NIKE, Inc. (NYSE:NKE) Shares Purchased by Investment Management Corp of Ontario

Investment Management Corp of Ontario raised its position in NIKE, Inc. (NYSE:NKE) by 49.4% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 40,238 shares of the footwear maker’s stock after buying an additional 13,300 shares during the quarter. Investment Management Corp of Ontario’s holdings in NIKE were worth $3,557,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Teachers Insurance & Annuity Association of America purchased a new stake in NIKE in the 3rd quarter valued at approximately $30,000. VitalStone Financial LLC lifted its stake in NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after buying an additional 150 shares in the last quarter. Bruce G. Allen Investments LLC grew its holdings in NIKE by 272.5% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after buying 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 $44,000. Finally, MFA Wealth Advisors LLC acquired a new position in shares of NIKE in the second quarter worth $46,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on NKE shares. Telsey Advisory Group cut their price objective on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. UBS Group boosted their price target on NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft decreased their price objective on NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Stifel Nicolaus dropped their target price on NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research note on Monday, August 26th. Finally, Wells Fargo & Company raised their price target on NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Fourteen analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $95.71.

NIKE Stock Performance

Shares of NKE stock opened at $78.86 on Wednesday. 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 company’s fifty day moving average price is $79.87 and its two-hundred day moving average price is $81.84. The firm has a market capitalization of $118.24 billion, a P/E ratio of 22.60, a P/E/G ratio of 1.92 and a beta of 1.02. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39.

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

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a dividend of $0.40 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.03%. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio (DPR) is presently 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.