Everett Harris & Co. CA Grows Stake in NIKE, Inc. (NYSE:NKE)

Everett Harris & Co. CA increased its position in NIKE, Inc. (NYSE:NKE) by 0.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,062,550 shares of the footwear maker’s stock after acquiring an additional 8,958 shares during the period. NIKE comprises about 1.2% of Everett Harris & Co. CA’s investment portfolio, making the stock its 20th biggest holding. Everett Harris & Co. CA owned 0.07% of NIKE worth $93,929,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Harfst & Associates Inc. boosted its holdings in shares of NIKE by 7.5% in the third quarter. Harfst & Associates Inc. now owns 25,092 shares of the footwear maker’s stock worth $2,218,000 after buying an additional 1,753 shares during the last quarter. Commonwealth Equity Services LLC raised its position in NIKE by 7.8% in the third quarter. Commonwealth Equity Services LLC now owns 454,719 shares of the footwear maker’s stock worth $40,197,000 after acquiring an additional 32,907 shares during the period. Legacy Financial Strategies LLC purchased a new position in shares of NIKE during the 3rd quarter worth $210,000. Raymond James & Associates grew its position in shares of NIKE by 7.5% during the 3rd quarter. Raymond James & Associates now owns 1,505,332 shares of the footwear maker’s stock valued at $133,071,000 after acquiring an additional 105,093 shares during the period. Finally, First Citizens Bank & Trust Co. increased its stake in shares of NIKE by 151.6% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 60,053 shares of the footwear maker’s stock worth $5,309,000 after purchasing an additional 36,183 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Trading Down 0.6 %

NKE traded down $0.48 on Friday, hitting $82.92. The company had a trading volume of 7,214,787 shares, compared to its average volume of 11,701,926. The business’s fifty day simple moving average is $82.64 and its 200 day simple moving average is $85.32. 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, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The company has a market cap of $125.16 billion, a PE ratio of 22.23, a PEG ratio of 1.96 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its 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. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. During the same quarter in the previous year, the business earned $0.94 EPS. The company’s quarterly revenue was down 10.4% on a year-over-year basis. Equities research analysts expect that NIKE, Inc. will post 2.8 EPS for the current year.

NIKE Announces Dividend

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

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on NKE shares. Williams Trading raised 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 $85.00 to $82.00 and set a “sector perform” rating for the company in a research note on Wednesday, October 2nd. TD Cowen raised their target price on shares of NIKE from $71.00 to $78.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Piper Sandler reiterated a “neutral” rating and issued a $80.00 price target on shares of NIKE in a research report on Friday, September 20th. Finally, 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 note on Friday, September 20th. 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, the stock has an average rating of “Moderate Buy” and an average target price of $96.56.

NIKE 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.