L.M. Kohn & Company Boosts Stock Position in NIKE, Inc. (NYSE:NKE)

L.M. Kohn & Company increased its stake in shares of NIKE, Inc. (NYSE:NKE) by 2.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 9,028 shares of the footwear maker’s stock after acquiring an additional 223 shares during the quarter. L.M. Kohn & Company’s holdings in NIKE were worth $798,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Legal & General Group Plc increased its position in shares of NIKE by 5.5% during the 2nd quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock worth $832,785,000 after purchasing an additional 571,544 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of NIKE by 6.0% during the third quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock valued at $910,801,000 after acquiring an additional 583,207 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake 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 acquiring an additional 117,187 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of NIKE by 19.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,209,868 shares of the footwear maker’s stock worth $637,352,000 after acquiring an additional 1,184,252 shares during the last quarter. Finally, Loomis Sayles & Co. L P boosted its position in shares of NIKE by 1,209,638.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock worth $575,342,000 after purchasing an additional 6,507,856 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NKE. Royal Bank of Canada cut their target price on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 7th. UBS Group boosted their price objective on NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Telsey Advisory Group lowered their target price on NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. Truist Financial upgraded shares of NIKE from a “hold” rating to a “buy” rating and boosted their price target for the stock from $83.00 to $97.00 in a research note on Thursday, October 10th. Finally, Robert W. Baird raised their price objective on shares of NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Fourteen analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and a consensus price target of $95.86.

NIKE Stock Performance

NYSE NKE opened at $78.77 on Friday. The company has a fifty day moving average of $80.18 and a two-hundred day moving average of $82.17. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. The company has a market capitalization of $118.10 billion, a PE ratio of 22.57, a P/E/G ratio of 1.90 and a beta of 1.03.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (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 for the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter last year, the business posted $0.94 EPS. The firm’s quarterly revenue was down 10.4% compared to the same quarter last year. As a group, analysts expect that NIKE, Inc. will post 2.75 earnings per share for the current year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a $0.40 dividend. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.60 annualized dividend and a yield of 2.03%. NIKE’s dividend payout ratio is 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.