NIKE, Inc. (NYSE:NKE) Position Lessened by MAI Capital Management

MAI Capital Management lessened its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 14.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 156,969 shares of the footwear maker's stock after selling 27,084 shares during the period. MAI Capital Management's holdings in NIKE were worth $13,876,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. Legal & General Group Plc increased its stake in NIKE by 5.5% during the second quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker's stock worth $832,785,000 after acquiring an additional 571,544 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in NIKE by 0.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,025,616 shares of the footwear maker's stock worth $454,151,000 after buying an additional 52,500 shares during the last quarter. Longview Partners Guernsey LTD purchased a new position in NIKE during the first quarter worth $533,533,000. Capital World Investors raised its stake in shares of NIKE by 612.2% in the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker's stock valued at $487,327,000 after acquiring an additional 4,457,376 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in shares of NIKE by 15.1% in the 3rd quarter. Van ECK Associates Corp now owns 4,885,672 shares of the footwear maker's stock worth $431,893,000 after acquiring an additional 641,398 shares during the last quarter. Institutional investors own 64.25% of the company's stock.

NIKE Trading Down 1.4 %

NKE stock traded down $1.07 during midday trading on Tuesday, reaching $73.82. 8,576,277 shares of the company's stock traded hands, compared to its average volume of 11,481,040. The business has a 50-day moving average price of $80.79 and a two-hundred day moving average price of $83.03. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. 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 has a market capitalization of $110.68 billion, a P/E ratio of 21.45, a PEG ratio of 1.86 and a beta of 1.03.

NIKE (NYSE:NKE - Get Free Report) last posted its 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. The business had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company's revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.94 earnings per share. Equities research analysts forecast that NIKE, Inc. will post 2.74 EPS for the current fiscal year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a $0.40 dividend. This is a positive change from NIKE's previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.60 annualized dividend and a yield of 2.17%. NIKE's payout ratio is 42.41%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Guggenheim cut their target price on NIKE from $115.00 to $110.00 and set a "buy" rating on the stock in a research note on Wednesday, October 2nd. Wells Fargo & Company increased their target price on NIKE from $86.00 to $95.00 and gave the stock an "overweight" rating in a research note on Friday, September 20th. JPMorgan Chase & Co. dropped their target price on shares of NIKE from $80.00 to $77.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 2nd. Stifel Nicolaus decreased their price objective on NIKE from $88.00 to $79.00 and set a "hold" rating for the company in a report on Monday, August 26th. Finally, Barclays dropped their target price on shares of NIKE from $84.00 to $81.00 and set an "equal weight" rating on the stock in a report on Wednesday, October 2nd. Fourteen research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat, NIKE has a consensus rating of "Moderate Buy" and a consensus target price of $96.30.

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.