Pekin Hardy Strauss Inc. Buys 155 Shares of NIKE, Inc. (NYSE:NKE)

Pekin Hardy Strauss Inc. lifted its stake in shares of NIKE, Inc. (NYSE:NKE) by 2.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,692 shares of the footwear maker’s stock after acquiring an additional 155 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in NIKE were worth $680,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ING Groep NV bought a new stake in NIKE during the third quarter valued at about $29,628,000. Cordatus Wealth Management LLC raised its stake in NIKE by 19.5% during the 3rd quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker’s stock valued at $3,669,000 after purchasing an additional 6,778 shares during the period. Bristlecone Advisors LLC lifted its holdings in NIKE by 14.3% in the 3rd quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock worth $8,267,000 after purchasing an additional 11,665 shares in the last quarter. WoodTrust Financial Corp boosted its stake in NIKE by 19.9% in the 3rd quarter. WoodTrust Financial Corp now owns 98,289 shares of the footwear maker’s stock worth $8,689,000 after purchasing an additional 16,303 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in NIKE by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,602,534 shares of the footwear maker’s stock valued at $760,716,000 after buying an additional 117,187 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Bank of America lowered their target price on shares of NIKE from $104.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Evercore ISI dropped their price objective on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. Daiwa America cut NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Truist Financial raised NIKE from a “hold” rating to a “buy” rating and increased their price target for the company from $83.00 to $97.00 in a research note on Thursday, October 10th. Finally, Guggenheim reduced their price objective on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.86.

NIKE Trading Up 3.1 %

NYSE NKE opened at $77.40 on Monday. The stock has a market cap of $116.05 billion, a PE ratio of 22.18, a PEG ratio of 1.88 and a beta of 1.03. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The company’s 50-day moving average price is $80.51 and its 200-day moving average price is $82.52. 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 (NYSE:NKE) last issued its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. During the same period in the prior year, the firm earned $0.94 EPS. The company’s revenue for the quarter was down 10.4% compared to the same quarter last year. Equities research analysts forecast that NIKE, Inc. will post 2.75 earnings per share for the current year.

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.40 per share. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.07%. The ex-dividend date is Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is presently 42.41%.

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.