Brown Brothers Harriman & Co. Has $192.67 Million Position in NIKE, Inc. (NYSE:NKE)

Brown Brothers Harriman & Co. trimmed its position in NIKE, Inc. (NYSE:NKE) by 3.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,179,486 shares of the footwear maker’s stock after selling 69,325 shares during the quarter. NIKE accounts for 1.3% of Brown Brothers Harriman & Co.’s holdings, making the stock its 23rd biggest holding. Brown Brothers Harriman & Co. owned 0.15% of NIKE worth $192,667,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Loomis Sayles & Co. L P boosted its position in shares of NIKE by 1,209,638.7% in the third quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock valued at $575,342,000 after acquiring an additional 6,507,856 shares during the period. Harvest Fund Management Co. Ltd raised its stake in NIKE by 599.1% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 797 shares of the footwear maker’s stock worth $70,000 after purchasing an additional 683 shares in the last quarter. Bank of Hawaii boosted its holdings in NIKE by 69.1% in the 3rd quarter. Bank of Hawaii now owns 8,876 shares of the footwear maker’s stock valued at $785,000 after purchasing an additional 3,626 shares during the period. Fisher Asset Management LLC grew its position in shares of NIKE by 6.0% during the 3rd quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock worth $910,801,000 after purchasing an additional 583,207 shares in the last quarter. Finally, Hartford Funds Management Co LLC grew its position in shares of NIKE by 20.7% during the 3rd quarter. Hartford Funds Management Co LLC now owns 4,688 shares of the footwear maker’s stock worth $414,000 after purchasing an additional 805 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on NKE. Needham & Company LLC assumed coverage on NIKE in a research note on Friday. They issued a “buy” rating and a $84.00 price target for the company. Barclays cut their target price on NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 2nd. Jefferies Financial Group raised their price target on NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Monday, September 30th. Bank of America cut their price objective on shares of NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Finally, TD Cowen dropped their target price on shares of NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research report on Monday, November 18th. Fourteen research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $95.86.

NIKE Price Performance

NKE stock opened at $77.40 on Monday. 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 has a market cap of $116.05 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 1.88 and a beta of 1.03. The company’s fifty day simple moving average is $80.51 and its 200 day simple moving average is $82.52. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39.

NIKE (NYSE:NKE) last announced its quarterly earnings data 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. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. During the same period in the previous year, the business earned $0.94 EPS. The firm’s revenue was down 10.4% compared to the same quarter last year. On average, analysts expect that NIKE, Inc. will post 2.75 earnings per share for the current 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 issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.07%. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, December 2nd. NIKE’s dividend payout ratio is presently 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.