Knuff & Co LLC Decreases Stock Position in NIKE, Inc. (NYSE:NKE)

Knuff & Co LLC decreased its position in shares of NIKE, Inc. (NYSE:NKE) by 1.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,527 shares of the footwear maker’s stock after selling 275 shares during the period. Knuff & Co LLC’s holdings in NIKE were worth $2,168,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Transcendent Capital Group LLC grew its holdings in NIKE by 97.6% during the 1st 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 grew its holdings in shares of NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 150 shares in the last quarter. Bruce G. Allen Investments LLC increased its position in NIKE by 272.5% in the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after purchasing an additional 376 shares during the last quarter. Triad Wealth Partners LLC bought a new stake in NIKE in the second quarter worth $44,000. Finally, MFA Wealth Advisors LLC purchased a new stake in NIKE during the second quarter valued at $46,000. 64.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Robert W. Baird boosted their price objective on NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. UBS Group raised their price objective on NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Barclays cut their target price on NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 2nd. Finally, Stifel Nicolaus lowered their price target on NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research report on Monday, August 26th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $96.30.

NIKE Stock Performance

NKE stock opened at $74.86 on Tuesday. 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 1-year low of $70.75 and a 1-year high of $123.39. The business has a 50-day moving average price of $80.79 and a 200 day moving average price of $83.03. The company has a market capitalization of $112.24 billion, a P/E ratio of 21.45, a PEG ratio of 1.86 and a beta of 1.03.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 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 business had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. During the same quarter in the previous year, the business posted $0.94 EPS. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. As a group, equities research analysts forecast that NIKE, Inc. will post 2.74 EPS for the current fiscal year.

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.40 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.14%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio is currently 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.