GM Advisory Group LLC Grows Holdings in NIKE, Inc. (NYSE:NKE)

GM Advisory Group LLC grew its position in NIKE, Inc. (NYSE:NKE) by 39.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,023 shares of the footwear maker’s stock after purchasing an additional 3,385 shares during the quarter. GM Advisory Group LLC’s holdings in NIKE were worth $1,063,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the company. Allen Capital Group LLC raised its holdings in NIKE by 12.6% during the third quarter. Allen Capital Group LLC now owns 29,677 shares of the footwear maker’s stock valued at $2,623,000 after acquiring an additional 3,312 shares during the period. Eagle Asset Management Inc. raised its stake in NIKE by 36.2% during the 3rd quarter. Eagle Asset Management Inc. now owns 16,698 shares of the footwear maker’s stock valued at $1,476,000 after purchasing an additional 4,440 shares during the period. Investors Research Corp lifted its holdings in NIKE by 3,323.9% in the 3rd quarter. Investors Research Corp now owns 12,052 shares of the footwear maker’s stock worth $1,065,000 after purchasing an additional 11,700 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in 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 worth $760,716,000 after purchasing an additional 117,187 shares during the period. Finally, Pacer Advisors Inc. grew its holdings in NIKE by 3.2% during the 3rd quarter. Pacer Advisors Inc. now owns 111,285 shares of the footwear maker’s stock valued at $9,838,000 after buying an additional 3,464 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

NKE opened at $75.29 on Friday. 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 business has a fifty day moving average of $80.55 and a 200 day moving average of $82.78. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The stock has a market cap of $112.88 billion, a P/E ratio of 21.57, a PEG ratio of 1.80 and a beta of 1.03.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $11.64 billion. During the same period in the previous year, the firm earned $0.94 earnings per share. The business’s revenue was down 10.4% on a year-over-year basis. As a group, sell-side analysts anticipate that NIKE, Inc. will post 2.74 EPS for the current year.

NIKE Increases Dividend

The business also recently announced 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 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 2.13%. NIKE’s dividend payout ratio (DPR) is 42.41%.

Analyst Upgrades and Downgrades

NKE has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their target price on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Needham & Company LLC began coverage on shares of NIKE in a report on Friday. They set a “buy” rating and a $84.00 price objective for the company. Piper Sandler restated a “neutral” rating and set a $80.00 price objective on shares of NIKE in a research report on Friday, September 20th. Guggenheim decreased their target price on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Finally, Truist Financial upgraded NIKE from a “hold” rating to a “buy” rating and raised their price target for the company from $83.00 to $97.00 in a report on Thursday, October 10th. Fourteen equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, NIKE has an average rating of “Moderate Buy” and an average price target of $95.86.

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.