Cladis Investment Advisory LLC Grows Stock Position in NIKE, Inc. (NYSE:NKE)

Cladis Investment Advisory LLC lifted its stake in NIKE, Inc. (NYSE:NKE) by 12.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,927 shares of the footwear maker’s stock after buying an additional 995 shares during the quarter. Cladis Investment Advisory LLC’s holdings in NIKE were worth $789,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NKE. Coastwise Capital Group LLC boosted its holdings in NIKE by 21.2% during the third quarter. Coastwise Capital Group LLC now owns 3,299 shares of the footwear maker’s stock worth $292,000 after buying an additional 577 shares in the last quarter. Community Bank N.A. boosted its stake in shares of NIKE by 8.5% during the 3rd quarter. Community Bank N.A. now owns 21,460 shares of the footwear maker’s stock worth $1,897,000 after acquiring an additional 1,675 shares in the last quarter. ArrowMark Colorado Holdings LLC grew its position in shares of NIKE by 76.0% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 23,154 shares of the footwear maker’s stock valued at $2,047,000 after acquiring an additional 10,000 shares during the period. Beacon Investment Advisory Services Inc. increased its stake in shares of NIKE by 74.8% in the 3rd quarter. Beacon Investment Advisory Services Inc. now owns 7,832 shares of the footwear maker’s stock valued at $692,000 after purchasing an additional 3,352 shares in the last quarter. Finally, Benjamin Edwards Inc. raised its holdings in NIKE by 3,520.3% in the 3rd quarter. Benjamin Edwards Inc. now owns 106,146 shares of the footwear maker’s stock worth $9,383,000 after purchasing an additional 103,214 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Price Performance

NKE stock opened at $78.77 on Monday. 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 stock has a market cap of $118.10 billion, a price-to-earnings ratio of 22.57, a price-to-earnings-growth ratio of 1.91 and a beta of 1.03. The business has a fifty day moving average of $80.18 and a two-hundred day moving average of $82.03.

NIKE (NYSE:NKE) last released its quarterly 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. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. During the same period in the prior year, the business posted $0.94 EPS. The company’s revenue was down 10.4% compared to the same quarter last year. As a group, research analysts anticipate that NIKE, Inc. will post 2.75 earnings per share for the current year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.03%. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, December 2nd. NIKE’s payout ratio is 42.41%.

Wall Street Analyst Weigh In

NKE has been the subject of a number of recent analyst reports. Robert W. Baird boosted their price objective on NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a research 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 for the company in a research report on Wednesday, October 2nd. Needham & Company LLC initiated coverage on shares of NIKE in a research report on Friday, November 22nd. They issued a “buy” rating and a $84.00 target price on the stock. JPMorgan Chase & Co. reduced their price target on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Finally, Royal Bank of Canada lowered their price objective on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a report on Thursday, November 7th. Fourteen research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $95.86.

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.