LPL Financial LLC Boosts Stake in NIKE, Inc. (NYSE:NKE)

LPL Financial LLC lifted its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 19.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,028,131 shares of the footwear maker's stock after purchasing an additional 166,127 shares during the period. LPL Financial LLC owned about 0.07% of NIKE worth $90,887,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of NKE. Advisors Asset Management Inc. raised its position in NIKE by 86.0% during the first quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker's stock worth $1,970,000 after acquiring an additional 9,689 shares during the period. LRI Investments LLC acquired a new position in shares of NIKE during the 1st quarter worth about $127,000. Epoch Investment Partners Inc. lifted its stake in NIKE by 1.6% in the 1st quarter. Epoch Investment Partners Inc. now owns 14,326 shares of the footwear maker's stock valued at $1,346,000 after buying an additional 227 shares in the last quarter. Transcendent Capital Group LLC boosted its holdings in NIKE by 97.6% in the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker's stock worth $38,000 after buying an additional 200 shares during the last quarter. Finally, Waverly Advisors LLC raised its holdings in shares of NIKE by 33.2% during the first quarter. Waverly Advisors LLC now owns 11,758 shares of the footwear maker's stock valued at $1,105,000 after acquiring an additional 2,931 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company's stock.

NIKE Stock Up 3.1 %

NKE traded up $2.30 during trading hours on Friday, hitting $77.40. 12,248,575 shares of the company's stock were exchanged, compared to its average volume of 10,349,345. 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, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The firm has a market cap of $116.05 billion, a P/E ratio of 22.18, a price-to-earnings-growth ratio of 1.82 and a beta of 1.03. The firm has a 50 day moving average of $80.51 and a 200 day moving average of $82.52.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data 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 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 company's revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period last year, the firm earned $0.94 earnings per share. Analysts predict that NIKE, Inc. will post 2.75 EPS for the current fiscal year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a $0.40 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.07%. This is an increase from NIKE's previous quarterly dividend of $0.37. NIKE's payout ratio is currently 42.41%.

Analyst Ratings Changes

Several brokerages recently commented on NKE. Morgan Stanley boosted their price target on NIKE from $79.00 to $82.00 and gave the stock an "equal weight" rating in a research report on Wednesday, September 25th. Wells Fargo & Company upped their price objective on shares of NIKE from $86.00 to $95.00 and gave the company an "overweight" rating in a research note on Friday, September 20th. Telsey Advisory Group decreased their target price on shares of NIKE from $100.00 to $96.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 2nd. Truist Financial upgraded NIKE from a "hold" rating to a "buy" rating and upped their price target for the company from $83.00 to $97.00 in a research report on Thursday, October 10th. Finally, UBS Group lifted their price objective on NIKE from $78.00 to $82.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 2nd. Fourteen research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $95.86.

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.