Archer Investment Corp Boosts Stake in NIKE, Inc. (NYSE:NKE)

Archer Investment Corp lifted its holdings in NIKE, Inc. (NYSE:NKE) by 4.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,918 shares of the footwear maker’s stock after buying an additional 236 shares during the quarter. Archer Investment Corp’s holdings in NIKE were worth $523,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Garrison Point Advisors LLC boosted its holdings in shares of NIKE by 1.9% in the 3rd quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock worth $593,000 after acquiring an additional 126 shares in the last quarter. Stephens Consulting LLC boosted its holdings in shares of NIKE by 20.0% in the 3rd quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock worth $68,000 after acquiring an additional 128 shares in the last quarter. PSI Advisors LLC boosted its holdings in shares of NIKE by 26.3% in the 3rd quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock worth $55,000 after acquiring an additional 130 shares in the last quarter. Pitcairn Co. boosted its holdings in shares of NIKE by 0.5% in the 1st quarter. Pitcairn Co. now owns 29,067 shares of the footwear maker’s stock worth $2,732,000 after acquiring an additional 132 shares in the last quarter. Finally, Chapin Davis Inc. boosted its holdings in shares of NIKE by 1.2% in the 3rd quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock worth $1,010,000 after acquiring an additional 133 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Stock Up 1.1 %

NKE stock traded up $0.80 during trading on Friday, reaching $76.48. The stock had a trading volume of 2,112,318 shares, compared to its average volume of 11,434,797. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. 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 company’s 50 day moving average is $80.97 and its two-hundred day moving average is $83.39. The company has a market capitalization of $114.67 billion, a price-to-earnings ratio of 21.88, a P/E/G ratio of 1.86 and a beta of 1.03.

NIKE (NYSE:NKE) last released 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 firm had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company’s quarterly revenue was down 10.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.94 earnings per share. Equities research analysts forecast that NIKE, Inc. will post 2.74 EPS for the current year.

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.09%. This is a boost from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is presently 42.41%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NKE. Royal Bank of Canada reduced their target price on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a report on Thursday, November 7th. Bank of America lowered 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. Deutsche Bank Aktiengesellschaft lowered their target price on NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Sanford C. Bernstein reduced their price objective 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. Finally, Robert W. Baird increased their price objective on shares of NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $96.48.

NIKE Company 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.