J. W. Coons Advisors LLC Reduces Stock Holdings in NIKE, Inc. (NYSE:NKE)

J. W. Coons Advisors LLC reduced its position in NIKE, Inc. (NYSE:NKE) by 5.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,795 shares of the footwear maker’s stock after selling 2,020 shares during the period. J. W. Coons Advisors LLC’s holdings in NIKE were worth $3,341,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of NKE. Garrison Point Advisors LLC lifted its position in shares of NIKE by 1.9% during the third quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock worth $593,000 after purchasing an additional 126 shares in the last quarter. Stephens Consulting LLC boosted its holdings in NIKE by 20.0% during the third quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock worth $68,000 after buying an additional 128 shares during the last quarter. PSI Advisors LLC increased its stake in NIKE by 26.3% in the third quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock valued at $55,000 after purchasing an additional 130 shares in the last quarter. Pitcairn Co. increased its position in shares of NIKE by 0.5% in the 1st quarter. Pitcairn Co. now owns 29,067 shares of the footwear maker’s stock valued at $2,732,000 after buying an additional 132 shares in the last quarter. Finally, Chapin Davis Inc. raised its position in shares of NIKE by 1.2% during the third quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock worth $1,010,000 after purchasing an additional 133 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Trading Up 1.3 %

NYSE NKE opened at $76.66 on Monday. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The business has a fifty day simple moving average of $80.89 and a 200 day simple moving average of $83.15. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The firm has a market capitalization of $114.94 billion, a P/E ratio of 21.97, a PEG ratio of 1.86 and a beta of 1.03.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.18. The company had revenue of $11.59 billion during 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%. NIKE’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.94 EPS. On average, analysts predict that NIKE, Inc. will post 2.74 EPS for the current fiscal year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.40 per share. This is a boost 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 2.09%. NIKE’s payout ratio is presently 42.41%.

Analyst Ratings Changes

A number of brokerages recently weighed in on NKE. Daiwa America lowered shares of NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Sanford C. Bernstein reduced their price target on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a report on Thursday, September 19th. TD Cowen raised their price objective on NIKE from $71.00 to $78.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. 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 report on Wednesday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $96.48.

NIKE 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.