LGT Fund Management Co Ltd. Has $2.42 Million Stock Position in NIKE, Inc. (NYSE:NKE)

LGT Fund Management Co Ltd. increased its stake in NIKE, Inc. (NYSE:NKE) by 38.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,250 shares of the footwear maker’s stock after purchasing an additional 6,200 shares during the period. LGT Fund Management Co Ltd.’s holdings in NIKE were worth $2,421,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NKE. Iron Horse Wealth Management LLC boosted its stake in NIKE by 120.7% in the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 140 shares during the period. Planned Solutions Inc. acquired a new position in shares of NIKE during the 4th quarter worth about $29,000. Raleigh Capital Management Inc. boosted its stake in shares of NIKE by 134.2% during the 3rd quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock worth $36,000 after buying an additional 216 shares during the last quarter. Stephens Consulting LLC boosted its stake in shares of NIKE by 160.0% during the 3rd quarter. Stephens Consulting LLC now owns 390 shares of the footwear maker’s stock worth $37,000 after buying an additional 240 shares during the last quarter. Finally, OFI Invest Asset Management acquired a new position in shares of NIKE during the 3rd quarter worth about $37,000. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Price Performance

Shares of NYSE NKE traded up $1.27 during trading hours on Thursday, hitting $91.61. 2,293,182 shares of the stock were exchanged, compared to its average volume of 9,259,597. 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 company has a market cap of $138.27 billion, a PE ratio of 26.91, a price-to-earnings-growth ratio of 1.78 and a beta of 1.07. The company’s fifty day simple moving average is $96.25 and its two-hundred day simple moving average is $103.19. NIKE, Inc. has a 1-year low of $88.66 and a 1-year high of $128.38.

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, topping the consensus estimate of $0.69 by $0.29. The business had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. On average, sell-side analysts predict that NIKE, Inc. will post 3.73 EPS for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were given a $0.37 dividend. The ex-dividend date was Friday, March 1st. This represents a $1.48 dividend on an annualized basis and a yield of 1.62%. NIKE’s dividend payout ratio is currently 43.53%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NKE shares. Jefferies Financial Group reduced their price objective on shares of NIKE from $110.00 to $100.00 and set a “hold” rating for the company in a research note on Friday, March 22nd. Piper Sandler reduced their price objective on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a research note on Friday, March 22nd. Morgan Stanley reduced their price objective on shares of NIKE from $124.00 to $116.00 and set an “overweight” rating for the company in a research note on Wednesday, March 27th. Citigroup reduced their price objective on shares of NIKE from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, March 14th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $111.00 target price on shares of NIKE in a report on Tuesday, March 19th. Two 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $116.26.

NIKE Company 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.