Cerity Partners LLC Increases Holdings in NIKE, Inc. (NYSE:NKE)

Cerity Partners LLC raised its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 34.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 490,149 shares of the footwear maker's stock after acquiring an additional 126,080 shares during the period. Cerity Partners LLC's holdings in NIKE were worth $31,126,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of NKE. Heck Capital Advisors LLC purchased a new position in NIKE in the 4th quarter worth about $28,000. EnRich Financial Partners LLC grew its stake in shares of NIKE by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker's stock worth $31,000 after acquiring an additional 273 shares during the period. Ritter Daniher Financial Advisory LLC DE raised its holdings in shares of NIKE by 95.1% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 513 shares of the footwear maker's stock valued at $39,000 after purchasing an additional 250 shares during the last quarter. Putney Financial Group LLC bought a new position in NIKE during the fourth quarter valued at approximately $40,000. Finally, Minot DeBlois Advisors LLC purchased a new stake in NIKE in the fourth quarter worth approximately $42,000. Hedge funds and other institutional investors own 64.25% of the company's stock.

NIKE Trading Down 2.6%

Shares of NIKE stock opened at $72.66 on Friday. The firm has a market cap of $107.47 billion, a price-to-earnings ratio of 33.64, a PEG ratio of 2.63 and a beta of 1.25. The business has a 50-day moving average price of $64.06 and a 200-day moving average price of $67.33. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $90.62.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. NIKE had a return on equity of 23.33% and a net margin of 6.95%. The company had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.69 billion. During the same period in the prior year, the company earned $0.99 earnings per share. The firm's revenue was down 11.9% on a year-over-year basis. Equities research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 2nd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend was Monday, June 2nd. NIKE's dividend payout ratio (DPR) is presently 74.07%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. HSBC upgraded shares of NIKE from a "hold" rating to a "buy" rating and set a $80.00 target price for the company in a research note on Friday, June 27th. Evercore ISI dropped their target price on NIKE from $97.00 to $75.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 24th. Jefferies Financial Group reaffirmed a "buy" rating on shares of NIKE in a research report on Friday, May 23rd. UBS Group began coverage on shares of NIKE in a research note on Sunday, July 6th. They issued a "buy" rating on the stock. Finally, BMO Capital Markets cut their target price on shares of NIKE from $95.00 to $92.00 and set an "outperform" rating for the company in a research report on Friday, March 21st. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, NIKE currently has a consensus rating of "Moderate Buy" and a consensus price target of $77.15.

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.

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