Adero Partners LLC Buys 191 Shares of NIKE, Inc. (NYSE:NKE)

Adero Partners LLC raised its stake in shares of NIKE, Inc. (NYSE:NKE) by 2.3% in the third quarter, Holdings Channel reports. The fund owned 8,339 shares of the footwear maker’s stock after acquiring an additional 191 shares during the period. Adero Partners LLC’s holdings in NIKE were worth $737,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Transcendent Capital Group LLC raised its holdings in shares of NIKE by 97.6% in the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after buying an additional 200 shares during the last quarter. VitalStone Financial LLC raised its holdings in shares of NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after buying an additional 150 shares during the last quarter. Bruce G. Allen Investments LLC raised its holdings in shares of NIKE by 272.5% in the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after buying an additional 376 shares during the last quarter. Triad Wealth Partners LLC bought a new position in shares of NIKE in the second quarter valued at about $44,000. Finally, Riverview Trust Co bought a new position in shares of NIKE in the third quarter valued at about $52,000. 64.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

NKE has been the subject of a number of research analyst reports. Royal Bank of Canada cut their price target on NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a report on Thursday, November 7th. Morgan Stanley lifted their price target on NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Truist Financial upgraded NIKE from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $83.00 to $97.00 in a research report on Thursday, October 10th. TD Cowen lifted their price objective on NIKE from $71.00 to $78.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. lowered their price objective 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 equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, NIKE presently has an average rating of “Moderate Buy” and an average target price of $96.48.

NIKE Trading Up 1.3 %

NYSE:NKE opened at $76.66 on Friday. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. 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 stock has a market capitalization 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 business’s 50-day simple moving average is $80.89 and its 200-day simple moving average is $83.20.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share 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 analysts’ expectations of $11.64 billion. During the same quarter in the previous year, the business posted $0.94 EPS. NIKE’s revenue for the quarter was down 10.4% on a year-over-year basis. Sell-side analysts expect that NIKE, Inc. will post 2.74 earnings per share for the current fiscal year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Monday, December 2nd. This is a boost from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is 42.41%.

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.