Huntington National Bank Reduces Stock Position in NIKE, Inc. (NYSE:NKE)

Huntington National Bank cut its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 4.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 190,623 shares of the footwear maker's stock after selling 9,506 shares during the period. Huntington National Bank's holdings in NIKE were worth $16,851,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Garrison Point Advisors LLC increased its stake in NIKE by 1.9% in the third quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker's stock valued at $593,000 after purchasing an additional 126 shares during the last quarter. Stephens Consulting LLC increased its position in shares of NIKE by 20.0% during the third quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker's stock worth $68,000 after purchasing an additional 128 shares in the last quarter. PSI Advisors LLC boosted its position in shares of NIKE by 26.3% in the 3rd quarter. PSI Advisors LLC now owns 624 shares of the footwear maker's stock valued at $55,000 after purchasing an additional 130 shares during the period. Pitcairn Co. grew its position in shares of NIKE by 0.5% during the first quarter. Pitcairn Co. now owns 29,067 shares of the footwear maker's stock worth $2,732,000 after acquiring an additional 132 shares during the last quarter. Finally, Chapin Davis Inc. boosted its stake in NIKE by 1.2% during the 3rd quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker's stock worth $1,010,000 after purchasing an additional 133 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NKE has been the subject of several recent research reports. Daiwa America downgraded NIKE from a "moderate buy" rating to a "hold" rating in a report on Wednesday, September 11th. JPMorgan Chase & Co. lowered their price objective on NIKE from $80.00 to $77.00 and set a "neutral" rating on the stock in a report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft cut their target price on NIKE from $95.00 to $92.00 and set a "buy" rating for the company in a research note on Wednesday, October 2nd. Wells Fargo & Company upped their target price on shares of NIKE from $86.00 to $95.00 and gave the stock an "overweight" rating in a research report on Friday, September 20th. Finally, Sanford C. Bernstein lowered their price target on NIKE from $112.00 to $109.00 and set an "outperform" rating on the stock in a report on Thursday, September 19th. Fourteen research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat.com, NIKE has an average rating of "Moderate Buy" and an average target price of $96.48.

NIKE Stock Up 1.3 %

Shares of NYSE NKE traded up $0.98 on Friday, reaching $76.66. 13,558,337 shares of the company's stock traded hands, compared to its average volume of 11,489,007. 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 business's 50 day simple moving average is $80.97 and its two-hundred day simple moving average is $83.39. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The company has a market cap of $114.94 billion, a price-to-earnings ratio of 21.88, a price-to-earnings-growth ratio of 1.86 and a beta of 1.03.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.18. The firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company's revenue was down 10.4% on a year-over-year basis. During the same period last year, the company earned $0.94 earnings per share. As a group, equities research analysts forecast that NIKE, Inc. will post 2.74 EPS for the current fiscal year.

NIKE Increases Dividend

The firm also recently disclosed 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. This is an increase from NIKE's previous quarterly dividend of $0.37. The ex-dividend date is Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.09%. NIKE's payout ratio is presently 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.