TrinityPoint Wealth LLC Has $2.53 Million Stake in NIKE, Inc. (NYSE:NKE)

TrinityPoint Wealth LLC boosted its holdings in NIKE, Inc. (NYSE:NKE) by 9.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,561 shares of the footwear maker’s stock after purchasing an additional 2,408 shares during the quarter. TrinityPoint Wealth LLC’s holdings in NIKE were worth $2,525,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Legal & General Group Plc increased its position in shares of NIKE by 5.5% during the second quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock worth $832,785,000 after acquiring an additional 571,544 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in NIKE by 0.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,025,616 shares of the footwear maker’s stock valued at $454,151,000 after purchasing an additional 52,500 shares during the last quarter. Longview Partners Guernsey LTD bought a new stake in NIKE during the 1st quarter worth approximately $533,533,000. Capital World Investors raised its stake in shares of NIKE by 612.2% in the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock worth $487,327,000 after purchasing an additional 4,457,376 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of NIKE by 15.1% in the third quarter. Van ECK Associates Corp now owns 4,885,672 shares of the footwear maker’s stock valued at $431,893,000 after purchasing an additional 641,398 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Piper Sandler reissued a “neutral” rating and issued a $80.00 price target on shares of NIKE in a research report on Friday, September 20th. Guggenheim lowered their target price on shares of NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Sanford C. Bernstein cut their price target on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a report on Thursday, September 19th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of 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 cut their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $96.48.

NIKE Price Performance

Shares of NYSE NKE opened at $76.66 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 $114.94 billion, a PE ratio of 21.97, a price-to-earnings-growth ratio of 1.86 and a beta of 1.03. The stock has a fifty day moving average of $80.89 and a 200-day moving average of $83.15.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $11.64 billion. During the same quarter in the previous year, the firm earned $0.94 EPS. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. Equities research analysts anticipate that NIKE, Inc. will post 2.74 earnings per share for the current year.

NIKE Increases Dividend

The company 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 $0.40 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.09%. NIKE’s dividend payout ratio is currently 42.41%.

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.