Hendershot Investments Inc. Grows Stock Holdings in NIKE, Inc. (NYSE:NKE)

Hendershot Investments Inc. grew its position in shares of NIKE, Inc. (NYSE:NKE) by 0.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 86,831 shares of the footwear maker’s stock after purchasing an additional 491 shares during the period. Hendershot Investments Inc.’s holdings in NIKE were worth $7,676,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. ING Groep NV purchased a new stake in shares of NIKE during the 3rd quarter valued at about $29,628,000. Cordatus Wealth Management LLC lifted its stake in shares of 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 in the last quarter. Bristlecone Advisors LLC lifted its position in shares of 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 acquiring an additional 11,665 shares in the last quarter. Investment Management Corp of Ontario lifted its holdings in NIKE by 49.4% in the 3rd quarter. Investment Management Corp of Ontario now owns 40,238 shares of the footwear maker’s stock worth $3,557,000 after purchasing an additional 13,300 shares in the last quarter. Finally, Lazard Freres Gestion S.A.S. lifted its holdings in shares of 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 worth $66,094,000 after buying an additional 140,632 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NKE. JPMorgan Chase & Co. dropped their price target on NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research note on Monday, December 2nd. Jefferies Financial Group boosted their target price on shares of NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research note on Monday, September 30th. Wells Fargo & Company increased their price objective on NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Finally, Williams Trading raised NIKE from a “sell” rating to a “buy” rating and increased their target price for the company from $67.00 to $93.00 in a research report on Friday, August 16th. Fourteen analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $95.54.

NIKE Trading Up 0.4 %

NYSE:NKE opened at $78.86 on Friday. 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 $118.24 billion, a PE ratio of 22.60, a price-to-earnings-growth ratio of 1.91 and a beta of 1.02. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The stock has a fifty day moving average price of $79.46 and a 200 day moving average price of $81.80.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.94 earnings per share. Sell-side analysts anticipate that NIKE, Inc. will post 2.73 earnings per share for the current fiscal 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 given a dividend of $0.40 per share. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Monday, December 2nd. NIKE’s dividend payout ratio is currently 45.85%.

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.