NIKE, Inc. (NYSE:NKE) Shares Purchased by Beaton Management Co. Inc.

Beaton Management Co. Inc. boosted its position in shares of NIKE, Inc. (NYSE:NKE) by 1.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,698 shares of the footwear maker’s stock after buying an additional 286 shares during the quarter. Beaton Management Co. Inc.’s holdings in NIKE were worth $1,476,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NKE. ING Groep NV acquired a new stake in shares of NIKE during the 3rd quarter valued at about $29,628,000. Cordatus Wealth Management LLC boosted its position in NIKE by 19.5% during the third quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker’s stock worth $3,669,000 after purchasing an additional 6,778 shares in the last quarter. Bristlecone Advisors LLC grew its holdings in NIKE by 14.3% in the third quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock valued at $8,267,000 after purchasing an additional 11,665 shares during the period. WoodTrust Financial Corp increased its position in shares of NIKE by 19.9% in the third quarter. WoodTrust Financial Corp now owns 98,289 shares of the footwear maker’s stock valued at $8,689,000 after buying an additional 16,303 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. increased its position in shares of NIKE by 44.8% in the third quarter. Farmers & Merchants Investments Inc. now owns 194,101 shares of the footwear maker’s stock valued at $17,159,000 after buying an additional 60,008 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

NYSE:NKE opened at $76.66 on Friday. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The stock’s fifty day moving average is $80.89 and its two-hundred day moving average is $83.20. The company has a market capitalization of $114.94 billion, a P/E ratio of 21.97, a P/E/G ratio of 1.86 and a beta of 1.03. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same period last year, the company earned $0.94 EPS. The company’s quarterly revenue was down 10.4% on a year-over-year basis. Equities analysts expect that NIKE, Inc. will post 2.74 EPS for the current year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued 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 dividend yield of 2.09%. The ex-dividend date is Monday, December 2nd. NIKE’s dividend payout ratio is currently 42.41%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Williams Trading raised shares of NIKE from a “sell” rating to a “buy” rating and lifted their price target for the company from $67.00 to $93.00 in a research note on Friday, August 16th. Sanford C. Bernstein dropped their target price on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research report on Thursday, September 19th. Stifel Nicolaus reduced their price target on shares of NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research report on Monday, August 26th. Wells Fargo & Company raised their price target 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. Finally, Truist Financial upgraded NIKE from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $83.00 to $97.00 in a research note on Thursday, October 10th. Fourteen analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $96.48.

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.