NIKE, Inc. (NYSE:NKE) Stock Position Lessened by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. decreased its holdings in NIKE, Inc. (NYSE:NKE) by 8.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,434,840 shares of the footwear maker’s stock after selling 126,302 shares during the quarter. PNC Financial Services Group Inc. owned 0.10% of NIKE worth $126,840,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of NKE. Transcendent Capital Group LLC boosted its stake in NIKE by 97.6% during the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after buying an additional 200 shares in the last quarter. VitalStone Financial LLC boosted its stake in NIKE by 52.6% during 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 in the last quarter. Bruce G. Allen Investments LLC boosted its stake in NIKE by 272.5% during the second 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 in the last quarter. Triad Wealth Partners LLC bought a new position in NIKE during the second quarter valued at about $44,000. Finally, MFA Wealth Advisors LLC bought a new position in NIKE during the second quarter valued at about $46,000. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

Shares of NKE stock opened at $73.92 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 firm has a market cap of $110.83 billion, a P/E ratio of 21.18, a PEG ratio of 1.86 and a beta of 1.03. The stock’s 50-day moving average is $80.71 and its two-hundred day moving average is $82.90. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39.

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

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.40 per share. 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 dividend on an annualized basis and a dividend yield of 2.16%. NIKE’s dividend payout ratio is currently 42.41%.

Analyst Ratings Changes

Several equities research analysts have recently commented on NKE shares. Daiwa America downgraded NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Stifel Nicolaus reduced their target price on NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a report on Monday, August 26th. Barclays reduced their target price on NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a report on Wednesday, October 2nd. Jefferies Financial Group upped their target price on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a report on Monday, September 30th. Finally, JPMorgan Chase & Co. reduced their target price on NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and a consensus price target of $96.30.

NIKE Company 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.