TrinityPoint Wealth LLC Has $2.53 Million Stock Position in NIKE, Inc. (NYSE:NKE)

TrinityPoint Wealth LLC increased its stake in NIKE, Inc. (NYSE:NKE) by 9.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 28,561 shares of the footwear maker’s stock after purchasing an additional 2,408 shares during the period. TrinityPoint Wealth LLC’s holdings in NIKE were worth $2,525,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. ING Groep NV acquired a new position in shares of NIKE in the 3rd quarter valued at approximately $29,628,000. Cordatus Wealth Management LLC increased its stake in NIKE by 19.5% in the third quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker’s stock valued at $3,669,000 after acquiring an additional 6,778 shares during the last quarter. Bristlecone Advisors LLC lifted its stake in NIKE by 14.3% during the third quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock worth $8,267,000 after purchasing an additional 11,665 shares during the last quarter. WoodTrust Financial Corp boosted its holdings in shares of NIKE by 19.9% in the 3rd 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 in the last quarter. Finally, Farmers & Merchants Investments Inc. increased its stake in shares of NIKE by 44.8% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 194,101 shares of the footwear maker’s stock valued at $17,159,000 after purchasing an additional 60,008 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on NKE. Daiwa America downgraded NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. TD Cowen raised their price target on shares of NIKE from $71.00 to $78.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. 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 report on Wednesday, October 2nd. Morgan Stanley increased their price objective on shares of NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Finally, Royal Bank of Canada decreased their target price on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. Fourteen research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and an average target price of $96.48.

NIKE Stock Up 1.3 %

Shares of NYSE:NKE opened at $76.66 on Monday. NIKE, Inc. has a 1 year low of $70.75 and a 1 year 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 business’s 50-day moving average is $80.89 and its 200-day moving average is $83.15. The company has a market capitalization 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 issued its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.18. The firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company’s revenue was down 10.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.94 earnings per share. Equities research analysts predict that NIKE, Inc. will post 2.74 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. Shareholders of record on Monday, December 2nd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.09%. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is presently 42.41%.

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.