NIKE, Inc. (NYSE:NKE) Shares Bought by Intellectus Partners LLC

Intellectus Partners LLC increased its stake in NIKE, Inc. (NYSE:NKE) by 54.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,698 shares of the footwear maker’s stock after buying an additional 4,102 shares during the quarter. Intellectus Partners LLC’s holdings in NIKE were worth $1,038,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Longview Partners Guernsey LTD acquired a new position in shares of NIKE during the first quarter worth $533,533,000. Capital World Investors boosted its position in NIKE by 612.2% in the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after buying an additional 4,457,376 shares during the last quarter. PineStone Asset Management Inc. grew its stake in shares of 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 position in shares of NIKE by 351.7% during the second 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 last quarter. Finally, KBC Group NV lifted its stake in shares of NIKE by 145.2% in the third quarter. KBC Group NV now owns 2,111,708 shares of the footwear maker’s stock worth $186,675,000 after acquiring an additional 1,250,380 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Daiwa America lowered NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Piper Sandler reissued a “neutral” rating and set a $80.00 price target on shares of NIKE in a research report on Friday, September 20th. Wells Fargo & Company upped their price target on shares of NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Evercore ISI decreased their price objective on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. Finally, Stifel Nicolaus cut their target price on shares of NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a research note on Monday, August 26th. Fourteen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $96.48.

NIKE Price Performance

Shares of NYSE:NKE opened at $75.67 on Friday. The firm’s 50 day moving average is $81.07 and its two-hundred day moving average is $83.44. The firm has a market capitalization of $113.46 billion, a P/E ratio of 21.68, a PEG ratio of 1.86 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 52 week low of $70.75 and a 52 week high of $123.39.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $11.64 billion. During the same period last year, the firm earned $0.94 EPS. The firm’s revenue was down 10.4% compared to the same quarter last year. Analysts anticipate that NIKE, Inc. will post 2.74 earnings per share for the current year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a dividend of $0.40 per share. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.11%. NIKE’s payout ratio is currently 42.41%.

About NIKE

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.