Commonwealth Equity Services LLC Raises Holdings in NIKE, Inc. (NYSE:NKE)

Commonwealth Equity Services LLC increased its position in NIKE, Inc. (NYSE:NKE) by 7.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 454,719 shares of the footwear maker’s stock after purchasing an additional 32,907 shares during the period. Commonwealth Equity Services LLC’s holdings in NIKE were worth $40,197,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Annapolis Financial Services LLC raised its holdings in NIKE by 440.0% during the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 220 shares during the period. Transcendent Capital Group LLC raised its stake in shares of NIKE by 97.6% during the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 200 shares during the period. VitalStone Financial LLC lifted its holdings in NIKE by 52.6% during the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 150 shares in the last quarter. Bruce G. Allen Investments LLC grew its holdings in NIKE by 272.5% during the 2nd 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 in the last quarter. Finally, Triad Wealth Partners LLC bought a new stake in shares of NIKE during the second quarter valued at about $44,000. 64.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NKE shares. Oppenheimer restated an “outperform” rating and issued a $120.00 price objective on shares of NIKE in a research report on Friday, June 28th. Citigroup decreased their price target on shares of NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a report on Friday, June 28th. The Goldman Sachs Group dropped their price objective on NIKE from $118.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Truist Financial upgraded NIKE from a “hold” rating to a “buy” rating and upped their target price for the stock from $83.00 to $97.00 in a research note on Thursday, October 10th. Finally, BMO Capital Markets lowered their price target on NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. Fourteen research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and an average target price of $96.56.

NIKE Trading Down 0.6 %

NYSE NKE opened at $82.92 on Monday. The stock has a market cap of $125.16 billion, a P/E ratio of 22.23, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The stock has a 50 day simple moving average of $82.64 and a two-hundred day simple moving average of $85.24. 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 (NYSE:NKE) last announced its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The company had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm’s revenue was down 10.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.94 earnings per share. On average, analysts forecast that NIKE, Inc. will post 2.8 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend was Tuesday, September 3rd. NIKE’s payout ratio is 39.68%.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.50% of the stock is owned by corporate insiders.

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.