Semus Wealth Partners LLC Makes New Investment in NIKE, Inc. (NYSE:NKE)

Semus Wealth Partners LLC acquired a new position in shares of NIKE, Inc. (NYSE:NKE) during the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 2,642 shares of the footwear maker’s stock, valued at approximately $234,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cassaday & Co Wealth Management LLC increased its holdings in shares of NIKE by 3.8% in the 3rd quarter. Cassaday & Co Wealth Management LLC now owns 5,697 shares of the footwear maker’s stock valued at $504,000 after purchasing an additional 206 shares during the period. Prudent Man Advisors LLC increased its holdings in shares of NIKE by 42.0% in the 3rd quarter. Prudent Man Advisors LLC now owns 8,594 shares of the footwear maker’s stock valued at $760,000 after purchasing an additional 2,544 shares during the period. TrinityPoint Wealth LLC increased its holdings in shares of NIKE by 9.2% in the 3rd quarter. TrinityPoint Wealth LLC now owns 28,561 shares of the footwear maker’s stock valued at $2,525,000 after purchasing an additional 2,408 shares during the period. Swiss National Bank increased its holdings in shares of NIKE by 0.3% in the 3rd quarter. Swiss National Bank now owns 3,595,800 shares of the footwear maker’s stock valued at $317,869,000 after purchasing an additional 9,000 shares during the period. Finally, S&CO Inc. acquired a new position in shares of NIKE in the 3rd quarter valued at about $213,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Performance

NYSE NKE opened at $76.35 on Monday. The company’s 50 day moving average is $80.89 and its 200-day moving average is $83.15. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The firm has a market cap of $114.48 billion, a P/E ratio of 21.89, a price-to-earnings-growth ratio of 1.86 and a beta of 1.03.

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

NIKE Increases Dividend

The company also recently announced 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. This represents a $1.60 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Monday, December 2nd. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio is 42.41%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Guggenheim dropped their target price on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Truist Financial raised NIKE from a “hold” rating to a “buy” rating and boosted their price target for the company from $83.00 to $97.00 in a research note on Thursday, October 10th. Jefferies Financial Group boosted their price target on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research note on Monday, September 30th. Evercore ISI lowered their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Finally, Telsey Advisory Group lowered their price target on NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Fourteen analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, NIKE currently has an average rating of “Moderate Buy” and a consensus price target of $96.30.

NIKE Company 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.