Coastwise Capital Group LLC Has $292,000 Stake in NIKE, Inc. (NYSE:NKE)

Coastwise Capital Group LLC lifted its holdings in NIKE, Inc. (NYSE:NKE) by 21.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,299 shares of the footwear maker’s stock after purchasing an additional 577 shares during the quarter. Coastwise Capital Group LLC’s holdings in NIKE were worth $292,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Community Bank N.A. increased its position in shares of NIKE by 8.5% during the third quarter. Community Bank N.A. now owns 21,460 shares of the footwear maker’s stock worth $1,897,000 after acquiring an additional 1,675 shares in the last quarter. ArrowMark Colorado Holdings LLC raised its stake in shares of NIKE by 76.0% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 23,154 shares of the footwear maker’s stock valued at $2,047,000 after purchasing an additional 10,000 shares during the period. Beacon Investment Advisory Services Inc. lifted its stake in NIKE by 74.8% in the 3rd quarter. Beacon Investment Advisory Services Inc. now owns 7,832 shares of the footwear maker’s stock valued at $692,000 after acquiring an additional 3,352 shares in the last quarter. Benjamin Edwards Inc. boosted its holdings in NIKE by 3,520.3% during the third quarter. Benjamin Edwards Inc. now owns 106,146 shares of the footwear maker’s stock worth $9,383,000 after purchasing an additional 103,214 shares during the last quarter. Finally, Erste Asset Management GmbH acquired a new stake in shares of NIKE in the third quarter valued at about $1,688,000. 64.25% of the stock is owned by institutional investors.

NIKE Stock Up 0.5 %

Shares of NIKE stock opened at $78.77 on Monday. The firm has a market cap of $118.10 billion, a price-to-earnings ratio of 22.57, a PEG ratio of 1.91 and a beta of 1.03. The stock’s 50-day moving average is $80.18 and its 200 day moving average is $82.03. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39.

NIKE (NYSE:NKE) last issued its earnings results 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. The company had revenue of $11.59 billion for 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%. NIKE’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same period last year, the business earned $0.94 EPS. Equities research analysts anticipate that NIKE, Inc. will post 2.75 EPS for the current year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a dividend of $0.40 per share. The ex-dividend date 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 2.03%. NIKE’s payout ratio is presently 42.41%.

Wall Street Analyst Weigh In

NKE has been the subject of a number of research analyst reports. Piper Sandler reiterated a “neutral” rating and set a $80.00 price target on shares of NIKE in a report on Friday, September 20th. Williams Trading upgraded shares of NIKE from a “sell” rating to a “buy” rating and upped their price target for the company from $67.00 to $93.00 in a research note on Friday, August 16th. Telsey Advisory Group dropped their price objective on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Daiwa America cut shares of NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Finally, TD Cowen reduced their price target on NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research report on Monday, November 18th. Fourteen equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average 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.