W.G. Shaheen & Associates DBA Whitney & Co Acquires 38,651 Shares of NIKE, Inc. (NYSE:NKE)

W.G. Shaheen & Associates DBA Whitney & Co grew its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 52.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,683 shares of the footwear maker's stock after acquiring an additional 38,651 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co's holdings in NIKE were worth $9,961,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ontario Teachers Pension Plan Board acquired a new position in NIKE during the 1st quarter valued at about $868,000. Edgestream Partners L.P. bought a new stake in NIKE during the first quarter worth approximately $727,000. Covestor Ltd raised its holdings in NIKE by 51.4% during the first quarter. Covestor Ltd now owns 825 shares of the footwear maker's stock worth $77,000 after purchasing an additional 280 shares in the last quarter. O Shaughnessy Asset Management LLC raised its holdings in NIKE by 2.2% during the first quarter. O Shaughnessy Asset Management LLC now owns 95,990 shares of the footwear maker's stock worth $9,021,000 after purchasing an additional 2,075 shares in the last quarter. Finally, Seven Eight Capital LP bought a new stake in NIKE during the first quarter worth approximately $612,000. Institutional investors and hedge funds own 64.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Robert W. Baird boosted their target price on NIKE from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Friday, September 20th. Piper Sandler reissued a "neutral" rating and issued a $80.00 price target on shares of NIKE in a report on Friday, September 20th. UBS Group lifted their target price on shares of NIKE from $78.00 to $82.00 and gave the company a "neutral" rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. cut their price target on shares of NIKE from $80.00 to $77.00 and set a "neutral" rating for the company in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company boosted their price target on NIKE from $86.00 to $95.00 and gave the company an "overweight" rating in a research note on Friday, September 20th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, NIKE presently has a consensus rating of "Moderate Buy" and an average target price of $96.30.

NIKE Stock Performance

Shares of NYSE NKE traded down $1.00 during mid-day trading on Tuesday, reaching $73.89. 7,648,958 shares of the company were exchanged, compared to its average volume of 11,475,961. The company's 50-day simple moving average is $80.79 and its 200-day simple moving average is $83.03. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $110.79 billion, a P/E ratio of 21.45, a P/E/G ratio of 1.86 and a beta of 1.03. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business had revenue of $11.59 billion during the quarter, compared to analysts' expectations of $11.64 billion. During the same quarter in the previous year, the company earned $0.94 EPS. The business's revenue was down 10.4% on a year-over-year basis. As a group, research analysts predict that NIKE, Inc. will post 2.74 earnings per share for the current year.

NIKE Increases Dividend

The company also recently announced 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. The ex-dividend date is Monday, December 2nd. This is a boost from NIKE's previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.17%. NIKE's payout ratio is presently 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.