LRI Investments LLC Sells 216 Shares of NIKE, Inc. (NYSE:NKE)

LRI Investments LLC decreased its position in shares of NIKE, Inc. (NYSE:NKE) by 3.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 6,158 shares of the footwear maker’s stock after selling 216 shares during the quarter. LRI Investments LLC’s holdings in NIKE were worth $544,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. ING Groep NV bought a new position in NIKE during the 3rd quarter worth $29,628,000. Cordatus Wealth Management LLC increased its position in NIKE by 19.5% during the 3rd quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker’s stock worth $3,669,000 after buying an additional 6,778 shares during the period. Bristlecone Advisors LLC increased its position in NIKE by 14.3% during the 3rd quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock worth $8,267,000 after buying an additional 11,665 shares during the period. Investment Management Corp of Ontario increased its position in NIKE by 49.4% during the 3rd quarter. Investment Management Corp of Ontario now owns 40,238 shares of the footwear maker’s stock worth $3,557,000 after buying an additional 13,300 shares during the period. Finally, Lazard Freres Gestion S.A.S. increased its position in NIKE by 23.2% during the 3rd quarter. Lazard Freres Gestion S.A.S. now owns 747,675 shares of the footwear maker’s stock worth $66,094,000 after buying an additional 140,632 shares during the period. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

Shares of NKE stock opened at $77.67 on Tuesday. The business’s 50-day moving average price is $79.03 and its 200-day moving average price is $81.46. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The firm has a market capitalization of $116.46 billion, a price-to-earnings ratio of 22.26, a PEG ratio of 1.93 and a beta of 1.02. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same period last year, the company earned $0.94 earnings per share. The firm’s revenue was down 10.4% compared to the same quarter last year. Equities research analysts forecast that NIKE, Inc. will post 2.73 EPS for the current year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.06%. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is 45.85%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on NKE shares. Guggenheim reduced their target price on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Stifel Nicolaus reduced their target price on NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a report on Monday, August 26th. TD Cowen reduced their target price on NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, November 18th. Sanford C. Bernstein reduced their target price on NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a report on Thursday, September 19th. Finally, Daiwa America lowered NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Fourteen research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, NIKE has an average rating of “Moderate Buy” and an average price target of $95.54.

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.