Cadence Bank Has $4.89 Million Stock Position in NIKE, Inc. (NYSE:NKE)

Cadence Bank raised its holdings in shares of NIKE, Inc. (NYSE:NKE) by 2.8% during the third quarter, HoldingsChannel.com reports. The firm owned 55,282 shares of the footwear maker’s stock after acquiring an additional 1,520 shares during the quarter. Cadence Bank’s holdings in NIKE were worth $4,887,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. VitalStone Financial LLC lifted its holdings in NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after buying an additional 150 shares during the period. Bruce G. Allen Investments LLC raised its position in shares of NIKE by 272.5% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after acquiring an additional 376 shares during the last quarter. Triad Wealth Partners LLC acquired a new position in shares of NIKE in the 2nd quarter valued at $44,000. MFA Wealth Advisors LLC bought a new position in shares of NIKE in the 2nd quarter worth $46,000. Finally, Lynx Investment Advisory bought a new position in shares of NIKE in the 2nd quarter worth $47,000. Institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NKE opened at $77.61 on Wednesday. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The company’s fifty day simple moving average is $80.44 and its 200 day simple moving average is $82.32. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The company has a market cap of $116.37 billion, a price-to-earnings ratio of 22.24, a PEG ratio of 1.92 and a beta of 1.03.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping 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 company had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. During the same period in the previous year, the business earned $0.94 EPS. NIKE’s revenue for the quarter was down 10.4% compared to the same quarter last year. On average, research analysts forecast that NIKE, Inc. will post 2.75 earnings per share for the current fiscal year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.06%. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is presently 42.41%.

Analysts Set New Price Targets

Several research firms have weighed in on NKE. Robert W. Baird increased their target price on NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. UBS Group increased their price target on shares of NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada reduced their price objective on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. Stifel Nicolaus lowered their target price on shares of NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research note on Monday, August 26th. Finally, Daiwa America cut shares of NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Fourteen investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and an average target price of $95.86.

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.