BCGM Wealth Management LLC Takes Position in NIKE, Inc. (NYSE:NKE)

BCGM Wealth Management LLC purchased a new position in shares of NIKE, Inc. (NYSE:NKE) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,436 shares of the footwear maker’s stock, valued at approximately $215,000.

Several other institutional investors and hedge funds also recently made changes to their positions in NKE. Longview Partners Guernsey LTD bought a new stake in NIKE during the 1st quarter worth approximately $533,533,000. Capital World Investors grew its stake in shares of NIKE by 612.2% in the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock worth $487,327,000 after purchasing an additional 4,457,376 shares during the last quarter. PineStone Asset Management Inc. increased its holdings in NIKE by 138.3% in the second quarter. PineStone Asset Management Inc. now owns 2,715,689 shares of the footwear maker’s stock valued at $204,681,000 after purchasing an additional 1,576,049 shares during the period. Renaissance Technologies LLC raised its position in NIKE by 351.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock worth $150,101,000 after purchasing an additional 1,550,611 shares during the last quarter. Finally, KBC Group NV lifted its holdings in NIKE by 145.2% during the 3rd quarter. KBC Group NV now owns 2,111,708 shares of the footwear maker’s stock worth $186,675,000 after buying an additional 1,250,380 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Up 1.3 %

NKE stock opened at $76.66 on Friday. The firm has a market capitalization of $114.94 billion, a PE ratio of 21.97, a P/E/G ratio of 1.86 and a beta of 1.03. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The stock’s 50 day moving average is $80.89 and its 200-day moving average is $83.20.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating the consensus estimate 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 business’s revenue was down 10.4% on a year-over-year basis. During the same period last year, the business earned $0.94 EPS. Sell-side analysts expect that NIKE, Inc. will post 2.74 EPS 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 given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.09%. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, December 2nd. NIKE’s dividend payout ratio is presently 42.41%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on NKE shares. 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 note on Friday, September 20th. Barclays decreased their target price on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 2nd. Wells Fargo & Company boosted their price target on shares of NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Evercore ISI decreased their price objective on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Finally, Sanford C. Bernstein lowered their target price on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research note on Thursday, September 19th. Fourteen analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $96.48.

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.