Geller Advisors LLC Trims Stake in NIKE, Inc. (NYSE:NKE)

Geller Advisors LLC trimmed its position in NIKE, Inc. (NYSE:NKE) by 8.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,791 shares of the footwear maker’s stock after selling 272 shares during the quarter. Geller Advisors LLC’s holdings in NIKE were worth $248,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in NKE. Teachers Insurance & Annuity Association of America bought a new stake in shares of NIKE in the third quarter valued at about $30,000. VitalStone Financial LLC raised its holdings in shares of NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 150 shares in the last quarter. Dunhill Financial LLC raised its holdings in shares of NIKE by 52.2% in the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after purchasing an additional 169 shares in the last quarter. Triad Wealth Partners LLC bought a new position in shares of NIKE during the second quarter valued at approximately $44,000. Finally, Riverview Trust Co purchased a new position in NIKE during the third quarter valued at approximately $52,000. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Down 1.5 %

NIKE stock opened at $77.67 on Tuesday. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The firm has a market cap of $116.46 billion, a price-to-earnings ratio of 22.26, a price-to-earnings-growth ratio of 1.93 and a beta of 1.02. The business’s 50-day moving average price is $79.03 and its 200 day moving average price is $81.46. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $11.64 billion. During the same quarter last year, the company earned $0.94 EPS. The business’s revenue was down 10.4% on a year-over-year basis. As a group, sell-side analysts anticipate that NIKE, Inc. will post 2.73 earnings per share for the current year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.40 per share. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Monday, December 2nd. NIKE’s dividend payout ratio is presently 45.85%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on NKE shares. Guggenheim cut their price target on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Williams Trading upgraded shares of NIKE from a “sell” rating to a “buy” rating and boosted their target price for the stock from $67.00 to $93.00 in a report on Friday, August 16th. Robert W. Baird increased their price target on shares of NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. JPMorgan Chase & Co. cut their price objective on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research report on Monday, December 2nd. Finally, Daiwa America downgraded shares of NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Fourteen equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.