NIKE, Inc. (NYSE:NKE) Shares Acquired by Providence Capital Advisors LLC

Providence Capital Advisors LLC boosted its stake in NIKE, Inc. (NYSE:NKE) by 29.3% in the 3rd quarter, Holdings Channel reports. The firm owned 78,784 shares of the footwear maker’s stock after buying an additional 17,871 shares during the quarter. NIKE accounts for approximately 1.4% of Providence Capital Advisors LLC’s portfolio, making the stock its 22nd biggest position. Providence Capital Advisors LLC’s holdings in NIKE were worth $6,965,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. LRI Investments LLC acquired a new position in shares of NIKE during the first quarter valued at approximately $129,000. Swedbank AB acquired a new stake in shares of NIKE during the 1st quarter valued at $93,357,000. Atria Investments Inc boosted its stake in shares of NIKE by 10.5% during the 1st quarter. Atria Investments Inc now owns 125,774 shares of the footwear maker’s stock valued at $11,840,000 after buying an additional 11,999 shares during the period. Community Trust & Investment Co. boosted its stake in shares of NIKE by 69.0% during the 1st quarter. Community Trust & Investment Co. now owns 142,396 shares of the footwear maker’s stock valued at $13,382,000 after buying an additional 58,132 shares during the period. Finally, Invst LLC raised its holdings in shares of NIKE by 38.4% during the 1st quarter. Invst LLC now owns 17,425 shares of the footwear maker’s stock valued at $1,613,000 after purchasing an additional 4,835 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on NKE shares. Bank of America decreased their price target on shares of NIKE from $104.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Robert W. Baird boosted their target price on shares of NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Evercore ISI dropped their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Telsey Advisory Group dropped their price target on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Finally, Sanford C. Bernstein dropped their price target 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 investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE has an average rating of “Moderate Buy” and a consensus price target of $95.86.

NIKE Trading Up 0.9 %

NKE stock opened at $78.31 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The company has a market capitalization of $117.41 billion, a PE ratio of 22.44, a price-to-earnings-growth ratio of 1.92 and a beta of 1.03. The company’s 50 day moving average price is $80.39 and its two-hundred day moving average price is $82.29.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $11.64 billion. During the same quarter last year, the business earned $0.94 earnings per share. The business’s revenue was down 10.4% on a year-over-year basis. As a group, analysts predict that NIKE, Inc. will post 2.75 earnings per share for the current fiscal year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.60 annualized dividend and a yield of 2.04%. This is a boost from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is 42.41%.

NIKE 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.