Victory Capital Management Inc. Grows Position in NIKE, Inc. (NYSE:NKE)

Victory Capital Management Inc. raised its stake in NIKE, Inc. (NYSE:NKE) by 5.2% in the third quarter, HoldingsChannel.com reports. The fund owned 748,386 shares of the footwear maker’s stock after purchasing an additional 37,035 shares during the quarter. Victory Capital Management Inc.’s holdings in NIKE were worth $66,157,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in NKE. Orion Portfolio Solutions LLC raised its holdings in shares of NIKE by 14.0% in the 1st quarter. Orion Portfolio Solutions LLC now owns 73,071 shares of the footwear maker’s stock worth $6,867,000 after purchasing an additional 8,947 shares during the period. Dorsey & Whitney Trust CO LLC lifted its position in NIKE by 24.0% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 11,308 shares of the footwear maker’s stock valued at $1,063,000 after buying an additional 2,187 shares in the last quarter. Great Lakes Retirement Inc. grew its stake in NIKE by 6.5% during the first quarter. Great Lakes Retirement Inc. now owns 10,157 shares of the footwear maker’s stock worth $955,000 after buying an additional 621 shares during the period. M&G Plc purchased a new stake in NIKE during the first quarter worth approximately $10,109,000. Finally, Pinkerton Retirement Specialists LLC increased its position in shares of NIKE by 3.0% in the first quarter. Pinkerton Retirement Specialists LLC now owns 14,886 shares of the footwear maker’s stock worth $1,399,000 after acquiring an additional 432 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Trading Down 1.1 %

Shares of NYSE:NKE opened at $75.67 on Friday. The firm has a market cap of $113.46 billion, a price-to-earnings ratio of 21.68, a PEG ratio of 1.86 and a beta of 1.03. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The company’s fifty day simple moving average is $81.07 and its 200 day simple moving average is $83.44. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.18. The company had revenue of $11.59 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the business earned $0.94 EPS. As a group, research analysts forecast that NIKE, Inc. will post 2.74 EPS for the current fiscal year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a $0.40 dividend. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.11%. NIKE’s dividend payout ratio (DPR) is currently 42.41%.

Analysts Set New Price Targets

Several analysts recently issued reports on NKE shares. Guggenheim lowered their price target on NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. TD Cowen raised their target price on NIKE from $71.00 to $78.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Jefferies Financial Group upped their price target on NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Monday, September 30th. Daiwa America lowered shares of NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Finally, Royal Bank of Canada decreased their target price on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research note on Thursday, November 7th. Fourteen analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $96.48.

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.