Immersion Capital LLP Takes Position in NIKE, Inc. (NYSE:NKE)

Immersion Capital LLP purchased a new stake in shares of NIKE, Inc. (NYSE:NKE) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 37,900 shares of the footwear maker’s stock, valued at approximately $3,350,000. NIKE comprises about 1.8% of Immersion Capital LLP’s investment portfolio, making the stock its 9th biggest position.

A number of other hedge funds and other institutional investors also recently modified their holdings of NKE. Teachers Insurance & Annuity Association of America bought a new position in shares of NIKE in the third quarter worth $30,000. VitalStone Financial LLC boosted its holdings in NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 150 shares during the last quarter. Bruce G. Allen Investments LLC boosted its holdings in NIKE by 272.5% in the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after acquiring an additional 376 shares during the last quarter. Triad Wealth Partners LLC bought a new stake in NIKE in the second quarter valued at approximately $44,000. Finally, MFA Wealth Advisors LLC bought a new position in shares of NIKE during the 2nd quarter worth approximately $46,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

NKE has been the topic of a number of recent research reports. Guggenheim cut their target price on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Daiwa America downgraded NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. UBS Group raised their price objective on NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Royal Bank of Canada decreased their price target on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. Finally, Robert W. Baird lifted their price target on NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Fourteen analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and a consensus price target of $95.71.

NIKE Price Performance

NKE stock traded down $0.84 during trading on Tuesday, hitting $78.25. 1,547,824 shares of the stock traded hands, compared to its average volume of 11,452,955. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The stock has a market cap of $117.32 billion, a price-to-earnings ratio of 22.66, a P/E/G ratio of 1.91 and a beta of 1.02. The company has a 50 day simple moving average of $80.18 and a 200 day simple moving average of $82.03. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last announced 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. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same period in the previous year, the firm posted $0.94 earnings per share. The company’s revenue was down 10.4% on a year-over-year basis. Equities analysts expect that NIKE, Inc. will post 2.75 EPS 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 issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.04%. This is a boost from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is currently 42.41%.

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.