Cape Cod Five Cents Savings Bank Sells 1,685 Shares of NIKE, Inc. (NYSE:NKE)

Cape Cod Five Cents Savings Bank lowered its stake in shares of NIKE, Inc. (NYSE:NKE) by 7.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,082 shares of the footwear maker’s stock after selling 1,685 shares during the period. Cape Cod Five Cents Savings Bank’s holdings in NIKE were worth $1,864,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in NKE. Teachers Insurance & Annuity Association of America acquired a new position in NIKE during the third quarter worth approximately $30,000. VitalStone Financial LLC raised its stake in NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 150 shares during the period. Triad Wealth Partners LLC acquired a new stake in NIKE during the 2nd quarter valued at $44,000. Dunhill Financial LLC boosted its position in NIKE by 52.2% during the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after purchasing an additional 169 shares during the period. Finally, MFA Wealth Advisors LLC acquired a new position in shares of NIKE in the second quarter valued at $46,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Price Performance

NIKE stock opened at $78.89 on Monday. The company has a market capitalization of $118.28 billion, a PE ratio of 22.60, a P/E/G 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. The stock has a 50-day moving average price of $79.25 and a two-hundred day moving average price of $81.55. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39.

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

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.40 per share. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.03%. The ex-dividend date is Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is currently 45.85%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Stifel Nicolaus decreased their price target on shares of NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a research note on Monday, August 26th. Sanford C. Bernstein lowered their target price on NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research note on Thursday, September 19th. Royal Bank of Canada reduced their price target on NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research note on Thursday, November 7th. TD Cowen dropped their target price on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a report on Monday, November 18th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $95.54.

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.