Pacer Advisors Inc. Acquires 3,464 Shares of NIKE, Inc. (NYSE:NKE)

Pacer Advisors Inc. grew its holdings in shares of NIKE, Inc. (NYSE:NKE) by 3.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 111,285 shares of the footwear maker’s stock after buying an additional 3,464 shares during the period. Pacer Advisors Inc.’s holdings in NIKE were worth $9,838,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Transcendent Capital Group LLC increased its position in NIKE by 97.6% during the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 200 shares during the period. VitalStone Financial LLC increased its position in shares of NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after buying an additional 150 shares during the period. Bruce G. Allen Investments LLC raised its stake in NIKE by 272.5% in the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after buying an additional 376 shares in the last quarter. Triad Wealth Partners LLC purchased a new stake in NIKE in the second quarter worth about $44,000. Finally, Riverview Trust Co bought a new stake in NIKE during the 3rd quarter valued at approximately $52,000. Institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

NKE has been the subject of several research reports. UBS Group increased their target price on NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. TD Cowen lowered their price objective on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research report on Monday, November 18th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. lowered their price target on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Finally, Telsey Advisory Group cut their price objective on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. Fourteen equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and a consensus target price of $95.86.

NIKE Stock Performance

Shares of NKE opened at $77.40 on Friday. The firm has a market capitalization of $116.05 billion, a P/E ratio of 22.18, a PEG ratio of 1.82 and a beta of 1.03. 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 business has a fifty day moving average of $80.51 and a 200 day moving average of $82.59.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same period in the previous year, the company posted $0.94 EPS. The business’s quarterly revenue was down 10.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that NIKE, Inc. will post 2.75 EPS for the current year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.40 per share. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Monday, December 2nd. NIKE’s dividend payout ratio is currently 42.41%.

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.