Cinctive Capital Management LP Buys 13,856 Shares of NIKE, Inc. (NYSE:NKE)

Cinctive Capital Management LP boosted its stake in NIKE, Inc. (NYSE:NKE) by 48.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 42,578 shares of the footwear maker’s stock after acquiring an additional 13,856 shares during the period. Cinctive Capital Management LP’s holdings in NIKE were worth $3,764,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NKE. Teachers Insurance & Annuity Association of America bought a new stake in shares of NIKE in the 3rd quarter valued at $30,000. VitalStone Financial LLC grew its holdings in 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 acquiring an additional 150 shares during the period. Bruce G. Allen Investments LLC raised its position in shares of NIKE by 272.5% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after acquiring an additional 376 shares in the last quarter. Triad Wealth Partners LLC acquired a new position in shares of NIKE in the 2nd quarter valued at about $44,000. Finally, Riverview Trust Co bought a new stake in shares of NIKE during the 3rd quarter valued at about $52,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NYSE NKE opened at $79.09 on Tuesday. The company has a market capitalization of $118.58 billion, a PE ratio of 22.66, a PEG ratio of 1.91 and a beta of 1.02. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The stock’s 50 day moving average price is $80.18 and its 200-day moving average price is $82.03. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.18. The business had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business’s revenue was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.94 earnings per share. On average, equities analysts anticipate that NIKE, Inc. will post 2.75 EPS for the current year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors 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 dividend yield of 2.02%. The ex-dividend date is Monday, December 2nd. NIKE’s payout ratio is 42.41%.

Wall Street Analyst Weigh In

NKE has been the subject of a number of research analyst reports. Jefferies Financial Group lifted their target price on NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Monday, September 30th. Williams Trading upgraded shares of NIKE from a “sell” rating to a “buy” rating and lifted their price objective for the company from $67.00 to $93.00 in a research note on Friday, August 16th. Evercore ISI cut their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. Daiwa America downgraded shares of NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Finally, Barclays dropped their price objective on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 2nd. Fourteen analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and an average price target of $95.71.

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.