IMS Capital Management Has $1.96 Million Stock Holdings in NIKE, Inc. (NYSE:NKE)

IMS Capital Management reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 0.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,161 shares of the footwear maker’s stock after selling 200 shares during the quarter. IMS Capital Management’s holdings in NIKE were worth $1,959,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. SeaCrest Wealth Management LLC boosted its position in shares of NIKE by 12.7% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 2,767 shares of the footwear maker’s stock worth $209,000 after acquiring an additional 311 shares in the last quarter. Atria Wealth Solutions Inc. boosted its holdings in shares of NIKE by 3.5% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 47,057 shares of the footwear maker’s stock valued at $3,561,000 after purchasing an additional 1,589 shares in the last quarter. KG&L Capital Management LLC increased its stake in shares of NIKE by 34.7% in the 2nd quarter. KG&L Capital Management LLC now owns 5,054 shares of the footwear maker’s stock valued at $381,000 after purchasing an additional 1,302 shares during the last quarter. Griffin Asset Management Inc. raised its holdings in shares of NIKE by 3.1% during the 2nd quarter. Griffin Asset Management Inc. now owns 21,700 shares of the footwear maker’s stock worth $1,636,000 after buying an additional 646 shares in the last quarter. Finally, Kiley Juergens Wealth Management LLC lifted its position in shares of NIKE by 1.3% during the 2nd quarter. Kiley Juergens Wealth Management LLC now owns 18,277 shares of the footwear maker’s stock worth $1,378,000 after buying an additional 229 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NKE. Bank of America dropped their target price on shares of NIKE from $100.00 to $95.00 and set a “buy” rating for the company in a report on Thursday, December 5th. Sanford C. Bernstein cut their target price on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research report on Thursday, September 19th. Robert W. Baird boosted their target price on shares of NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Deutsche Bank Aktiengesellschaft dropped their price target on NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Monday. Finally, TD Cowen reduced their price objective on NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research report on Monday, November 18th. Fourteen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $93.15.

NIKE Stock Up 1.0 %

Shares of NYSE NKE opened at $77.97 on Wednesday. The business’s fifty day moving average price is $78.39 and its 200-day moving average price is $80.83. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The stock has a market capitalization of $116.91 billion, a PE ratio of 22.34, a P/E/G ratio of 1.93 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. During the same period in the prior year, the company posted $0.94 EPS. NIKE’s revenue was down 10.4% compared to the same quarter last year. On average, equities research analysts anticipate that NIKE, Inc. will post 2.73 EPS for the current year.

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.05%. 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 presently 45.85%.

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.