NIKE, Inc. (NYSE:NKE) Holdings Reduced by Hancock Whitney Corp

Hancock Whitney Corp lessened its holdings in shares of NIKE, Inc. (NYSE:NKE) by 4.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 8,283 shares of the footwear maker’s stock after selling 405 shares during the quarter. Hancock Whitney Corp’s holdings in NIKE were worth $732,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. ING Groep NV bought a new position in shares of NIKE in the third quarter worth $29,628,000. Cordatus Wealth Management LLC increased its stake in NIKE by 19.5% during the 3rd quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker’s stock valued at $3,669,000 after buying an additional 6,778 shares during the period. Bristlecone Advisors LLC raised its position in shares of NIKE by 14.3% during the 3rd quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock worth $8,267,000 after buying an additional 11,665 shares in the last quarter. WoodTrust Financial Corp lifted its stake in shares of NIKE by 19.9% in the 3rd quarter. WoodTrust Financial Corp now owns 98,289 shares of the footwear maker’s stock worth $8,689,000 after acquiring an additional 16,303 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of NIKE by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,602,534 shares of the footwear maker’s stock valued at $760,716,000 after acquiring an additional 117,187 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. TD Cowen lowered their price target on NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research report on Monday, November 18th. Bank of America cut their price target on shares of NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Jefferies Financial Group raised their target price on shares of NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Monday, September 30th. Royal Bank of Canada cut their price objective on NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research report on Thursday, November 7th. Finally, Sanford C. Bernstein decreased their target price on NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a report on Thursday, September 19th. Fourteen research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, NIKE has a consensus rating of “Moderate Buy” and an average price target of $95.86.

NIKE Stock Performance

NKE stock 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. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The business’s fifty day moving average is $80.44 and its 200-day moving average is $82.32. The company has a market cap 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 (NYSE:NKE) last issued its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.52 by $0.18. The firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business’s quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.94 earnings per share. Equities research analysts forecast that NIKE, Inc. will post 2.75 EPS for the current year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.06%. The ex-dividend date is Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. 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.