Prospera Private Wealth LLC Buys Shares of 4,540 NIKE, Inc. (NYSE:NKE)

Prospera Private Wealth LLC bought a new stake in NIKE, Inc. (NYSE:NKE) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 4,540 shares of the footwear maker’s stock, valued at approximately $401,000.

A number of other institutional investors also recently made changes to their positions in the business. Edgestream Partners L.P. bought a new stake in shares of NIKE in the 1st quarter valued at approximately $727,000. Covestor Ltd increased its holdings in shares of NIKE by 51.4% in the 1st quarter. Covestor Ltd now owns 825 shares of the footwear maker’s stock valued at $77,000 after acquiring an additional 280 shares during the last quarter. Seven Eight Capital LP bought a new stake in shares of NIKE in the 1st quarter valued at approximately $612,000. Shell Asset Management Co. increased its holdings in shares of NIKE by 21.1% in the 1st quarter. Shell Asset Management Co. now owns 16,342 shares of the footwear maker’s stock valued at $1,536,000 after acquiring an additional 2,850 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in shares of NIKE by 86.0% in the 1st quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock valued at $1,970,000 after acquiring an additional 9,689 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NKE has been the subject of a number of research analyst reports. Stifel Nicolaus lowered their price target on NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a report on Monday, August 26th. Bank of America lowered their price target on NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. UBS Group upped their price objective on NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Sanford C. Bernstein lowered their price objective on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research note on Thursday, September 19th. Finally, Telsey Advisory Group lowered their price objective on NIKE from $100.00 to $96.00 and set an “outperform” 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and an average price target of $96.30.

NIKE Trading Down 0.8 %

Shares of NYSE NKE opened at $73.33 on Thursday. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The company has a market cap of $109.95 billion, a price-to-earnings ratio of 21.01, a P/E/G ratio of 1.86 and a beta of 1.03. 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 business has a fifty day simple moving average of $80.61 and a 200-day simple moving average of $82.83.

NIKE (NYSE:NKE) last announced its 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 business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. NIKE’s revenue was down 10.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.94 earnings per share. Sell-side analysts predict 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 given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.18%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, December 2nd. NIKE’s payout ratio is presently 45.85%.

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.