LPL Financial LLC Boosts Holdings in NIKE, Inc. (NYSE:NKE)

LPL Financial LLC lifted its stake in shares of NIKE, Inc. (NYSE:NKE) by 19.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,028,131 shares of the footwear maker’s stock after purchasing an additional 166,127 shares during the period. LPL Financial LLC owned about 0.07% of NIKE worth $90,887,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have 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 worth $38,000 after buying an additional 200 shares in the last quarter. VitalStone Financial LLC raised its stake in NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 150 shares during the last quarter. Bruce G. Allen Investments LLC lifted its holdings 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 in the last quarter. Triad Wealth Partners LLC acquired a new stake in NIKE during the 2nd quarter worth $44,000. Finally, MFA Wealth Advisors LLC acquired a new stake in NIKE during the 2nd quarter worth $46,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Trading Up 3.1 %

NYSE NKE opened at $77.40 on Friday. The firm’s fifty day moving average is $80.51 and its two-hundred day moving average is $82.59. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The firm has a market cap of $116.05 billion, a PE ratio of 22.18, a P/E/G ratio of 1.82 and a beta of 1.03.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating the consensus estimate 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 in the prior year, the business earned $0.94 EPS. The firm’s revenue was down 10.4% compared to the same quarter last year. Analysts expect that NIKE, Inc. will post 2.75 earnings per share for the current year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors 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 is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.07%. NIKE’s dividend payout ratio (DPR) is currently 42.41%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Piper Sandler reissued a “neutral” rating and issued a $80.00 price target on shares of NIKE in a research note on Friday, September 20th. Evercore ISI cut their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. Guggenheim dropped their target price on NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Needham & Company LLC began coverage on shares of NIKE in a research report on Friday. They set a “buy” rating and a $84.00 price objective for the company. Finally, Truist Financial upgraded NIKE from a “hold” rating to a “buy” rating and upped their price objective for the company from $83.00 to $97.00 in a report on Thursday, October 10th. Fourteen equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $95.86.

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.