NIKE, Inc. (NYSE:NKE) Holdings Lifted by Mcdonald Partners LLC

Mcdonald Partners LLC increased its position in shares of NIKE, Inc. (NYSE:NKE) by 3.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 13,061 shares of the footwear maker’s stock after acquiring an additional 395 shares during the quarter. Mcdonald Partners LLC’s holdings in NIKE were worth $988,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Stratos Wealth Advisors LLC increased its holdings in shares of NIKE by 6.7% in the third quarter. Stratos Wealth Advisors LLC now owns 8,104 shares of the footwear maker’s stock valued at $716,000 after buying an additional 506 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of NIKE by 164.6% in the 3rd quarter. Blue Trust Inc. now owns 11,955 shares of the footwear maker’s stock worth $1,057,000 after acquiring an additional 7,437 shares during the last quarter. Commonwealth Equity Services LLC raised its position in shares of NIKE by 7.8% during the third quarter. Commonwealth Equity Services LLC now owns 454,719 shares of the footwear maker’s stock worth $40,197,000 after purchasing an additional 32,907 shares during the period. Resonant Capital Advisors LLC lifted its holdings in shares of NIKE by 4.9% during the third quarter. Resonant Capital Advisors LLC now owns 3,999 shares of the footwear maker’s stock valued at $355,000 after purchasing an additional 185 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of NIKE by 187.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 323,993 shares of the footwear maker’s stock valued at $28,641,000 after purchasing an additional 211,461 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Price Performance

Shares of NYSE:NKE opened at $73.02 on Tuesday. The business has a 50-day moving average of $74.37 and a two-hundred day moving average of $78.04. NIKE, Inc. has a fifty-two week low of $68.62 and a fifty-two week high of $107.34. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The stock has a market capitalization of $108.00 billion, a P/E ratio of 22.54, a P/E/G ratio of 2.34 and a beta of 1.01.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The company had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.03 earnings per share. On average, equities research analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is 49.38%.

Wall Street Analyst Weigh In

Several analysts have issued reports on NKE shares. DA Davidson upgraded NIKE to a “strong-buy” rating in a report on Monday, December 23rd. JPMorgan Chase & Co. reduced their price target on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research report on Monday, December 2nd. Piper Sandler upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $72.00 to $90.00 in a research report on Friday, January 10th. Royal Bank of Canada cut their target price on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. Finally, Truist Financial decreased their target price on NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Fifteen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $88.62.

Insider Activity

In other NIKE news, Director John W. Rogers, Jr. acquired 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The stock was acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the transaction, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is currently owned by company insiders.

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.