Bank of Hawaii Purchases 3,626 Shares of NIKE, Inc. (NYSE:NKE)

Bank of Hawaii increased its position in NIKE, Inc. (NYSE:NKE) by 69.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 8,876 shares of the footwear maker’s stock after purchasing an additional 3,626 shares during the period. Bank of Hawaii’s holdings in NIKE were worth $785,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. VitalStone Financial LLC grew its position in shares of NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after buying an additional 150 shares during the last quarter. Bruce G. Allen Investments LLC increased its position in NIKE by 272.5% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after purchasing an additional 376 shares during the period. Triad Wealth Partners LLC bought a new position in NIKE in the 2nd quarter worth $44,000. Riverview Trust Co bought a new position in NIKE in the 3rd quarter worth $52,000. Finally, Beacon Capital Management LLC lifted its position in shares of NIKE by 111.2% in the 1st quarter. Beacon Capital Management LLC now owns 604 shares of the footwear maker’s stock worth $57,000 after purchasing an additional 318 shares during the period. 64.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NKE. JPMorgan Chase & Co. reduced their price target on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft decreased their target price on NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Bank of America lowered their target price on NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Barclays reduced their price target on NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 2nd. Finally, Robert W. Baird raised their price objective on NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Fourteen investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $95.86.

NIKE Stock Performance

NKE stock opened at $79.26 on Tuesday. The company has a market cap of $118.84 billion, a P/E ratio of 22.71, a price-to-earnings-growth ratio of 1.88 and a beta of 1.03. 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 stock’s fifty day moving average price is $80.50 and its 200-day moving average price is $82.42.

NIKE (NYSE:NKE) last announced 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 return on equity of 39.84% and a net margin of 10.60%. The business had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. During the same period last year, the firm posted $0.94 earnings per share. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. On average, equities analysts forecast that NIKE, Inc. will post 2.75 earnings per share for the current year.

NIKE Increases Dividend

The firm 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. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Monday, December 2nd. NIKE’s dividend payout ratio is currently 45.85%.

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.