NIKE, Inc. (NYSE:NKE) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc raised its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 7.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 185,320 shares of the footwear maker's stock after buying an additional 12,351 shares during the period. CIBC Asset Management Inc's holdings in NIKE were worth $16,382,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of NKE. 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 worth $593,000 after purchasing an additional 126 shares during the period. Stephens Consulting LLC lifted its holdings in NIKE by 20.0% during the 3rd quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker's stock valued at $68,000 after buying an additional 128 shares in the last quarter. PSI Advisors LLC boosted its position in 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 buying an additional 130 shares during the period. Pitcairn Co. grew its stake in NIKE by 0.5% in the 1st quarter. Pitcairn Co. now owns 29,067 shares of the footwear maker's stock worth $2,732,000 after acquiring an additional 132 shares in the last quarter. Finally, Chapin Davis Inc. increased its position in shares of NIKE by 1.2% during the third quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker's stock worth $1,010,000 after acquiring an additional 133 shares during the period. Institutional investors own 64.25% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on NKE shares. JPMorgan Chase & Co. dropped their price objective on NIKE from $80.00 to $77.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 2nd. 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 shares of NIKE from $115.00 to $110.00 and set a "buy" rating on the stock in a research report on Wednesday, October 2nd. Royal Bank of Canada lowered their price target on shares of NIKE from $82.00 to $80.00 and set a "sector perform" rating for the company in a research report on Thursday, November 7th. Finally, Sanford C. Bernstein cut their price objective on shares of NIKE from $112.00 to $109.00 and set an "outperform" rating on the stock in a report on Thursday, September 19th. Fourteen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, NIKE currently has a consensus rating of "Moderate Buy" and a consensus target price of $96.48.

NIKE Stock Performance

Shares of NKE stock traded up $0.98 during trading hours on Friday, hitting $76.66. The company's stock had a trading volume of 13,584,939 shares, compared to its average volume of 11,489,007. The stock has a market cap of $114.94 billion, a PE ratio of 21.97, a price-to-earnings-growth ratio of 1.86 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 50 day moving average of $80.89 and a 200 day moving average of $83.27. 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 - Get Free Report) last posted 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 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 firm's revenue was down 10.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.94 earnings per share. On average, sell-side analysts forecast 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 given 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 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Monday, December 2nd. NIKE's dividend payout ratio (DPR) is currently 42.41%.

NIKE 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.