Associated Banc Corp Decreases Stake in NIKE, Inc. (NYSE:NKE)

Associated Banc Corp lessened its stake in shares of NIKE, Inc. (NYSE:NKE) by 9.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 64,254 shares of the footwear maker’s stock after selling 6,930 shares during the period. Associated Banc Corp’s holdings in NIKE were worth $5,680,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. VitalStone Financial LLC boosted 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 worth $38,000 after purchasing an additional 150 shares during the period. Bruce G. Allen Investments LLC lifted 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 worth $39,000 after buying an additional 376 shares during the last quarter. Triad Wealth Partners LLC acquired a new stake in shares of NIKE in the 2nd quarter valued at about $44,000. MFA Wealth Advisors LLC acquired a new stake in shares of NIKE during the second quarter worth $46,000. Finally, Lynx Investment Advisory acquired a new position in NIKE in the 2nd quarter valued at $47,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Williams Trading raised NIKE from a “sell” rating to a “buy” rating and upped their price objective for the stock from $67.00 to $93.00 in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Bank of America dropped their price objective on NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Needham & Company LLC began coverage on NIKE in a research note on Friday. They issued a “buy” rating and a $84.00 target price on the stock. Finally, Barclays dropped their price target on NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and a consensus target price of $95.86.

NIKE Stock Up 2.4 %

Shares of NIKE stock opened at $79.26 on Tuesday. The firm has a market cap of $118.84 billion, a P/E ratio of 22.71, a P/E/G ratio of 1.88 and a beta of 1.03. The business has a 50-day moving average price of $80.50 and a 200 day moving average price of $82.42. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The company had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm’s revenue was down 10.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.94 earnings per share. On average, sell-side 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. Investors of record on Monday, December 2nd will be given a $0.40 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.02%. NIKE’s dividend payout ratio (DPR) is currently 45.85%.

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.