NIKE, Inc. (NYSE:NKE) Shares Bought by Noesis Capital Mangement Corp

Noesis Capital Mangement Corp lifted its stake in shares of NIKE, Inc. (NYSE:NKE) by 6.2% during the third quarter, Holdings Channel reports. The firm owned 132,238 shares of the footwear maker’s stock after buying an additional 7,749 shares during the period. NIKE comprises about 2.3% of Noesis Capital Mangement Corp’s holdings, making the stock its 19th largest position. Noesis Capital Mangement Corp’s holdings in NIKE were worth $11,690,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. VitalStone Financial LLC increased its position in NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after buying an additional 150 shares during the period. Bruce G. Allen Investments LLC lifted its position in NIKE by 272.5% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after purchasing an additional 376 shares during the last quarter. Triad Wealth Partners LLC acquired a new position in NIKE during the 2nd quarter valued at about $44,000. Riverview Trust Co bought a new position in NIKE in the 3rd quarter worth about $52,000. Finally, MFA Wealth Advisors LLC acquired a new stake in shares of NIKE in the second quarter valued at approximately $46,000. Institutional investors own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NKE. Piper Sandler reiterated a “neutral” rating and set a $80.00 price objective on shares of NIKE in a research report on Friday, September 20th. Stifel Nicolaus reduced their price target on NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research report on Monday, August 26th. Royal Bank of Canada lowered their price target on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a report on Thursday, November 7th. Bank of America reduced their price objective on shares of NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Finally, Wells Fargo & Company raised their target price on shares of NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Fourteen investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $95.86.

NIKE Price Performance

Shares of NYSE:NKE opened at $78.31 on Thursday. The company has a market cap of $117.41 billion, a P/E ratio of 22.44, a price-to-earnings-growth ratio of 1.92 and a beta of 1.03. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The company’s fifty day moving average is $80.39 and its two-hundred day moving average is $82.29.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. During the same quarter in the prior year, the business earned $0.94 EPS. The company’s revenue for the quarter was down 10.4% compared to the same quarter last year. Equities analysts expect that NIKE, Inc. will post 2.75 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a $0.40 dividend. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Monday, December 2nd. NIKE’s dividend payout ratio is presently 42.41%.

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.