Cladis Investment Advisory LLC Boosts Stake in NIKE, Inc. (NYSE:NKE)

Cladis Investment Advisory LLC increased its stake in NIKE, Inc. (NYSE:NKE) by 12.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,927 shares of the footwear maker’s stock after acquiring an additional 995 shares during the period. Cladis Investment Advisory LLC’s holdings in NIKE were worth $789,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Garrison Point Advisors LLC grew its holdings in shares of NIKE by 1.9% in the third quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock worth $593,000 after purchasing an additional 126 shares during the last quarter. Stephens Consulting LLC boosted its position in NIKE by 20.0% in the 3rd quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock valued at $68,000 after buying an additional 128 shares during the period. PSI Advisors LLC grew its stake in NIKE by 26.3% in the 3rd quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock worth $55,000 after acquiring an additional 130 shares in the last quarter. Chapin Davis Inc. increased its position in shares of NIKE by 1.2% during the third quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock worth $1,010,000 after acquiring an additional 133 shares during the period. Finally, Meridian Financial Partners LLC raised its stake in shares of NIKE by 1.6% during the third quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock valued at $742,000 after acquiring an additional 133 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Barclays reduced their price objective on NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 2nd. UBS Group raised their price target on NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Truist Financial raised shares of NIKE from a “hold” rating to a “buy” rating and upped their price objective for the stock from $83.00 to $97.00 in a research note on Thursday, October 10th. Evercore ISI cut their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. Finally, Needham & Company LLC started coverage on shares of NIKE in a research report on Friday, November 22nd. They issued a “buy” rating and a $84.00 price target for the company. Fourteen equities research analysts have rated the stock with a hold rating and seventeen 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 $95.86.

NIKE Price Performance

NYSE NKE opened at $78.77 on Monday. The company has a market cap of $118.10 billion, a price-to-earnings ratio of 22.57, a PEG ratio of 1.91 and a beta of 1.03. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The stock’s fifty day moving average price is $80.18 and its 200 day moving average price is $82.03. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. During the same period in the prior year, the company earned $0.94 earnings per share. The company’s revenue was down 10.4% on a year-over-year basis. As a group, equities research analysts forecast that NIKE, Inc. will post 2.75 earnings per share for the current year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.03%. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, December 2nd. 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.