Unison Asset Management LLC bought a new position in NIKE, Inc. (NYSE:NKE – Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 2,469 shares of the footwear maker’s stock, valued at approximately $218,000.
Other hedge funds also recently bought and sold shares of the company. Truvestments Capital LLC purchased a new stake in NIKE in the 3rd quarter worth $187,000. Loomis Sayles & Co. L P lifted its stake in NIKE by 1,209,638.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock worth $575,342,000 after purchasing an additional 6,507,856 shares in the last quarter. Harvest Fund Management Co. Ltd lifted its stake in NIKE by 599.1% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 797 shares of the footwear maker’s stock worth $70,000 after purchasing an additional 683 shares in the last quarter. Bank of Hawaii lifted its stake in NIKE by 69.1% in the 3rd quarter. Bank of Hawaii now owns 8,876 shares of the footwear maker’s stock worth $785,000 after purchasing an additional 3,626 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its stake in NIKE by 6.0% in the 3rd quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock worth $910,801,000 after purchasing an additional 583,207 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have commented on NKE shares. Deutsche Bank Aktiengesellschaft decreased their price target on shares of NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Piper Sandler restated a “neutral” rating and set a $80.00 target price on shares of NIKE in a research report on Friday, September 20th. Royal Bank of Canada decreased 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 report on Thursday, November 7th. 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, UBS Group increased their price objective on shares of NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Fourteen research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $95.86.
NIKE Stock Up 1.1 %
Shares of NYSE NKE opened at $78.25 on Monday. The firm has a market cap of $117.32 billion, a price-to-earnings ratio of 22.18, a price-to-earnings-growth ratio of 1.88 and a beta of 1.03. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The company’s 50-day simple moving average is $80.51 and its 200-day simple moving average is $82.52. 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 (NYSE:NKE – Get Free Report) last posted its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. During the same period in the previous year, the business posted $0.94 earnings per share. NIKE’s quarterly revenue was down 10.4% on a year-over-year basis. Equities analysts predict that NIKE, Inc. will post 2.75 EPS for the current fiscal 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 dividend of $0.40 per share. The ex-dividend date is Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a yield of 2.04%. NIKE’s payout ratio is 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.
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