NIKE, Inc. (NYSE:NKE) Stock Holdings Lifted by Eagle Asset Management Inc.

Eagle Asset Management Inc. increased its position in shares of NIKE, Inc. (NYSE:NKE) by 36.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,698 shares of the footwear maker’s stock after acquiring an additional 4,440 shares during the quarter. Eagle Asset Management Inc.’s holdings in NIKE were worth $1,476,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. ING Groep NV acquired a new stake in shares of NIKE in the third quarter worth $29,628,000. Cordatus Wealth Management LLC lifted its stake in NIKE by 19.5% in the 3rd quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker’s stock worth $3,669,000 after acquiring an additional 6,778 shares in the last quarter. Bristlecone Advisors LLC boosted its position in NIKE by 14.3% during the 3rd quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock worth $8,267,000 after acquiring an additional 11,665 shares during the period. WoodTrust Financial Corp grew its stake in NIKE by 19.9% during the 3rd quarter. WoodTrust Financial Corp now owns 98,289 shares of the footwear maker’s stock valued at $8,689,000 after acquiring an additional 16,303 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of NIKE by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,602,534 shares of the footwear maker’s stock valued at $760,716,000 after purchasing an additional 117,187 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on NKE shares. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Williams Trading upgraded shares of NIKE from a “sell” rating to a “buy” rating and boosted their price target for the company from $67.00 to $93.00 in a report on Friday, August 16th. Royal Bank of Canada cut 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 restated a “neutral” rating and issued a $80.00 target price on shares of NIKE in a research note on Friday, September 20th. Finally, Truist Financial raised NIKE from a “hold” rating to a “buy” rating and raised their price target for the stock from $83.00 to $97.00 in a research note on Thursday, October 10th. Fourteen research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.86.

NIKE Stock Performance

NKE opened at $79.26 on Tuesday. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The stock’s 50 day moving average price is $80.50 and its two-hundred day moving average price is $82.42. The firm has a market capitalization of $118.84 billion, a P/E ratio of 22.71, a price-to-earnings-growth ratio of 1.88 and a beta of 1.03. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39.

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

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.02%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio is currently 45.85%.

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.