NIKE, Inc. (NYSE:NKE) Holdings Lowered by BNP Paribas

BNP Paribas lowered its stake in NIKE, Inc. (NYSE:NKE) by 12.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,983 shares of the footwear maker’s stock after selling 5,393 shares during the quarter. BNP Paribas’ holdings in NIKE were worth $3,264,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of NKE. VitalStone Financial LLC raised its holdings in shares of NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 150 shares during the period. Bruce G. Allen Investments LLC raised its stake in 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 purchasing an additional 376 shares during the period. Triad Wealth Partners LLC purchased a new stake in shares of NIKE in the second quarter valued at $44,000. MFA Wealth Advisors LLC acquired a new stake in shares of NIKE in the second quarter worth $46,000. Finally, Lynx Investment Advisory purchased a new position in shares of NIKE during the second quarter valued at $47,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Sanford C. Bernstein reduced their price objective on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research note on Thursday, September 19th. Guggenheim reduced their price target on shares of NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. UBS Group raised their price target on shares of NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Finally, Robert W. Baird lifted their target price on shares of NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Fourteen research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.86.

NIKE Stock Performance

NKE opened at $77.61 on Wednesday. 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 stock’s 50 day moving average price is $80.44 and its two-hundred day moving average price is $82.32. The firm has a market capitalization of $116.37 billion, a P/E ratio of 22.24, a price-to-earnings-growth ratio of 1.92 and a beta of 1.03. 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. NIKE’s revenue was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.94 earnings per share. On average, equities analysts forecast that NIKE, Inc. will post 2.75 earnings per share for the current year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is 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.