Mount Yale Investment Advisors LLC reduced its position in NIKE, Inc. (NYSE:NKE – Free Report) by 33.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 2,134 shares of the footwear maker’s stock after selling 1,096 shares during the period. Mount Yale Investment Advisors LLC’s holdings in NIKE were worth $204,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Marquette Asset Management LLC raised its stake in NIKE by 201.3% in the 2nd quarter. Marquette Asset Management LLC now owns 241 shares of the footwear maker’s stock valued at $27,000 after acquiring an additional 161 shares during the period. Tucker Asset Management LLC bought a new stake in shares of NIKE during the first quarter valued at about $29,000. Horizon Bancorp Inc. IN bought a new stake in shares of NIKE during the second quarter valued at about $29,000. Financial Freedom LLC bought a new stake in shares of NIKE during the fourth quarter valued at about $29,000. Finally, Worth Asset Management LLC bought a new stake in shares of NIKE during the first quarter valued at about $32,000. 63.42% of the stock is currently owned by institutional investors.
NIKE Stock Performance
NYSE:NKE opened at $108.03 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.84 and a current ratio of 2.87. The firm has a market cap of $164.41 billion, a PE ratio of 33.34, a price-to-earnings-growth ratio of 1.95 and a beta of 1.07. The business has a 50 day moving average price of $109.49 and a 200-day moving average price of $105.76. NIKE, Inc. has a fifty-two week low of $88.66 and a fifty-two week high of $131.31.
NIKE (NYSE:NKE – Get Free Report) last announced its earnings results on Thursday, December 21st. The footwear maker reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.19. The company had revenue of $13.40 billion during the quarter, compared to the consensus estimate of $13.39 billion. NIKE had a return on equity of 34.97% and a net margin of 9.82%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.85 earnings per share. Equities research analysts predict that NIKE, Inc. will post 3.75 earnings per share for the current year.
NIKE Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 4th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date is Friday, December 1st. This is an increase from NIKE’s previous quarterly dividend of $0.34. NIKE’s dividend payout ratio is currently 45.68%.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on NKE. Truist Financial decreased their price target on NIKE from $108.00 to $107.00 and set a “hold” rating on the stock in a research report on Friday. Piper Sandler decreased their price target on NIKE from $112.00 to $107.00 and set a “neutral” rating on the stock in a research report on Friday. Guggenheim reiterated a “buy” rating and set a $135.00 price target on shares of NIKE in a research report on Friday, September 22nd. Bank of America cut their price objective on NIKE from $125.00 to $110.00 in a report on Wednesday, September 20th. Finally, Evercore ISI started coverage on NIKE in a report on Tuesday, November 7th. They set an “outperform” rating and a $124.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $123.94.
Read Our Latest Stock Report on NKE
Insider Activity at NIKE
In other NIKE news, Director Robert Holmes Swan bought 13,072 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was bought at an average price of $96.13 per share, for a total transaction of $1,256,611.36. Following the completion of the acquisition, the director now directly owns 18,005 shares in the company, valued at $1,730,820.65. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other NIKE news, EVP Monique S. Matheson sold 10,000 shares of the stock in a transaction on Monday, December 11th. The stock was sold at an average price of $119.00, for a total value of $1,190,000.00. Following the completion of the transaction, the executive vice president now owns 44,736 shares in the company, valued at $5,323,584. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert Holmes Swan acquired 13,072 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was purchased at an average price of $96.13 per share, with a total value of $1,256,611.36. Following the acquisition, the director now owns 18,005 shares of the company’s stock, valued at approximately $1,730,820.65. The disclosure for this purchase can be found here. 0.50% of the stock is owned by corporate insiders.
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.
Featured Stories
Receive News & Ratings for NIKE Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for NIKE and related companies with MarketBeat.com’s FREE daily email newsletter.
ABMN Staff
Source link
