S&CO Inc. Acquires Shares of 2,420 NIKE, Inc. (NYSE:NKE)

S&CO Inc. bought a new stake in NIKE, Inc. (NYSE:NKE) in the 3rd quarter, Holdings Channel.com reports. The fund bought 2,420 shares of the footwear maker’s stock, valued at approximately $213,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Longview Partners Guernsey LTD bought a new position in NIKE during the first quarter worth about $533,533,000. Capital World Investors increased its position in NIKE by 612.2% during the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock worth $487,327,000 after buying an additional 4,457,376 shares during the last quarter. PineStone Asset Management Inc. increased its position in NIKE by 138.3% during the second quarter. PineStone Asset Management Inc. now owns 2,715,689 shares of the footwear maker’s stock worth $204,681,000 after buying an additional 1,576,049 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of NIKE by 351.7% in the second quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock valued at $150,101,000 after purchasing an additional 1,550,611 shares during the last quarter. Finally, KBC Group NV grew its position in NIKE by 145.2% during the third quarter. KBC Group NV now owns 2,111,708 shares of the footwear maker’s stock worth $186,675,000 after buying an additional 1,250,380 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Stock Performance

NIKE stock opened at $76.66 on Friday. The stock’s 50 day moving average is $80.89 and its 200 day moving average is $83.20. 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, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The company has a market capitalization of $114.94 billion, a P/E ratio of 21.97, a PEG ratio of 1.86 and a beta of 1.03.

NIKE (NYSE:NKE) last issued 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 business had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. During the same period last year, the business posted $0.94 EPS. The company’s revenue was down 10.4% compared to the same quarter last year. On average, equities research analysts predict that NIKE, Inc. will post 2.74 earnings per share for the current fiscal year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.09%. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is currently 42.41%.

Wall Street Analyst Weigh In

Several research firms have weighed in on NKE. Sanford C. Bernstein cut their target price on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research note on Thursday, September 19th. Royal Bank of Canada decreased their price objective on NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a report on Thursday, November 7th. Piper Sandler reiterated a “neutral” rating and set a $80.00 price target on shares of NIKE in a report on Friday, September 20th. Deutsche Bank Aktiengesellschaft reduced their target price on NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Finally, Evercore ISI reduced their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $96.48.

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.