Tyche Wealth Partners LLC Acquires Shares of 3,257 NIKE, Inc. (NYSE:NKE)

Tyche Wealth Partners LLC bought a new position in shares of NIKE, Inc. (NYSE:NKE) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,257 shares of the footwear maker’s stock, valued at approximately $354,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. BCK Partners Inc. acquired a new position in NIKE in the first quarter valued at $2,839,000. Loomis Sayles & Co. L P raised its holdings in shares of NIKE by 138.2% in the first quarter. Loomis Sayles & Co. L P now owns 11,233 shares of the footwear maker’s stock valued at $1,511,000 after buying an additional 6,518 shares during the last quarter. Merit Financial Group LLC raised its holdings in shares of NIKE by 13.3% in the first quarter. Merit Financial Group LLC now owns 1,588 shares of the footwear maker’s stock valued at $214,000 after buying an additional 186 shares during the last quarter. Bridgewater Associates LP purchased a new stake in shares of NIKE in the first quarter valued at about $278,000. Finally, Federated Hermes Inc. raised its holdings in shares of NIKE by 9.8% in the first quarter. Federated Hermes Inc. now owns 433,950 shares of the footwear maker’s stock valued at $58,392,000 after buying an additional 38,903 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Performance

NIKE stock opened at $94.84 on Thursday. The company has a market cap of $143.15 billion, a price-to-earnings ratio of 27.89, a price-to-earnings-growth ratio of 1.80 and a beta of 1.08. NIKE, Inc. has a 12 month low of $88.66 and a 12 month high of $128.68. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. The stock’s 50-day moving average is $98.47 and its 200-day moving average is $103.42.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.29. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The firm had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.28 billion. Equities analysts anticipate that NIKE, Inc. will post 3.73 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were given a dividend of $0.37 per share. The ex-dividend date was Friday, March 1st. This represents a $1.48 dividend on an annualized basis and a yield of 1.56%. NIKE’s dividend payout ratio (DPR) is 43.53%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NKE. UBS Group cut their price target on shares of NIKE from $138.00 to $125.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Bank of America raised shares of NIKE from a “neutral” rating to a “buy” rating and increased their price target for the stock from $110.00 to $113.00 in a report on Thursday, April 11th. TD Cowen reissued a “market perform” rating and set a $104.00 price target (down from $129.00) on shares of NIKE in a report on Friday, December 22nd. Truist Financial reissued a “hold” rating and set a $111.00 price target on shares of NIKE in a report on Tuesday, March 19th. Finally, The Goldman Sachs Group cut their price target on shares of NIKE from $135.00 to $120.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $116.26.

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.