Northcape Wealth Management LLC Buys Shares of 2,535 NIKE, Inc. (NYSE:NKE)

Northcape Wealth Management LLC purchased a new position in NIKE, Inc. (NYSE:NKE) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,535 shares of the footwear maker’s stock, valued at approximately $224,000.

Several other institutional investors and hedge funds also recently modified their holdings of NKE. Transcendent Capital Group LLC increased its stake in NIKE by 97.6% during the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after buying an additional 200 shares during the period. VitalStone Financial LLC boosted its holdings in shares of NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 150 shares in the last quarter. Bruce G. Allen Investments LLC increased its stake in shares of NIKE by 272.5% during the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after acquiring an additional 376 shares during the period. Triad Wealth Partners LLC acquired a new stake in NIKE in the second quarter worth approximately $44,000. Finally, Riverview Trust Co acquired a new stake in NIKE in the third quarter worth approximately $52,000. Institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Bank of America dropped their price objective on NIKE from $104.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Truist Financial upgraded shares of NIKE from a “hold” rating to a “buy” rating and boosted their price target for the stock from $83.00 to $97.00 in a research report on Thursday, October 10th. TD Cowen raised their price objective on shares of NIKE from $71.00 to $78.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Telsey Advisory Group dropped their target price on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. Finally, Daiwa America cut shares of NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and a consensus price target of $96.48.

NIKE Price Performance

NKE opened at $76.66 on Friday. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. The stock has a fifty day moving average price of $80.89 and a 200 day moving average price of $83.27. The stock has a market cap of $114.94 billion, a price-to-earnings ratio of 21.97, a PEG ratio of 1.86 and a beta of 1.03.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.52 by $0.18. The business had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.94 EPS. Analysts forecast that NIKE, Inc. will post 2.74 EPS for the current fiscal year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.09%. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio (DPR) is currently 42.41%.

NIKE 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.