Old North State Trust LLC Has $402,000 Holdings in NIKE, Inc. (NYSE:NKE)

Old North State Trust LLC lessened its position in NIKE, Inc. (NYSE:NKE) by 3.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,545 shares of the footwear maker’s stock after selling 170 shares during the period. Old North State Trust LLC’s holdings in NIKE were worth $402,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Teachers Insurance & Annuity Association of America bought a new stake in shares of NIKE during the 3rd quarter valued at $30,000. VitalStone Financial LLC boosted 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. Triad Wealth Partners LLC bought a new position in shares of NIKE in the 2nd quarter valued at $44,000. Dunhill Financial LLC raised its holdings in shares of NIKE by 52.2% during the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after buying an additional 169 shares in the last quarter. Finally, MFA Wealth Advisors LLC acquired a new stake in NIKE in the second quarter valued at about $46,000. 64.25% of the stock is owned by institutional investors.

NIKE Price Performance

Shares of NKE stock opened at $77.97 on Friday. The stock has a 50 day moving average of $78.62 and a two-hundred day moving average of $81.31. 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 has a market capitalization of $116.91 billion, a P/E ratio of 22.34, a P/E/G ratio of 1.93 and a beta of 1.02. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The company had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same period last year, the company posted $0.94 earnings per share. As a group, equities analysts expect that NIKE, Inc. will post 2.73 EPS for the current year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.05%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio (DPR) is currently 45.85%.

Analyst Ratings Changes

NKE has been the subject of a number of recent analyst reports. Morgan Stanley increased their target price on shares of NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Guggenheim cut their target price on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. UBS Group lowered their target price on NIKE from $82.00 to $80.00 and set a “neutral” rating for the company in a report on Monday. Stifel Nicolaus dropped their price objective on shares of NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a report on Monday, August 26th. Finally, Sanford C. Bernstein decreased their target price on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research report on Thursday, September 19th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $94.11.

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.