Benjamin Edwards Inc. Grows Stock Position in NIKE, Inc. (NYSE:NKE)

Benjamin Edwards Inc. increased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 3,520.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 106,146 shares of the footwear maker’s stock after purchasing an additional 103,214 shares during the quarter. Benjamin Edwards Inc.’s holdings in NIKE were worth $9,383,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Teachers Insurance & Annuity Association of America purchased a new position in shares of NIKE in the 3rd quarter worth about $30,000. VitalStone Financial LLC raised its holdings in shares of NIKE by 52.6% during 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 during the period. Bruce G. Allen Investments LLC raised its holdings in shares of 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 period. Triad Wealth Partners LLC acquired a new stake in NIKE during the 2nd quarter valued at approximately $44,000. Finally, MFA Wealth Advisors LLC acquired a new stake in NIKE during the 2nd quarter valued at approximately $46,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Price Performance

Shares of NYSE:NKE opened at $79.09 on Tuesday. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The business has a 50-day moving average of $80.18 and a two-hundred day moving average of $82.03. The stock has a market capitalization of $118.58 billion, a P/E ratio of 22.66, a P/E/G ratio of 1.91 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping 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 company had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. During the same quarter in the previous year, the firm earned $0.94 earnings per share. The business’s quarterly revenue was down 10.4% compared to the same quarter last year. On average, equities research analysts predict that NIKE, Inc. will post 2.75 EPS for the current fiscal year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is currently 42.41%.

Analysts Set New Price Targets

Several brokerages have recently commented on NKE. Evercore ISI decreased their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Guggenheim reduced their price objective on NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Robert W. Baird boosted their price objective on NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Daiwa America lowered NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Finally, Jefferies Financial Group lifted their target price on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research note on Monday, September 30th. Fourteen equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $95.71.

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.