BCGM Wealth Management LLC Takes Position in NIKE, Inc. (NYSE:NKE)

BCGM Wealth Management LLC acquired a new position in NIKE, Inc. (NYSE:NKE) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,436 shares of the footwear maker’s stock, valued at approximately $215,000.

Other hedge funds also recently modified their holdings of the company. Legal & General Group Plc lifted its stake in shares of NIKE by 5.5% during the 2nd quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock valued at $832,785,000 after buying an additional 571,544 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of NIKE by 0.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,025,616 shares of the footwear maker’s stock worth $454,151,000 after acquiring an additional 52,500 shares during the last quarter. Longview Partners Guernsey LTD bought a new stake in NIKE during the first quarter worth about $533,533,000. Capital World Investors boosted its stake in NIKE by 612.2% in the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock worth $487,327,000 after buying an additional 4,457,376 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its stake in shares of NIKE by 2.3% in the 1st quarter. Clearbridge Investments LLC now owns 4,963,253 shares of the footwear maker’s stock valued at $466,447,000 after purchasing an additional 109,295 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Robert W. Baird raised their price target on NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. JPMorgan Chase & Co. decreased their price target on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a research note on Wednesday, October 2nd. Morgan Stanley raised their price objective on NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Guggenheim dropped their price objective on shares of NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Finally, Williams Trading raised shares of NIKE from a “sell” rating to a “buy” rating and raised their target price for the company from $67.00 to $93.00 in a research note on Friday, August 16th. Fourteen research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $96.48.

NIKE Stock Performance

NIKE stock opened at $76.66 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The firm has a market capitalization of $114.94 billion, a P/E ratio of 21.97, a price-to-earnings-growth ratio of 1.86 and a beta of 1.03. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The company’s 50-day moving average is $80.89 and its 200 day moving average is $83.20.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 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 firm had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. During the same quarter in the prior year, the firm posted $0.94 earnings per share. The company’s quarterly revenue was down 10.4% on a year-over-year basis. Research analysts forecast that NIKE, Inc. will post 2.74 EPS for the current year.

NIKE Increases Dividend

The firm 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 is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.09%. NIKE’s dividend payout ratio (DPR) 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.