Headinvest LLC Boosts Holdings in NIKE, Inc. (NYSE:NKE)

Headinvest LLC grew its position in NIKE, Inc. (NYSE:NKE) by 2.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,857 shares of the footwear maker’s stock after purchasing an additional 230 shares during the quarter. Headinvest LLC’s holdings in NIKE were worth $783,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of NKE. ING Groep NV purchased a new position in NIKE during the 3rd quarter worth $29,628,000. Cordatus Wealth Management LLC raised its holdings 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 worth $3,669,000 after buying an additional 6,778 shares during the last quarter. Bristlecone Advisors LLC raised its stake in NIKE by 14.3% in the 3rd quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock worth $8,267,000 after acquiring an additional 11,665 shares during the last quarter. Investment Management Corp of Ontario lifted its position in NIKE by 49.4% during the 3rd quarter. Investment Management Corp of Ontario now owns 40,238 shares of the footwear maker’s stock worth $3,557,000 after acquiring an additional 13,300 shares during the period. Finally, Lazard Freres Gestion S.A.S. grew its stake in NIKE by 23.2% during the 3rd quarter. Lazard Freres Gestion S.A.S. now owns 747,675 shares of the footwear maker’s stock valued at $66,094,000 after purchasing an additional 140,632 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on NKE. Morgan Stanley lifted their target price on NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. 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 research note on Wednesday, October 2nd. Stifel Nicolaus dropped their price objective on shares of NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a report on Monday, August 26th. Williams Trading raised shares of NIKE from a “sell” rating to a “buy” rating and raised their target price for the stock from $67.00 to $93.00 in a report on Friday, August 16th. Finally, Truist Financial raised shares of NIKE from a “hold” rating to a “buy” rating and upped their price target for the company from $83.00 to $97.00 in a report on Thursday, October 10th. Fourteen research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.54.

NIKE Stock Up 0.4 %

NKE opened at $78.89 on Friday. The company has a market cap of $118.28 billion, a PE ratio of 22.60, a price-to-earnings-growth ratio of 1.91 and a beta of 1.02. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The company has a 50-day moving average price of $79.25 and a 200 day moving average price of $81.63. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $11.64 billion. During the same quarter in the prior year, the firm earned $0.94 earnings per share. The company’s revenue for the quarter was down 10.4% compared to the same quarter last year. Sell-side analysts expect that NIKE, Inc. will post 2.73 earnings per share for the current fiscal year.

NIKE Increases Dividend

The business also recently declared 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 of this dividend is Monday, December 2nd. 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 2.03%. NIKE’s dividend payout ratio is 45.85%.

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.