Stifel Financial Corp Boosts Stock Holdings in NIKE, Inc. (NYSE:NKE)

Stifel Financial Corp grew its position in shares of NIKE, Inc. (NYSE:NKE) by 6.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,728,729 shares of the footwear maker’s stock after buying an additional 210,760 shares during the quarter. Stifel Financial Corp owned 0.25% of NIKE worth $329,629,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in NKE. Loomis Sayles & Co. L P grew its holdings in shares of NIKE by 1,209,638.7% during the third quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock valued at $575,342,000 after buying an additional 6,507,856 shares during the last quarter. Holocene Advisors LP purchased a new stake in NIKE in the third quarter worth approximately $148,635,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in NIKE in the third quarter worth approximately $144,927,000. PineStone Asset Management Inc. boosted its holdings in NIKE by 138.3% in the second quarter. PineStone Asset Management Inc. now owns 2,715,689 shares of the footwear maker’s stock worth $204,681,000 after purchasing an additional 1,576,049 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in NIKE by 351.7% in the second quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock worth $150,101,000 after purchasing an additional 1,550,611 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

Shares of NYSE:NKE opened at $78.37 on Thursday. The company has a market capitalization of $117.50 billion, a price-to-earnings ratio of 22.46, a PEG ratio of 1.92 and a beta of 1.02. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The firm’s 50-day moving average is $79.67 and its 200 day moving average is $81.82. 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 (NYSE:NKE) last issued its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS 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 the consensus estimate of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.94 EPS. Research analysts predict that NIKE, Inc. will post 2.74 EPS for the current year.

NIKE Increases Dividend

The firm 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. This represents a $1.60 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Monday, December 2nd. This is a boost from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio is presently 45.85%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Williams Trading upgraded shares of NIKE from a “sell” rating to a “buy” rating and increased their price target for the stock from $67.00 to $93.00 in a research report on Friday, August 16th. TD Cowen decreased their price target on shares of NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research report on Monday, November 18th. Morgan Stanley increased their price target on shares of NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Wells Fargo & Company increased their price target on shares of NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Finally, Truist Financial upgraded shares of NIKE from a “hold” rating to a “buy” rating and raised their price objective for the company from $83.00 to $97.00 in a research report on Thursday, October 10th. Fourteen equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and an average price target of $95.71.

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.