Coastwise Capital Group LLC Boosts Stock Holdings in NIKE, Inc. (NYSE:NKE)

Coastwise Capital Group LLC boosted its position in NIKE, Inc. (NYSE:NKE) by 21.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,299 shares of the footwear maker’s stock after purchasing an additional 577 shares during the period. Coastwise Capital Group LLC’s holdings in NIKE were worth $292,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in NKE. ING Groep NV bought a new stake in NIKE in the 3rd quarter valued at about $29,628,000. Cordatus Wealth Management LLC raised its position in shares of NIKE by 19.5% in the third quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker’s stock valued at $3,669,000 after purchasing an additional 6,778 shares during the period. Bristlecone Advisors LLC lifted its stake in shares of NIKE by 14.3% during the 3rd quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock valued at $8,267,000 after buying an additional 11,665 shares in the last quarter. Lazard Freres Gestion S.A.S. boosted its holdings in NIKE by 23.2% in the 3rd quarter. Lazard Freres Gestion S.A.S. now owns 747,675 shares of the footwear maker’s stock worth $66,094,000 after buying an additional 140,632 shares during the period. Finally, D.A. Davidson & CO. grew its stake in NIKE by 11.8% in the 3rd quarter. D.A. Davidson & CO. now owns 104,951 shares of the footwear maker’s stock valued at $9,278,000 after buying an additional 11,108 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

NIKE Trading Up 0.5 %

NYSE NKE opened at $78.77 on Monday. The stock has a market cap of $118.10 billion, a P/E ratio of 22.57, a P/E/G ratio of 1.91 and a beta of 1.03. 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 stock’s fifty day moving average price is $80.18 and its 200-day moving average price is $82.03.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) 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 firm had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. During the same period in the prior year, the company posted $0.94 earnings per share. The company’s quarterly revenue was down 10.4% on a year-over-year basis. As a group, equities analysts forecast that NIKE, Inc. will post 2.75 EPS for the current fiscal year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.03%. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, December 2nd. NIKE’s payout ratio is presently 42.41%.

Analysts Set New Price Targets

Several research firms have issued reports on NKE. Daiwa America downgraded NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Piper Sandler reissued a “neutral” rating and set a $80.00 price objective on shares of NIKE in a report on Friday, September 20th. Telsey Advisory Group decreased their price target on NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. UBS Group raised their price objective 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. Finally, TD Cowen decreased their target price on shares of NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, November 18th. Fourteen analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $95.86.

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.