Linscomb Wealth Inc. boosted its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 2,163.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 77,174 shares of the footwear maker's stock after purchasing an additional 73,764 shares during the quarter. Linscomb Wealth Inc.'s holdings in NIKE were worth $6,822,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the business. ING Groep NV purchased a new position in NIKE in the third quarter worth $29,628,000. Cordatus Wealth Management LLC boosted its position in NIKE by 19.5% in the third quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker's stock worth $3,669,000 after purchasing an additional 6,778 shares during the last quarter. Bristlecone Advisors LLC boosted its position in NIKE by 14.3% in the third quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker's stock worth $8,267,000 after purchasing an additional 11,665 shares during the last quarter. WoodTrust Financial Corp boosted its position in NIKE by 19.9% in the third quarter. WoodTrust Financial Corp now owns 98,289 shares of the footwear maker's stock worth $8,689,000 after purchasing an additional 16,303 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. boosted its position in NIKE by 44.8% in the third quarter. Farmers & Merchants Investments Inc. now owns 194,101 shares of the footwear maker's stock worth $17,159,000 after purchasing an additional 60,008 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
NKE has been the topic of several research analyst reports. Piper Sandler reissued a "neutral" rating and issued a $80.00 price objective on shares of NIKE in a research report on Friday, September 20th. Robert W. Baird boosted their target price on NIKE from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Friday, September 20th. Royal Bank of Canada lowered their target price 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. Sanford C. Bernstein lowered their target price on NIKE from $112.00 to $109.00 and set an "outperform" rating on the stock in a research note on Thursday, September 19th. Finally, Stifel Nicolaus lowered their target price on NIKE from $88.00 to $79.00 and set a "hold" rating on the stock in a research note on Monday, August 26th. Fourteen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $96.48.
Check Out Our Latest Analysis on NIKE
NIKE Stock Up 1.3 %
NYSE:NKE traded up $0.98 during trading hours on Friday, reaching $76.66. The company's stock had a trading volume of 13,558,337 shares, compared to its average volume of 11,489,007. The company has a market capitalization of $114.94 billion, a P/E ratio of 21.88, a price-to-earnings-growth ratio of 1.86 and a beta of 1.03. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The stock has a 50 day moving average price of $80.97 and a two-hundred day moving average price of $83.39.
NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.52 by $0.18. The company had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. NIKE's revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.94 earnings per share. Equities analysts predict that NIKE, Inc. will post 2.74 EPS for the current fiscal year.
NIKE Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a dividend of $0.40 per share. The ex-dividend date is Monday, December 2nd. 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 2.09%. NIKE's dividend payout ratio is presently 42.41%.
NIKE Profile
(
Free Report)
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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