NIKE, Inc. (NYSE:NKE) Shares Purchased by Beaton Management Co. Inc.

Beaton Management Co. Inc. raised its position in NIKE, Inc. (NYSE:NKE) by 1.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 16,698 shares of the footwear maker’s stock after acquiring an additional 286 shares during the quarter. Beaton Management Co. Inc.’s holdings in NIKE were worth $1,476,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of NKE. Legal & General Group Plc grew its holdings in shares of NIKE by 5.5% in the second quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock valued at $832,785,000 after purchasing an additional 571,544 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of NIKE by 0.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,025,616 shares of the footwear maker’s stock worth $454,151,000 after acquiring an additional 52,500 shares in the last quarter. Longview Partners Guernsey LTD purchased a new stake in shares of NIKE during the first quarter worth $533,533,000. Capital World Investors raised its stake in shares of NIKE by 612.2% in the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after acquiring an additional 4,457,376 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in NIKE by 2.3% in the first quarter. Clearbridge Investments LLC now owns 4,963,253 shares of the footwear maker’s stock valued at $466,447,000 after purchasing an additional 109,295 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NKE. Williams Trading upgraded NIKE from a “sell” rating to a “buy” rating and upped their price target for the stock from $67.00 to $93.00 in a report on Friday, August 16th. TD Cowen upped their target price on shares of NIKE from $71.00 to $78.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Sanford C. Bernstein lowered their price target on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a report on Thursday, September 19th. Robert W. Baird raised their price objective on shares of NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, September 20th. 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 stock. Based on data from MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and a consensus target price of $96.48.

NIKE Price Performance

Shares of NKE opened at $76.66 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The firm has a 50-day simple moving average of $80.89 and a 200-day simple moving average of $83.20. The company has a market capitalization of $114.94 billion, a price-to-earnings ratio of 21.97, a price-to-earnings-growth ratio of 1.86 and a beta of 1.03.

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

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.09%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is 42.41%.

About NIKE

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.