Vinva Investment Management Ltd Sells 24,757 Shares of NIKE, Inc. (NYSE:NKE)

Vinva Investment Management Ltd lowered its holdings in NIKE, Inc. (NYSE:NKE) by 41.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,032 shares of the footwear maker’s stock after selling 24,757 shares during the period. Vinva Investment Management Ltd’s holdings in NIKE were worth $3,133,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Public Sector Pension Investment Board grew its position in NIKE by 9.7% in the third quarter. Public Sector Pension Investment Board now owns 51,000 shares of the footwear maker’s stock valued at $4,508,000 after purchasing an additional 4,500 shares in the last quarter. Noesis Capital Mangement Corp grew its position in NIKE by 6.2% in the third quarter. Noesis Capital Mangement Corp now owns 132,238 shares of the footwear maker’s stock valued at $11,690,000 after purchasing an additional 7,749 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in NIKE by 4.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 548,318 shares of the footwear maker’s stock valued at $48,471,000 after purchasing an additional 24,614 shares in the last quarter. Providence Capital Advisors LLC grew its position in NIKE by 29.3% in the third quarter. Providence Capital Advisors LLC now owns 78,784 shares of the footwear maker’s stock valued at $6,965,000 after purchasing an additional 17,871 shares in the last quarter. Finally, CreativeOne Wealth LLC grew its position in NIKE by 13.5% in the third quarter. CreativeOne Wealth LLC now owns 21,978 shares of the footwear maker’s stock valued at $1,943,000 after purchasing an additional 2,612 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on NKE. JPMorgan Chase & Co. cut 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. Daiwa America cut shares of NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Telsey Advisory Group cut their price target on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Stifel Nicolaus cut their price target on shares of NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research note on Monday, August 26th. Finally, 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 research note on Wednesday, October 2nd. Fourteen analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.86.

NIKE Price Performance

NKE stock opened at $78.34 on Friday. 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 12 month low of $70.75 and a 12 month high of $123.39. The firm has a market cap of $117.46 billion, a P/E ratio of 22.45, a P/E/G ratio of 1.90 and a beta of 1.03. The company’s 50-day moving average price is $80.34 and its two-hundred day moving average price is $82.27.

NIKE (NYSE:NKE) last released 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 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%. The business’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same period last year, the firm earned $0.94 EPS. On average, analysts anticipate that NIKE, Inc. will post 2.75 earnings per share for the current fiscal year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a dividend of $0.40 per share. 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. This represents a $1.60 annualized dividend and a dividend yield of 2.04%. NIKE’s payout ratio is 42.41%.

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.