6,920 Shares in NIKE, Inc. (NYSE:NKE) Acquired by Kovack Advisors Inc.

Kovack Advisors Inc. purchased a new position in NIKE, Inc. (NYSE:NKE) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,920 shares of the footwear maker’s stock, valued at approximately $612,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Transcendent Capital Group LLC increased its holdings in NIKE by 97.6% during the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 200 shares in the last quarter. VitalStone Financial LLC grew its holdings in NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after buying an additional 150 shares in the last quarter. Bruce G. Allen Investments LLC raised its position in NIKE by 272.5% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after buying an additional 376 shares during the last quarter. Triad Wealth Partners LLC bought a new position in NIKE during the 2nd quarter valued at $44,000. Finally, MFA Wealth Advisors LLC purchased a new position in NIKE during the 2nd quarter worth $46,000. Institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

NKE has been the subject of several analyst reports. JPMorgan Chase & Co. lowered their target price on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. TD Cowen increased their target price on shares of NIKE from $71.00 to $78.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Telsey Advisory Group decreased their target price on NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Sanford C. Bernstein dropped their price target on NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research report on Thursday, September 19th. Finally, Daiwa America downgraded NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Fourteen research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $96.48.

NIKE Trading Down 1.1 %

NYSE NKE opened at $75.67 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The stock has a market cap of $113.46 billion, a P/E ratio of 21.68, a price-to-earnings-growth ratio of 1.86 and a beta of 1.03. The stock has a 50 day simple moving average of $81.07 and a two-hundred day simple moving average of $83.44.

NIKE (NYSE:NKE) last announced 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 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%. NIKE’s quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.94 earnings per share. On average, analysts forecast that NIKE, Inc. will post 2.74 earnings per share for the current year.

NIKE Increases Dividend

The company also recently disclosed 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 is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a yield of 2.11%. NIKE’s dividend payout ratio is 42.41%.

NIKE 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.