Cassaday & Co Wealth Management LLC Buys 206 Shares of NIKE, Inc. (NYSE:NKE)

Cassaday & Co Wealth Management LLC increased its position in NIKE, Inc. (NYSE:NKE) by 3.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 5,697 shares of the footwear maker’s stock after purchasing an additional 206 shares during the quarter. Cassaday & Co Wealth Management LLC’s holdings in NIKE were worth $504,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NKE. Garrison Point Advisors LLC increased its holdings in shares of NIKE by 1.9% during the third quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock valued at $593,000 after acquiring an additional 126 shares in the last quarter. Stephens Consulting LLC grew its position in NIKE by 20.0% in the 3rd quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock valued at $68,000 after purchasing an additional 128 shares during the period. PSI Advisors LLC raised its holdings in NIKE by 26.3% during the third quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock worth $55,000 after buying an additional 130 shares during the last quarter. Chapin Davis Inc. lifted its stake in shares of NIKE by 1.2% in the third quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock valued at $1,010,000 after buying an additional 133 shares in the last quarter. Finally, Meridian Financial Partners LLC grew its holdings in shares of NIKE by 1.6% during the third quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock valued at $742,000 after buying an additional 133 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

NIKE Price Performance

NIKE 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 one year low of $70.75 and a one year high of $123.39. The firm 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. The business has a fifty day moving average price of $80.79 and a 200-day moving average price of $83.03.

NIKE (NYSE:NKE) last announced its quarterly earnings results 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. The firm had revenue of $11.59 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the firm posted $0.94 earnings per share. As a group, equities research analysts forecast that NIKE, Inc. will post 2.74 EPS for the current year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.14%. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is presently 42.41%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on NKE shares. JPMorgan Chase & Co. lowered 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. Royal Bank of Canada cut their target price on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft lowered their price target on NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. TD Cowen cut their price objective on shares of NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a report on Monday. Finally, UBS Group increased their target price on shares of NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.30.

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.