NIKE, Inc. (NYSE:NKE) Shares Purchased by Investment Management Corp of Ontario

Investment Management Corp of Ontario lifted its position in NIKE, Inc. (NYSE:NKE) by 49.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,238 shares of the footwear maker’s stock after acquiring an additional 13,300 shares during the quarter. Investment Management Corp of Ontario’s holdings in NIKE were worth $3,557,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Loomis Sayles & Co. L P lifted its stake in NIKE by 1,209,638.7% during the third quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock worth $575,342,000 after purchasing an additional 6,507,856 shares during the last quarter. Holocene Advisors LP acquired a new stake in shares of NIKE during the third quarter worth $148,635,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of NIKE during the third quarter worth $144,927,000. PineStone Asset Management Inc. lifted its position in shares of NIKE by 138.3% in the 2nd quarter. PineStone Asset Management Inc. now owns 2,715,689 shares of the footwear maker’s stock worth $204,681,000 after buying an additional 1,576,049 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of NIKE by 351.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock valued at $150,101,000 after buying an additional 1,550,611 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Down 0.3 %

NYSE NKE opened at $78.86 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The company’s 50 day simple moving average is $79.87 and its 200 day simple moving average is $81.84. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The company has a market capitalization of $118.24 billion, a P/E ratio of 22.60, a PEG ratio of 1.92 and a beta of 1.02.

NIKE (NYSE:NKE) last issued 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. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm had revenue of $11.59 billion during 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 firm’s revenue for the quarter was down 10.4% compared to the same quarter last year. Equities research analysts expect that NIKE, Inc. will post 2.75 earnings per share for the current fiscal year.

NIKE Increases Dividend

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

Analysts Set New Price Targets

NKE has been the topic of several research reports. Telsey Advisory Group dropped their price objective on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. Daiwa America cut NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Barclays reduced their price objective on NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 2nd. Williams Trading raised NIKE from a “sell” rating to a “buy” rating and increased their target price for the stock from $67.00 to $93.00 in a research report on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Fourteen equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and an average target price of $95.71.

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.