NIKE, Inc. (NYSE:NKE) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its position in shares of NIKE, Inc. (NYSE:NKE) by 7.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 185,320 shares of the footwear maker’s stock after buying an additional 12,351 shares during the quarter. CIBC Asset Management Inc’s holdings in NIKE were worth $16,382,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in NKE. ING Groep NV purchased a new position in shares of NIKE during the third quarter valued at approximately $29,628,000. Cordatus Wealth Management LLC boosted its holdings in shares of NIKE by 19.5% during the third quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker’s stock worth $3,669,000 after purchasing an additional 6,778 shares during the last quarter. Bristlecone Advisors LLC grew its position in shares of NIKE by 14.3% in the third quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock valued at $8,267,000 after purchasing an additional 11,665 shares during the period. WoodTrust Financial Corp increased its stake in NIKE by 19.9% in the third quarter. WoodTrust Financial Corp now owns 98,289 shares of the footwear maker’s stock valued at $8,689,000 after purchasing an additional 16,303 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. lifted its position in NIKE by 44.8% during the third quarter. Farmers & Merchants Investments Inc. now owns 194,101 shares of the footwear maker’s stock worth $17,159,000 after buying an additional 60,008 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Stock Up 1.3 %

NKE stock opened at $76.66 on Friday. The firm 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. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. 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 firm has a 50 day simple moving average of $80.97 and a 200 day simple moving average of $83.39.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The business had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company’s quarterly revenue was down 10.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.94 EPS. Equities research analysts forecast that NIKE, Inc. will post 2.74 earnings per share for the current fiscal year.

NIKE Increases Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Monday, December 2nd. This is a boost from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio (DPR) is 42.41%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. 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 research report on Wednesday, October 2nd. Guggenheim reduced their target price on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Evercore ISI dropped their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Telsey Advisory Group reduced their target price on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. Finally, Barclays lowered their price target on NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a 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. According to MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and an average target price 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.