Kirtland Hills Capital Management LLC Purchases 4,838 Shares of NIKE, Inc. (NYSE:NKE)

Kirtland Hills Capital Management LLC grew its position in NIKE, Inc. (NYSE:NKE) by 51.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,219 shares of the footwear maker’s stock after purchasing an additional 4,838 shares during the quarter. Kirtland Hills Capital Management LLC’s holdings in NIKE were worth $1,257,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of NKE. Strategy Asset Managers LLC increased its holdings in NIKE by 30.1% in the third quarter. Strategy Asset Managers LLC now owns 4,005 shares of the footwear maker’s stock worth $354,000 after purchasing an additional 927 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in shares of NIKE in the 3rd quarter valued at $401,000. Avior Wealth Management LLC lifted its position in shares of NIKE by 18.1% during the 3rd quarter. Avior Wealth Management LLC now owns 34,037 shares of the footwear maker’s stock valued at $3,009,000 after acquiring an additional 5,220 shares during the period. West Family Investments Inc. bought a new position in NIKE during the third quarter worth $342,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in NIKE in the third quarter worth $144,927,000. 64.25% of the stock is owned by institutional investors.

NIKE Price Performance

NYSE NKE opened at $73.92 on Wednesday. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The company has a market cap of $110.83 billion, a PE ratio of 21.18, a price-to-earnings-growth ratio of 1.86 and a beta of 1.03. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The firm’s 50-day simple moving average is $80.71 and its two-hundred day simple moving average is $82.90.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.18. The company 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 quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.94 earnings per share. Research analysts predict that NIKE, Inc. will post 2.74 earnings per share for the current year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.16%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, December 2nd. NIKE’s payout ratio is presently 42.41%.

Analyst Upgrades and Downgrades

NKE has been the topic of a number of research analyst reports. Robert W. Baird increased their price objective on shares of NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Stifel Nicolaus cut their price target on NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a report on Monday, August 26th. Barclays decreased their price objective on NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a report on Wednesday, October 2nd. Guggenheim cut 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. Finally, Morgan Stanley boosted their price target on shares of NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Fourteen research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $96.30.

NIKE Company 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.