NIKE, Inc. (NYSE:NKE) Shares Purchased by State Street Corp

State Street Corp lifted its position in NIKE, Inc. (NYSE:NKE) by 3.3% during the third quarter, HoldingsChannel.com reports. The fund owned 57,916,789 shares of the footwear maker’s stock after acquiring an additional 1,862,021 shares during the period. State Street Corp’s holdings in NIKE were worth $5,140,796,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. ING Groep NV purchased a new stake in NIKE in the third quarter valued at $29,628,000. Cordatus Wealth Management LLC raised its position in NIKE by 19.5% in the third quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker’s stock valued at $3,669,000 after purchasing an additional 6,778 shares during the period. Bristlecone Advisors LLC raised its position in NIKE by 14.3% in the third quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock valued at $8,267,000 after purchasing an additional 11,665 shares during the period. Investment Management Corp of Ontario raised its position in NIKE by 49.4% in the third quarter. Investment Management Corp of Ontario now owns 40,238 shares of the footwear maker’s stock valued at $3,557,000 after purchasing an additional 13,300 shares during the period. Finally, Lazard Freres Gestion S.A.S. raised its position in NIKE by 23.2% in the third quarter. Lazard Freres Gestion S.A.S. now owns 747,675 shares of the footwear maker’s stock valued at $66,094,000 after purchasing an additional 140,632 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

Shares of NKE stock opened at $78.37 on Thursday. The company has a market cap of $117.50 billion, a price-to-earnings ratio of 22.46, a price-to-earnings-growth ratio of 1.92 and a beta of 1.02. The stock has a 50 day simple moving average of $79.67 and a 200-day simple moving average of $81.82. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. During the same quarter last year, the firm earned $0.94 earnings per share. The business’s revenue was down 10.4% on a year-over-year basis. On average, equities analysts forecast that NIKE, Inc. will post 2.74 EPS for the current year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.40 per share. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, December 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.04%. NIKE’s dividend payout ratio (DPR) is 45.85%.

Analyst Ratings Changes

A number of research firms have commented on NKE. Sanford C. Bernstein reduced their target price on NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research report on Thursday, September 19th. Morgan Stanley lifted their target price on NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Telsey Advisory Group reduced their target price on NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. Guggenheim cut their price objective on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Finally, Daiwa America downgraded NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Fourteen analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $95.71.

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.