Asset Dedication LLC lifted its position in shares of Nike, Inc. (NYSE:NKE) by 23.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,705 shares of the footwear maker’s stock after purchasing an additional 2,801 shares during the period. Asset Dedication LLC’s holdings in Nike were worth $758,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NKE. Asset Planning Services Ltd. raised its holdings in Nike by 0.3% in the second quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock valued at $126,000 after acquiring an additional 7 shares in the last quarter. Stearns Financial Services Group raised its holdings in Nike by 0.4% in the second quarter. Stearns Financial Services Group now owns 4,160 shares of the footwear maker’s stock valued at $245,000 after acquiring an additional 17 shares in the last quarter. Accredited Investors Inc. raised its holdings in Nike by 0.5% in the first quarter. Accredited Investors Inc. now owns 4,167 shares of the footwear maker’s stock valued at $232,000 after acquiring an additional 19 shares in the last quarter. Smith Shellnut Wilson LLC ADV raised its holdings in Nike by 0.3% in the second quarter. Smith Shellnut Wilson LLC ADV now owns 14,894 shares of the footwear maker’s stock valued at $822,000 after acquiring an additional 41 shares in the last quarter. Finally, Buckingham Asset Management LLC raised its holdings in Nike by 0.7% in the second quarter. Buckingham Asset Management LLC now owns 6,797 shares of the footwear maker’s stock valued at $401,000 after acquiring an additional 45 shares in the last quarter. 62.78% of the stock is currently owned by institutional investors and hedge funds.

Several analysts recently issued reports on the stock. B. Riley reaffirmed a “neutral” rating on shares of Nike in a report on Wednesday, November 1st. OTR Global raised shares of Nike to a “positive” rating in a report on Monday. FBR & Co reaffirmed a “hold” rating and issued a $53.00 price target on shares of Nike in a report on Thursday, September 14th. Susquehanna Bancshares reaffirmed a “neutral” rating and issued a $64.00 price target on shares of Nike in a report on Tuesday, September 19th. Finally, Raymond James Financial cut their price target on shares of Nike from $71.00 to $67.00 and set an “outperform” rating on the stock in a report on Tuesday, September 19th. Three analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and twenty have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $59.01.

Nike, Inc. (NKE) traded up $0.70 during trading on Monday, hitting $61.30. 6,065,200 shares of the stock traded hands, compared to its average volume of 9,549,633. The company has a market capitalization of $100,011.99, a price-to-earnings ratio of 26.08, a P/E/G ratio of 2.87 and a beta of 0.64. The company has a quick ratio of 1.81, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. Nike, Inc. has a fifty-two week low of $50.35 and a fifty-two week high of $61.37.

Nike (NYSE:NKE) last released its quarterly earnings results on Tuesday, September 26th. The footwear maker reported $0.57 EPS for the quarter, topping the consensus estimate of $0.48 by $0.09. The business had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.08 billion. Nike had a net margin of 11.47% and a return on equity of 31.88%. The company’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.73 earnings per share. research analysts expect that Nike, Inc. will post 2.28 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Monday, December 4th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, December 1st. This represents a $0.80 annualized dividend and a dividend yield of 1.31%. This is a positive change from Nike’s previous quarterly dividend of $0.18. Nike’s dividend payout ratio is currently 34.04%.

In other news, Chairman Mark G. Parker sold 135,000 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $55.03, for a total transaction of $7,429,050.00. Following the completion of the transaction, the chairman now owns 1,637,736 shares in the company, valued at $90,124,612.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Johnathan A. Rodgers sold 16,000 shares of the company’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $53.45, for a total transaction of $855,200.00. Following the transaction, the director now owns 25,660 shares of the company’s stock, valued at approximately $1,371,527. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by corporate insiders.

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About Nike

NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.

Institutional Ownership by Quarter for Nike (NYSE:NKE)

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