Motley Fool Asset Management LLC Purchases 2,998 Shares of NIKE, Inc. (NYSE:NKE)

Motley Fool Asset Management LLC boosted its position in shares of NIKE, Inc. (NYSE:NKE) by 4.6% in the third quarter, Holdings Channel reports. The fund owned 67,805 shares of the footwear maker’s stock after purchasing an additional 2,998 shares during the quarter. Motley Fool Asset Management LLC’s holdings in NIKE were worth $6,043,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Teachers Insurance & Annuity Association of America bought a new position in shares of NIKE in the third quarter worth about $30,000. VitalStone Financial LLC raised its position in shares of NIKE by 52.6% during the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after buying an additional 150 shares in the last quarter. Bruce G. Allen Investments LLC increased its position 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 valued at $39,000 after purchasing an additional 376 shares during the last quarter. Triad Wealth Partners LLC purchased a new position in shares of NIKE during the 2nd quarter worth about $44,000. Finally, MFA Wealth Advisors LLC bought a new stake in shares of NIKE during the 2nd quarter worth approximately $46,000. Institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NYSE NKE opened at $78.86 on Wednesday. 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 stock has a market cap of $118.24 billion, a price-to-earnings ratio of 22.60, a PEG ratio of 1.92 and a beta of 1.02. The company’s 50-day moving average price is $79.87 and its 200 day moving average price is $81.84. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. During the same period in the prior year, the business earned $0.94 earnings per share. The company’s quarterly revenue was down 10.4% on a year-over-year basis. As a group, research analysts forecast that NIKE, Inc. will post 2.75 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company 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 $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is currently 45.85%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NKE. UBS Group lifted their price target on shares of NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus lowered their price target on NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research report on Monday, August 26th. Morgan Stanley lifted their price target on NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Jefferies Financial Group lifted their target price on shares of NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research note on Monday, September 30th. Finally, JPMorgan Chase & Co. cut their target price on NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research note on Monday. Fourteen research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $95.71.

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.