holdings LLC lowered its holdings in shares of NIKE, Inc. (NYSE:NKE) by 5.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 205,590 shares of the footwear maker’s stock after selling 11,736 shares during the period. Pathstone Holdings LLC’s holdings in NIKE were worth $18,192,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Transcendent Capital Group LLC raised its position in NIKE by 97.6% during the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 200 shares during the last quarter. VitalStone Financial LLC increased its stake in shares of NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after buying an additional 150 shares during the period. Bruce G. Allen Investments LLC raised its position in shares of NIKE by 272.5% during the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after acquiring an additional 376 shares during the last quarter. Triad Wealth Partners LLC acquired a new position in shares of NIKE in the second quarter worth approximately $44,000. Finally, MFA Wealth Advisors LLC bought a new stake in NIKE in the second quarter valued at approximately $46,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

NKE has been the subject of several analyst reports. UBS Group raised their price target on shares of NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft dropped their target price on shares of NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Stifel Nicolaus decreased their price target on NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a report on Monday, August 26th. Morgan Stanley boosted their price objective on NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Finally, Telsey Advisory Group cut their target price on NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. Fourteen research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $96.30.

NIKE Trading Down 1.3 %

Shares of NIKE stock opened at $73.92 on Wednesday. The company has a market capitalization of $110.83 billion, a P/E ratio of 21.18, a price-to-earnings-growth ratio of 1.86 and a beta of 1.03. The stock has a fifty day simple moving average of $80.71 and a 200 day simple moving average of $82.90. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. During the same quarter in the prior year, the business posted $0.94 EPS. The business’s revenue was down 10.4% compared to the same quarter last year. On average, sell-side analysts anticipate that NIKE, Inc. will post 2.74 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company also recently disclosed 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. 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 yield of 2.16%. 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.