Icon Wealth Advisors LLC Has $2.78 Million Stock Holdings in NIKE, Inc. (NYSE:NKE)

Icon Wealth Advisors LLC lifted its stake in shares of NIKE, Inc. (NYSE:NKE) by 293.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,495 shares of the footwear maker’s stock after purchasing an additional 23,492 shares during the quarter. Icon Wealth Advisors LLC’s holdings in NIKE were worth $2,784,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Transcendent Capital Group LLC boosted its holdings in NIKE by 97.6% in the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after acquiring an additional 200 shares in the last quarter. VitalStone Financial LLC lifted its holdings in shares of NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 150 shares in the last quarter. Bruce G. Allen Investments LLC grew its position in NIKE by 272.5% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after purchasing an additional 376 shares during the period. Triad Wealth Partners LLC bought a new stake in NIKE during the 2nd quarter valued at $44,000. Finally, MFA Wealth Advisors LLC acquired a new position in NIKE during the second quarter worth $46,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Trading Up 2.6 %

NYSE:NKE opened at $75.29 on Friday. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. The stock’s fifty day moving average price is $80.55 and its two-hundred day moving average price is $82.78. 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 has a market cap of $112.88 billion, a P/E ratio of 21.57, a P/E/G ratio of 1.80 and a beta of 1.03.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter last year, the company earned $0.94 EPS. The firm’s revenue was down 10.4% compared to the same quarter last year. As a group, analysts expect that NIKE, Inc. will post 2.74 EPS for the current year.

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.60 annualized dividend and a yield of 2.13%. This is a boost from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is currently 42.41%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Stifel Nicolaus lowered their target price on shares of NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a report on Monday, August 26th. Daiwa America downgraded NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. UBS Group lifted their target price on NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Robert W. Baird increased their price target on NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective 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. Fourteen equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and an average price target of $95.86.

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.