Prospera Private Wealth LLC Makes New Investment in NIKE, Inc. (NYSE:NKE)

Prospera Private Wealth LLC purchased a new position in shares of NIKE, Inc. (NYSE:NKE) in the third quarter, Holdings Channel.com reports. The firm purchased 4,540 shares of the footwear maker’s stock, valued at approximately $401,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NKE. Edgestream Partners L.P. purchased a new stake in shares of NIKE during the 1st quarter worth about $727,000. Covestor Ltd raised its stake in shares of NIKE by 51.4% during the 1st quarter. Covestor Ltd now owns 825 shares of the footwear maker’s stock worth $77,000 after purchasing an additional 280 shares in the last quarter. Seven Eight Capital LP bought a new position in shares of NIKE in the 1st quarter valued at approximately $612,000. Shell Asset Management Co. raised its stake in shares of NIKE by 21.1% in the 1st quarter. Shell Asset Management Co. now owns 16,342 shares of the footwear maker’s stock valued at $1,536,000 after acquiring an additional 2,850 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its stake in shares of NIKE by 86.0% in the 1st quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock valued at $1,970,000 after acquiring an additional 9,689 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Down 0.8 %

NYSE:NKE opened at $73.33 on Thursday. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. 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 $109.95 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 1.86 and a beta of 1.03. The stock has a 50-day moving average price of $80.61 and a two-hundred day moving average price of $82.83.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. During the same period in the previous year, the firm earned $0.94 earnings per share. The company’s revenue was down 10.4% on a year-over-year basis. As a group, equities analysts expect that NIKE, Inc. will post 2.74 earnings per share for the current 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 paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.18%. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, December 2nd. NIKE’s payout ratio is presently 45.85%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Morgan Stanley raised their price objective on NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. UBS Group raised their target price on NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. TD Cowen decreased their price objective on NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a report on Monday. Royal Bank of Canada decreased 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. Finally, Stifel Nicolaus decreased their price target on NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a research note on Monday, August 26th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and a consensus price target of $96.30.

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.