NIKE, Inc. (NYSE:NKE) Holdings Lifted by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd boosted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 599.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 797 shares of the footwear maker’s stock after acquiring an additional 683 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in NIKE were worth $70,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of NKE. VitalStone Financial LLC boosted its holdings in shares of NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 150 shares during the period. Bruce G. Allen Investments LLC boosted its stake in shares of NIKE by 272.5% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after buying an additional 376 shares during the period. Triad Wealth Partners LLC purchased a new position in shares of NIKE during the 2nd quarter valued at $44,000. Riverview Trust Co acquired a new position in shares of NIKE in the third quarter worth $52,000. Finally, MFA Wealth Advisors LLC purchased a new stake in shares of NIKE during the second quarter worth $46,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Daiwa America downgraded NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Bank of America reduced their price target on NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Morgan Stanley upped their price target on NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Evercore ISI lowered their price objective on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. Finally, Royal Bank of Canada cut their target price on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research note on Thursday, November 7th. Fourteen investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $95.86.

NIKE Stock Performance

NYSE NKE opened at $78.31 on Thursday. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The company has a 50 day moving average of $80.39 and a 200-day moving average of $82.29. 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 firm has a market cap of $117.41 billion, a price-to-earnings ratio of 22.44, a PEG ratio of 1.92 and a beta of 1.03.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (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 return on equity of 39.84% and a net margin of 10.60%. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.94 EPS. On average, equities analysts forecast that NIKE, Inc. will post 2.75 earnings per share for the current fiscal year.

NIKE Increases Dividend

The business also recently disclosed 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. The ex-dividend date is Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.04%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio is currently 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.