Canoe Financial LP Acquires 20,105 Shares of NIKE, Inc. (NYSE:NKE)

Canoe Financial LP raised its stake in shares of NIKE, Inc. (NYSE:NKE) by 22.2% in the 3rd quarter, Holdings Channel reports. The firm owned 110,520 shares of the footwear maker’s stock after purchasing an additional 20,105 shares during the quarter. Canoe Financial LP’s holdings in NIKE were worth $9,885,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NKE. Ascent Wealth Partners LLC raised its position in shares of NIKE by 0.4% during the first quarter. Ascent Wealth Partners LLC now owns 28,513 shares of the footwear maker’s stock worth $2,680,000 after acquiring an additional 115 shares during the last quarter. Condor Capital Management raised its holdings in NIKE by 0.4% during the 1st quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock worth $2,451,000 after purchasing an additional 116 shares during the last quarter. Lodestone Wealth Management LLC lifted its position in shares of NIKE by 5.5% in the 1st quarter. Lodestone Wealth Management LLC now owns 2,248 shares of the footwear maker’s stock worth $211,000 after purchasing an additional 118 shares during the period. Nvwm LLC lifted its position in shares of NIKE by 1.0% in the 1st quarter. Nvwm LLC now owns 11,568 shares of the footwear maker’s stock worth $1,091,000 after purchasing an additional 120 shares during the period. Finally, Garrison Point Advisors LLC boosted its stake in shares of NIKE by 1.9% in the 3rd quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock valued at $593,000 after purchasing an additional 126 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Trading Down 0.2 %

NIKE stock opened at $78.85 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The stock has a market cap of $119.01 billion, a P/E ratio of 21.14, a PEG ratio of 1.95 and a beta of 1.02. The firm’s fifty day moving average price is $82.71 and its 200-day moving average price is $84.91.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.94 EPS. Equities research analysts forecast that NIKE, Inc. will post 2.78 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.88%. NIKE’s payout ratio is presently 39.68%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. TD Cowen boosted their target price on shares of NIKE from $71.00 to $78.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. UBS Group boosted their price objective on NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Piper Sandler reaffirmed a “neutral” rating and set a $80.00 target price on shares of NIKE in a research note on Friday, September 20th. Williams Trading raised NIKE from a “sell” rating to a “buy” rating and boosted their price target for the company from $67.00 to $93.00 in a research note on Friday, August 16th. Finally, Bank of America reduced their price objective on shares of NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $96.56.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the sale, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.50% of the company’s stock.

NIKE 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.