Pittenger & Anderson Inc. Acquires 3,297 Shares of NIKE, Inc. (NYSE:NKE)

Pittenger & Anderson Inc. increased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 3.9% during the 4th quarter, HoldingsChannel reports. The fund owned 87,206 shares of the footwear maker’s stock after buying an additional 3,297 shares during the period. Pittenger & Anderson Inc.’s holdings in NIKE were worth $9,468,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of NKE. Excalibur Management Corp raised its position in shares of NIKE by 1.9% in the 3rd quarter. Excalibur Management Corp now owns 5,148 shares of the footwear maker’s stock valued at $492,000 after purchasing an additional 98 shares during the last quarter. Baxter Bros Inc. lifted its stake in shares of NIKE by 2.0% during the third quarter. Baxter Bros Inc. now owns 5,045 shares of the footwear maker’s stock worth $482,000 after buying an additional 100 shares during the period. First Pacific Financial grew its holdings in shares of NIKE by 1.3% during the third quarter. First Pacific Financial now owns 8,098 shares of the footwear maker’s stock valued at $774,000 after buying an additional 100 shares during the last quarter. Jeppson Wealth Management LLC increased its position in shares of NIKE by 4.5% in the 3rd quarter. Jeppson Wealth Management LLC now owns 2,315 shares of the footwear maker’s stock valued at $221,000 after acquiring an additional 100 shares during the period. Finally, Cairn Investment Group Inc. raised its stake in NIKE by 4.2% in the 3rd quarter. Cairn Investment Group Inc. now owns 2,500 shares of the footwear maker’s stock worth $239,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on NKE shares. Barclays cut their price objective on NIKE from $142.00 to $114.00 and set an “overweight” rating on the stock in a report on Monday, March 25th. The Goldman Sachs Group reduced their price target on shares of NIKE from $135.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Piper Sandler dropped their price objective on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a report on Friday, March 22nd. Evercore ISI decreased their target price on shares of NIKE from $127.00 to $117.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd. Finally, Telsey Advisory Group cut their price target on NIKE from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Monday, March 18th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and a consensus target price of $116.26.

NIKE Price Performance

Shares of NYSE:NKE traded up $0.33 during trading on Friday, reaching $94.27. The stock had a trading volume of 3,452,336 shares, compared to its average volume of 9,394,816. NIKE, Inc. has a 1-year low of $88.66 and a 1-year high of $128.68. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. The business has a fifty day moving average price of $97.15 and a 200-day moving average price of $103.32. The stock has a market cap of $142.29 billion, a PE ratio of 27.86, a PEG ratio of 1.83 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 for the quarter, topping the consensus estimate of $0.69 by $0.29. The firm had revenue of $12.43 billion for the quarter, compared to the consensus estimate of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. On average, equities analysts forecast that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Announces Dividend

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

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.