Northcape Wealth Management LLC Purchases Shares of 2,535 NIKE, Inc. (NYSE:NKE)

Northcape Wealth Management LLC acquired a new position in shares of NIKE, Inc. (NYSE:NKE) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 2,535 shares of the footwear maker’s stock, valued at approximately $224,000.

Several other large investors have also made changes to their positions in the company. M&G Plc acquired a new position in shares of NIKE in the 1st quarter valued at about $10,109,000. Spirepoint Private Client LLC acquired a new position in NIKE during the first quarter valued at approximately $425,000. Alera Investment Advisors LLC grew its stake in NIKE by 6.3% during the first quarter. Alera Investment Advisors LLC now owns 2,358 shares of the footwear maker’s stock worth $222,000 after buying an additional 139 shares during the period. Ontario Teachers Pension Plan Board acquired a new stake in shares of NIKE in the first quarter worth $868,000. Finally, Patten & Patten Inc. TN raised its stake in shares of NIKE by 2.1% in the 1st quarter. Patten & Patten Inc. TN now owns 70,671 shares of the footwear maker’s stock valued at $6,642,000 after acquiring an additional 1,476 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on NKE. Barclays cut their price objective on NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 2nd. Morgan Stanley raised their price target on shares of NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Piper Sandler reiterated a “neutral” rating and issued a $80.00 price objective on shares of NIKE in a report on Friday, September 20th. Sanford C. Bernstein lowered their target price on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research note on Thursday, September 19th. Finally, Daiwa America cut NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Fourteen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $96.48.

NIKE Stock Up 1.3 %

Shares of NIKE stock opened at $76.66 on Friday. The stock has a market capitalization of $114.94 billion, a price-to-earnings ratio of 21.97, a PEG ratio of 1.86 and a beta of 1.03. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The business’s 50 day simple moving average is $80.89 and its 200-day simple moving average is $83.27.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $11.64 billion. During the same period last year, the company earned $0.94 earnings per share. The firm’s revenue for the quarter was down 10.4% on a year-over-year basis. Equities research analysts forecast 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. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.09%. 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 payout ratio is presently 42.41%.

NIKE 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.