Moors & Cabot Inc. Purchases 2,854 Shares of NIKE, Inc. (NYSE:NKE)

Moors & Cabot Inc. increased its position in shares of NIKE, Inc. (NYSE:NKE) by 18.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,151 shares of the footwear maker’s stock after acquiring an additional 2,854 shares during the period. Moors & Cabot Inc.’s holdings in NIKE were worth $1,605,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NKE. EagleClaw Capital Managment LLC lifted its holdings in NIKE by 2.3% during the 3rd quarter. EagleClaw Capital Managment LLC now owns 324,624 shares of the footwear maker’s stock worth $28,697,000 after buying an additional 7,318 shares during the period. Grandfield & Dodd LLC lifted its holdings in NIKE by 44.2% during the 3rd quarter. Grandfield & Dodd LLC now owns 69,543 shares of the footwear maker’s stock worth $6,148,000 after buying an additional 21,329 shares during the period. Advisors Asset Management Inc. lifted its holdings in NIKE by 39.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 48,282 shares of the footwear maker’s stock worth $4,268,000 after buying an additional 13,689 shares during the period. NS Partners Ltd lifted its holdings in NIKE by 1.9% during the 3rd quarter. NS Partners Ltd now owns 237,982 shares of the footwear maker’s stock worth $21,038,000 after buying an additional 4,332 shares during the period. Finally, Kirtland Hills Capital Management LLC lifted its holdings in NIKE by 51.6% during the 3rd quarter. Kirtland Hills Capital Management LLC now owns 14,219 shares of the footwear maker’s stock worth $1,257,000 after buying an additional 4,838 shares during the period. Institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

NKE has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their price objective on NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. TD Cowen dropped their price target on NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research note on Monday. Royal Bank of Canada dropped their price target on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. Daiwa America lowered NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Finally, Stifel Nicolaus decreased their price objective on NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a report on Monday, August 26th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and a consensus price target of $96.30.

NIKE Stock Performance

Shares of NKE opened at $73.33 on Thursday. 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, Inc. has a one year low of $70.75 and a one year high of $123.39. The company has a 50-day simple moving average of $80.61 and a two-hundred day simple moving average of $82.83. The firm has a market capitalization of $109.95 billion, a PE ratio of 21.01, a price-to-earnings-growth ratio of 1.80 and a beta of 1.03.

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

NIKE Increases Dividend

The firm also recently announced 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 represents a $1.60 annualized dividend and a dividend yield of 2.18%. 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. NIKE’s dividend payout ratio (DPR) is presently 42.41%.

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.