Larson Financial Group LLC Has $1.01 Million Stock Position in NIKE, Inc. (NYSE:NKE)

Larson Financial Group LLC boosted its stake in NIKE, Inc. (NYSE:NKE) by 121.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,377 shares of the footwear maker’s stock after acquiring an additional 6,246 shares during the period. Larson Financial Group LLC’s holdings in NIKE were worth $1,006,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NKE. VitalStone Financial LLC increased its position in shares of NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after buying an additional 150 shares during the period. Bruce G. Allen Investments LLC raised its position in shares of NIKE by 272.5% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after acquiring an additional 376 shares in the last quarter. Triad Wealth Partners LLC acquired a new position in shares of NIKE in the 2nd quarter valued at about $44,000. MFA Wealth Advisors LLC bought a new stake in shares of NIKE during the 2nd quarter valued at about $46,000. Finally, Lynx Investment Advisory acquired a new stake in NIKE during the second quarter worth approximately $47,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

NKE has been the topic of a number of research analyst reports. Daiwa America cut NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Telsey Advisory Group cut their target price on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. Jefferies Financial Group raised their price target on shares of NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Monday, September 30th. Robert W. Baird increased their price objective on shares of NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Finally, JPMorgan Chase & Co. decreased their target price on NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.86.

NIKE Stock Performance

Shares of NKE opened at $77.40 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The firm has a market cap of $116.05 billion, a PE ratio of 22.18, a PEG ratio of 1.88 and a beta of 1.03. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. The stock’s fifty day moving average price is $80.51 and its two-hundred day moving average price is $82.52.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.18. The firm had revenue of $11.59 billion during 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 was down 10.4% on a year-over-year basis. During the same quarter last year, the company earned $0.94 earnings per share. On average, equities research analysts forecast that NIKE, Inc. will post 2.75 EPS for the current year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a $0.40 dividend. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend is Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is presently 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.