NIKE, Inc. (NYSE:NKE) Position Increased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in NIKE, Inc. (NYSE:NKE) by 4.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 548,318 shares of the footwear maker’s stock after buying an additional 24,614 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in NIKE were worth $48,471,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of NKE. VitalStone Financial LLC raised its position in shares of NIKE by 52.6% during the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 150 shares during the period. Bruce G. Allen Investments LLC increased its position in NIKE by 272.5% in the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after buying an additional 376 shares during the period. Triad Wealth Partners LLC bought a new stake in NIKE in the second quarter valued at $44,000. MFA Wealth Advisors LLC acquired a new position in shares of NIKE during the second quarter valued at $46,000. Finally, Lynx Investment Advisory bought a new position in shares of NIKE during the second quarter worth about $47,000. Institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

NKE opened at $78.34 on Friday. The firm has a market capitalization of $117.46 billion, a P/E ratio of 22.45, a PEG ratio of 1.90 and a beta of 1.03. The stock has a fifty day moving average of $80.34 and a 200-day moving average of $82.27. 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, 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, topping the consensus estimate of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same period in the prior year, the business earned $0.94 EPS. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. Equities analysts forecast that NIKE, Inc. will post 2.75 EPS for the current fiscal year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.40 per share. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Monday, December 2nd. NIKE’s payout ratio is currently 42.41%.

Analysts Set New Price Targets

A number of research firms have issued reports on NKE. Sanford C. Bernstein reduced their target price on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research note on Thursday, September 19th. Guggenheim decreased their price objective on NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. TD Cowen cut their target price on NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research note on Monday, November 18th. Morgan Stanley raised their price target on NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Finally, Wells Fargo & Company upped their price objective on shares of NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Fourteen investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and an average price target of $95.86.

About NIKE

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.