Taurus Asset Management LLC Sells 29,966 Shares of NIKE, Inc. (NYSE:NKE)

Taurus Asset Management LLC trimmed its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 12.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 204,626 shares of the footwear maker's stock after selling 29,966 shares during the quarter. NIKE accounts for approximately 1.8% of Taurus Asset Management LLC's portfolio, making the stock its 26th largest holding. Taurus Asset Management LLC's holdings in NIKE were worth $18,089,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Garrison Point Advisors LLC grew its position in NIKE by 1.9% in the 3rd 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 in the last quarter. Stephens Consulting LLC lifted its holdings in 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 acquiring an additional 128 shares during the period. PSI Advisors LLC boosted its position in NIKE by 26.3% in the third quarter. PSI Advisors LLC now owns 624 shares of the footwear maker's stock worth $55,000 after purchasing an additional 130 shares during the last quarter. Pitcairn Co. increased its position in shares of NIKE by 0.5% during the 1st quarter. Pitcairn Co. now owns 29,067 shares of the footwear maker's stock valued at $2,732,000 after purchasing an additional 132 shares during the last quarter. Finally, Chapin Davis Inc. raised its stake in shares of 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. Institutional investors own 64.25% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NKE. Daiwa America downgraded shares of NIKE from a "moderate buy" rating to a "hold" rating in a report on Wednesday, September 11th. Royal Bank of Canada dropped their price objective on NIKE from $82.00 to $80.00 and set a "sector perform" rating on the stock in a research note on Thursday, November 7th. Morgan Stanley boosted their target price on NIKE from $79.00 to $82.00 and gave the company an "equal weight" rating in a research note on Wednesday, September 25th. 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. Finally, Guggenheim reduced their target price on shares of NIKE from $115.00 to $110.00 and set a "buy" rating for the company in a research note on Wednesday, October 2nd. Fourteen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $96.30.

NIKE Trading Down 2.7 %

NYSE NKE traded down $2.10 during trading on Monday, hitting $74.56. 7,300,821 shares of the company's stock traded hands, compared to its average volume of 11,470,262. The stock has a fifty day moving average of $80.89 and a two-hundred day moving average of $83.15. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The firm has a market cap of $111.79 billion, a P/E ratio of 21.89, a PEG ratio of 1.86 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 (NYSE:NKE - Get Free Report) last announced 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. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business had revenue of $11.59 billion during the quarter, compared to analysts' expectations of $11.64 billion. During the same quarter in the prior year, the company posted $0.94 EPS. The firm's revenue for the quarter was down 10.4% compared to the same quarter last year. As a group, sell-side analysts expect that NIKE, Inc. will post 2.74 EPS for the current year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Monday, December 2nd. This is an increase from NIKE's previous quarterly dividend of $0.37. NIKE's payout ratio 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.