Teachers Insurance & Annuity Association of America Acquires New Shares in NIKE, Inc. (NYSE:NKE)

Teachers Insurance & Annuity Association of America purchased a new position in shares of NIKE, Inc. (NYSE:NKE) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 340 shares of the footwear maker’s stock, valued at approximately $30,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Public Sector Pension Investment Board increased its stake in shares of NIKE by 9.7% during the 3rd quarter. Public Sector Pension Investment Board now owns 51,000 shares of the footwear maker’s stock worth $4,508,000 after purchasing an additional 4,500 shares in the last quarter. Noesis Capital Mangement Corp grew its holdings in NIKE by 6.2% during the 3rd quarter. Noesis Capital Mangement Corp now owns 132,238 shares of the footwear maker’s stock valued at $11,690,000 after buying an additional 7,749 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in NIKE by 4.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 548,318 shares of the footwear maker’s stock worth $48,471,000 after buying an additional 24,614 shares in the last quarter. Providence Capital Advisors LLC raised its holdings in shares of NIKE by 29.3% in the third quarter. Providence Capital Advisors LLC now owns 78,784 shares of the footwear maker’s stock worth $6,965,000 after acquiring an additional 17,871 shares during the last quarter. Finally, CreativeOne Wealth LLC lifted its position in shares of NIKE by 13.5% in the third quarter. CreativeOne Wealth LLC now owns 21,978 shares of the footwear maker’s stock valued at $1,943,000 after acquiring an additional 2,612 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NKE has been the subject of a number of recent research reports. Telsey Advisory Group dropped their price objective on NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Daiwa America downgraded shares of NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Stifel Nicolaus reduced their price objective on shares of NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a research note on Monday, August 26th. Barclays lowered 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 note on Wednesday, October 2nd. Finally, Bank of America reduced their price target on NIKE from $104.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Fourteen equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $95.86.

NIKE Stock Up 0.9 %

Shares of NYSE:NKE traded up $0.73 during trading on Thursday, hitting $78.34. The company’s stock had a trading volume of 8,713,504 shares, compared to its average volume of 11,515,025. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The stock’s 50-day moving average price is $80.39 and its two-hundred day moving average price is $82.29. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The company has a market capitalization of $117.46 billion, a PE ratio of 22.44, a PEG ratio of 1.92 and a beta of 1.03.

NIKE (NYSE:NKE) last released 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. The business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.94 earnings per share. As a group, sell-side analysts expect that NIKE, Inc. will post 2.75 EPS for the current year.

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Monday, December 2nd. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio is 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.