NIKE, Inc. (NYSE:NKE) Shares Sold by Taurus Asset Management LLC

Taurus Asset Management LLC lessened its holdings in shares of NIKE, Inc. (NYSE:NKE) by 12.8% in the 3rd quarter, Holdings Channel reports. The fund owned 204,626 shares of the footwear maker’s stock after selling 29,966 shares during the quarter. NIKE accounts for 1.8% of Taurus Asset Management LLC’s holdings, making the stock its 26th largest holding. Taurus Asset Management LLC’s holdings in NIKE were worth $18,089,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of NKE. Transcendent Capital Group LLC grew 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 purchasing an additional 200 shares in the last quarter. VitalStone Financial LLC increased its stake in shares of NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after acquiring an additional 150 shares during the last quarter. Bruce G. Allen Investments LLC raised its holdings 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 worth $39,000 after acquiring an additional 376 shares during the period. Triad Wealth Partners LLC acquired a new position in shares of NIKE during the 2nd quarter valued at about $44,000. Finally, Riverview Trust Co purchased a new stake in shares of NIKE in the third quarter valued at about $52,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Up 1.3 %

NIKE stock opened at $76.66 on Monday. The stock has a market cap of $114.94 billion, a PE ratio of 21.97, a P/E/G ratio of 1.86 and a beta of 1.03. 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 stock’s fifty day moving average is $80.89 and its two-hundred day moving average is $83.15. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39.

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 the consensus estimate of $0.52 by $0.18. The business had revenue of $11.59 billion for 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%. The business’s quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter last year, the company earned $0.94 EPS. On average, sell-side analysts expect that NIKE, Inc. will post 2.74 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. Stockholders of record on Monday, December 2nd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is currently 42.41%.

Analysts Set New Price Targets

Several research firms have weighed in on NKE. JPMorgan Chase & Co. decreased their target price on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Robert W. Baird upped their price objective on NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Telsey Advisory Group reduced their target price on NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. Bank of America decreased their price target on NIKE from $104.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Finally, Guggenheim decreased their target price on shares of NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research report 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.com, NIKE has an average rating of “Moderate Buy” and an average price target of $96.48.

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.