Investors Research Corp Acquires 11,700 Shares of NIKE, Inc. (NYSE:NKE)

Investors Research Corp boosted its holdings in NIKE, Inc. (NYSE:NKE) by 3,323.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 12,052 shares of the footwear maker’s stock after acquiring an additional 11,700 shares during the quarter. Investors Research Corp’s holdings in NIKE were worth $1,065,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its stake in shares of NIKE by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,602,534 shares of the footwear maker’s stock valued at $760,716,000 after purchasing an additional 117,187 shares during the period. Pacer Advisors Inc. increased its holdings in NIKE by 3.2% in the third quarter. Pacer Advisors Inc. now owns 111,285 shares of the footwear maker’s stock valued at $9,838,000 after purchasing an additional 3,464 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in NIKE by 19.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,209,868 shares of the footwear maker’s stock valued at $637,352,000 after buying an additional 1,184,252 shares during the period. LPL Financial LLC boosted its holdings in NIKE by 19.3% during the third quarter. LPL Financial LLC now owns 1,028,131 shares of the footwear maker’s stock worth $90,887,000 after buying an additional 166,127 shares during the last quarter. Finally, Tradewinds LLC. acquired a new position in shares of NIKE during the 3rd quarter worth about $250,000. 64.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NKE. Deutsche Bank Aktiengesellschaft reduced their price objective 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. Jefferies Financial Group boosted their price target on shares of NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a report on Monday, September 30th. Evercore ISI lowered their price objective on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Daiwa America lowered NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Finally, Barclays lowered their price target on NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a report on Wednesday, October 2nd. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $96.30.

NIKE Stock Performance

Shares of NYSE:NKE traded up $0.41 during trading on Thursday, reaching $73.77. 1,002,858 shares of the stock were exchanged, compared to its average volume of 11,453,531. The stock has a 50-day moving average price of $80.61 and a 200-day moving average price of $82.83. The firm has a market cap of $110.61 billion, a PE ratio of 21.01, a PEG ratio of 1.80 and a beta of 1.03. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. 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 released 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. The business 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%. NIKE’s revenue was down 10.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.94 earnings per share. Research analysts expect that NIKE, Inc. will post 2.74 EPS for the current fiscal year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a $0.40 dividend. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Monday, December 2nd. NIKE’s payout ratio is 42.41%.

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.