Prudent Man Advisors LLC Has $760,000 Stock Holdings in NIKE, Inc. (NYSE:NKE)

Prudent Man Advisors LLC boosted its stake in NIKE, Inc. (NYSE:NKE) by 42.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 8,594 shares of the footwear maker’s stock after acquiring an additional 2,544 shares during the quarter. Prudent Man Advisors LLC’s holdings in NIKE were worth $760,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC increased its holdings in NIKE by 97.6% in the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $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 third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after buying an additional 150 shares during the period. Bruce G. Allen Investments LLC increased 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 valued at $39,000 after buying an additional 376 shares during the period. Triad Wealth Partners LLC bought a new position in NIKE in the 2nd quarter valued at approximately $44,000. Finally, Riverview Trust Co bought a new position in NIKE in the 3rd quarter valued at approximately $52,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Morgan Stanley boosted their target price on shares of NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Williams Trading upgraded NIKE from a “sell” rating to a “buy” rating and increased their price objective for the company from $67.00 to $93.00 in a report on Friday, August 16th. Robert W. Baird lifted their target price on NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Jefferies Financial Group upped their price target on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Monday, September 30th. Finally, Barclays decreased their price target on NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.48.

NIKE Trading Up 1.3 %

NYSE NKE opened at $76.66 on Monday. The business has a 50 day moving average price of $80.89 and a 200-day moving average price of $83.15. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The company has a market cap of $114.94 billion, a price-to-earnings ratio of 21.97, a P/E/G ratio of 1.86 and a beta of 1.03.

NIKE (NYSE:NKE) last posted 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 company had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm’s revenue was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.94 EPS. As a group, equities analysts expect that NIKE, Inc. will post 2.74 earnings per share for the current fiscal year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.60 annualized dividend and a yield of 2.09%. This is an increase from NIKE’s previous quarterly dividend of $0.37. 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.