SevenBridge Financial Group LLC Purchases 315 Shares of NIKE, Inc. (NYSE:NKE)

SevenBridge Financial Group LLC increased its position in NIKE, Inc. (NYSE:NKE) by 1.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,398 shares of the footwear maker’s stock after buying an additional 315 shares during the quarter. SevenBridge Financial Group LLC’s holdings in NIKE were worth $1,715,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC increased its position in shares of NIKE by 97.6% in the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 200 shares during the period. VitalStone Financial LLC grew its stake in shares of NIKE by 52.6% in 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 last quarter. Bruce G. Allen Investments LLC grew its stake in shares of NIKE by 272.5% in the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after purchasing an additional 376 shares during the last quarter. Triad Wealth Partners LLC purchased a new position in NIKE during the 2nd quarter valued at about $44,000. Finally, MFA Wealth Advisors LLC bought a new position in NIKE during the 2nd quarter valued at approximately $46,000. 64.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NKE has been the topic of a number of recent analyst reports. Guggenheim cut their price objective on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Daiwa America downgraded shares of NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Royal Bank of Canada decreased their price objective on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a report on Thursday, November 7th. Needham & Company LLC assumed coverage on shares of NIKE in a research note on Friday. They set a “buy” rating and a $84.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. 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, NIKE has a consensus rating of “Moderate Buy” and an average price target of $95.86.

NIKE Stock Up 3.1 %

NIKE stock opened at $77.40 on Friday. The firm has a market cap of $116.05 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 1.82 and a beta of 1.03. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The stock has a fifty day simple moving average of $80.51 and a two-hundred day simple moving average of $82.59.

NIKE (NYSE:NKE) last issued its earnings results 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 business had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. NIKE’s revenue was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.94 EPS. Equities analysts predict that NIKE, Inc. will post 2.75 EPS for the current fiscal year.

NIKE Increases Dividend

The business 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 dividend of $0.40 per share. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.07%. NIKE’s dividend payout ratio 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.