SlateStone Wealth LLC Increases Stake in NIKE, Inc. (NYSE:NKE)

SlateStone Wealth LLC increased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 10.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,866 shares of the footwear maker’s stock after buying an additional 2,603 shares during the period. SlateStone Wealth LLC’s holdings in NIKE were worth $2,917,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in NKE. SG Americas Securities LLC boosted its stake in NIKE by 109.5% during the 3rd quarter. SG Americas Securities LLC now owns 48,974 shares of the footwear maker’s stock worth $4,683,000 after purchasing an additional 566,645 shares during the period. RFG Advisory LLC boosted its stake in NIKE by 9.7% during the 3rd quarter. RFG Advisory LLC now owns 6,492 shares of the footwear maker’s stock worth $621,000 after purchasing an additional 573 shares during the period. Naples Global Advisors LLC boosted its stake in NIKE by 9.9% during the 3rd quarter. Naples Global Advisors LLC now owns 5,402 shares of the footwear maker’s stock worth $518,000 after purchasing an additional 486 shares during the period. Legacy Trust boosted its stake in NIKE by 5.4% during the 3rd quarter. Legacy Trust now owns 44,159 shares of the footwear maker’s stock worth $4,222,000 after purchasing an additional 2,260 shares during the period. Finally, Community Trust & Investment Co. boosted its stake in NIKE by 1.6% during the 3rd quarter. Community Trust & Investment Co. now owns 84,577 shares of the footwear maker’s stock worth $8,087,000 after purchasing an additional 1,310 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Up 0.6 %

Shares of NYSE NKE traded up $0.53 during trading on Wednesday, reaching $94.55. 930,764 shares of the stock were exchanged, compared to its average volume of 9,452,416. The business’s 50-day moving average price is $97.63 and its 200 day moving average price is $103.44. NIKE, Inc. has a twelve month low of $88.66 and a twelve month high of $128.68. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $142.71 billion, a price-to-earnings ratio of 27.66, a price-to-earnings-growth ratio of 1.82 and a beta of 1.08.

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

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were issued a $0.37 dividend. The ex-dividend date was Friday, March 1st. This represents a $1.48 annualized dividend and a yield of 1.57%. NIKE’s dividend payout ratio is presently 43.53%.

Analysts Set New Price Targets

NKE has been the subject of a number of analyst reports. Truist Financial restated a “hold” rating and set a $111.00 price objective on shares of NIKE in a research report on Tuesday, March 19th. Wells Fargo & Company cut their price objective on shares of NIKE from $125.00 to $120.00 and set an “overweight” rating for the company in a research report on Friday, March 22nd. Williams Trading restated a “sell” rating and set a $85.00 price objective (down previously from $92.00) on shares of NIKE in a research report on Monday, March 18th. Citigroup cut their price objective on shares of NIKE from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, March 14th. Finally, Bank of America upgraded shares of NIKE from a “neutral” rating to a “buy” rating and increased their price target for the company from $110.00 to $113.00 in a report on Thursday, April 11th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.