NIKE, Inc. (NYSE:NKE) Shares Sold by RB Capital Management LLC

RB Capital Management LLC reduced its position in NIKE, Inc. (NYSE:NKE) by 1.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 56,203 shares of the footwear maker’s stock after selling 661 shares during the quarter. NIKE comprises about 1.2% of RB Capital Management LLC’s portfolio, making the stock its 21st biggest holding. RB Capital Management LLC’s holdings in NIKE were worth $4,968,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Teachers Insurance & Annuity Association of America purchased a new stake in NIKE in the 3rd quarter worth $30,000. VitalStone Financial LLC increased its holdings in NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after acquiring an additional 150 shares in the last quarter. Triad Wealth Partners LLC purchased a new stake in NIKE in the 2nd quarter worth $44,000. Dunhill Financial LLC grew its holdings in shares of NIKE by 52.2% during the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after buying an additional 169 shares in the last quarter. Finally, MFA Wealth Advisors LLC purchased a new stake in shares of NIKE during the second quarter worth $46,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Performance

Shares of NIKE stock opened at $77.67 on Tuesday. The firm has a market capitalization of $116.46 billion, a P/E ratio of 22.26, a P/E/G ratio of 1.93 and a beta of 1.02. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. 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 firm’s 50 day moving average is $79.03 and its two-hundred day moving average is $81.46.

NIKE (NYSE:NKE) last announced 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 firm posted $0.94 earnings per share. Research analysts forecast that NIKE, Inc. will post 2.73 EPS for the current fiscal year.

NIKE Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.06%. NIKE’s dividend payout ratio (DPR) is 45.85%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NKE. Barclays dropped their target price on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a report on Wednesday, October 2nd. Guggenheim dropped their target price on shares of NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Royal Bank of Canada dropped their target price on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a report on Thursday, November 7th. Stifel Nicolaus dropped their price objective on shares of NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a report on Monday, August 26th. Finally, Daiwa America lowered shares of NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Fourteen research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $95.54.

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.