Swiss National Bank Purchases 9,000 Shares of NIKE, Inc. (NYSE:NKE)

Swiss National Bank increased its position in NIKE, Inc. (NYSE:NKE - Free Report) by 0.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,595,800 shares of the footwear maker's stock after acquiring an additional 9,000 shares during the quarter. Swiss National Bank owned about 0.24% of NIKE worth $317,869,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NKE. Longview Partners Guernsey LTD purchased a new position in NIKE during the 1st quarter valued at about $533,533,000. Capital World Investors grew its stake in NIKE by 612.2% during the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker's stock valued at $487,327,000 after acquiring an additional 4,457,376 shares in the last quarter. PineStone Asset Management Inc. grew its stake in NIKE by 138.3% during the second quarter. PineStone Asset Management Inc. now owns 2,715,689 shares of the footwear maker's stock valued at $204,681,000 after acquiring an additional 1,576,049 shares in the last quarter. Renaissance Technologies LLC increased its holdings in NIKE by 351.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker's stock worth $150,101,000 after acquiring an additional 1,550,611 shares during the period. Finally, KBC Group NV lifted its stake in NIKE by 145.2% in the 3rd quarter. KBC Group NV now owns 2,111,708 shares of the footwear maker's stock worth $186,675,000 after purchasing an additional 1,250,380 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

NIKE Trading Up 1.3 %

NYSE:NKE traded up $0.98 during midday trading on Friday, reaching $76.66. 13,584,939 shares of the stock traded hands, compared to its average volume of 9,020,337. The stock has a market capitalization of $114.94 billion, a P/E ratio of 21.97, a PEG 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 company has a fifty day moving average of $80.89 and a 200 day moving average of $83.15.

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, beating the consensus estimate of $0.52 by $0.18. The firm 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%. The company's quarterly revenue was down 10.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.94 earnings per share. On average, research analysts predict that NIKE, Inc. will post 2.74 EPS for the current year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a $0.40 dividend. This is a positive change 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%. The ex-dividend date of this dividend is Monday, December 2nd. NIKE's dividend payout ratio (DPR) is currently 42.41%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NKE. UBS Group upped their price target on shares of NIKE from $78.00 to $82.00 and gave the stock a "neutral" rating in a report on Wednesday, October 2nd. Sanford C. Bernstein decreased 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. Bank of America lowered their price target on NIKE from $104.00 to $100.00 and set a "buy" rating on the stock in a report on Wednesday, October 2nd. Stifel Nicolaus cut their price objective on NIKE from $88.00 to $79.00 and set a "hold" rating for the company in a report on Monday, August 26th. Finally, Truist Financial raised shares of NIKE from a "hold" rating to a "buy" rating and raised their target price for the company from $83.00 to $97.00 in a research note on Thursday, October 10th. Fourteen research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, NIKE presently has an average rating of "Moderate Buy" and a consensus target price of $96.48.

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.