NIKE, Inc. (NYSE:NKE) Shares Sold by Main Street Financial Solutions LLC

Main Street Financial Solutions LLC decreased its position in shares of NIKE, Inc. (NYSE:NKE) by 31.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,296 shares of the footwear maker’s stock after selling 1,973 shares during the period. Main Street Financial Solutions LLC’s holdings in NIKE were worth $380,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Cordatus Wealth Management LLC grew its holdings in shares of 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 in the last quarter. Bristlecone Advisors LLC boosted its position in NIKE by 14.3% in the 3rd quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock valued at $8,267,000 after buying an additional 11,665 shares during the period. WoodTrust Financial Corp increased its position in shares of NIKE by 19.9% during the third quarter. WoodTrust Financial Corp now owns 98,289 shares of the footwear maker’s stock worth $8,689,000 after acquiring an additional 16,303 shares during the period. Farmers & Merchants Investments Inc. raised its stake in shares of NIKE by 44.8% in the third quarter. Farmers & Merchants Investments Inc. now owns 194,101 shares of the footwear maker’s stock valued at $17,159,000 after acquiring an additional 60,008 shares in the last quarter. Finally, Heritage Investors Management Corp boosted its holdings in NIKE by 2.6% in the third quarter. Heritage Investors Management Corp now owns 352,199 shares of the footwear maker’s stock valued at $31,134,000 after purchasing an additional 9,068 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Price Performance

Shares of NYSE NKE opened at $75.67 on Friday. The stock has a fifty day moving average price of $81.07 and a 200 day moving average price of $83.44. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The company has a market cap of $113.46 billion, a PE ratio of 21.68, a P/E/G ratio of 1.86 and a beta of 1.03.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $11.64 billion. During the same quarter last year, the business earned $0.94 EPS. The business’s revenue was down 10.4% on a year-over-year basis. Sell-side analysts forecast that NIKE, Inc. will post 2.74 EPS for the current year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.11%. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio is 42.41%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on NKE shares. Telsey Advisory Group reduced their price target on NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. Wells Fargo & Company lifted their price target on shares of NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Robert W. Baird boosted their price target on shares of NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Guggenheim reduced their price objective on shares of NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Fourteen research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $96.48.

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.