NIKE, Inc. (NYSE:NKE) Shares Purchased by IHT Wealth Management LLC

IHT Wealth Management LLC boosted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 29.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,700 shares of the footwear maker’s stock after acquiring an additional 4,254 shares during the period. IHT Wealth Management LLC’s holdings in NIKE were worth $1,657,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Csenge Advisory Group raised its holdings in shares of NIKE by 5.6% in the second quarter. Csenge Advisory Group now owns 3,352 shares of the footwear maker’s stock worth $253,000 after acquiring an additional 177 shares during the last quarter. OLD National Bancorp IN boosted its stake in shares of NIKE by 8.1% during the 2nd quarter. OLD National Bancorp IN now owns 27,668 shares of the footwear maker’s stock worth $2,085,000 after purchasing an additional 2,074 shares during the last quarter. QRG Capital Management Inc. grew its holdings in shares of NIKE by 5.6% during the second quarter. QRG Capital Management Inc. now owns 75,200 shares of the footwear maker’s stock worth $5,668,000 after buying an additional 4,006 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of NIKE in the second quarter valued at approximately $80,000. Finally, Wolff Wiese Magana LLC lifted its stake in shares of NIKE by 6,169.2% during the second quarter. Wolff Wiese Magana LLC now owns 815 shares of the footwear maker’s stock valued at $61,000 after buying an additional 802 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

NIKE stock opened at $78.58 on Friday. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The company has a market capitalization of $117.82 billion, a price-to-earnings ratio of 22.52, a price-to-earnings-growth ratio of 1.92 and a beta of 1.02. The firm’s fifty day moving average price is $79.46 and its 200 day moving average price is $81.80.

NIKE (NYSE:NKE) last announced 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. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. During the same period in the previous year, the company earned $0.94 earnings per share. The company’s revenue for the quarter was down 10.4% compared to the same quarter last year. On average, research analysts forecast that NIKE, Inc. will post 2.74 EPS for the current fiscal year.

NIKE Increases Dividend

The firm 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 represents a $1.60 dividend on an annualized basis and a dividend yield of 2.04%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, December 2nd. NIKE’s dividend payout ratio is presently 45.85%.

Analysts Set New Price Targets

NKE has been the subject of several recent analyst reports. Needham & Company LLC began coverage on shares of NIKE in a research note on Friday, November 22nd. They issued a “buy” rating and a $84.00 target price for the company. UBS Group lifted their price objective on NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Jefferies Financial Group increased their target price on NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Monday, September 30th. Truist Financial raised NIKE from a “hold” rating to a “buy” rating and raised their price target for the stock from $83.00 to $97.00 in a research note on Thursday, October 10th. Finally, Sanford C. Bernstein dropped their price objective on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research note on Thursday, September 19th. Fourteen research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $95.54.

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.