Empirical Finance LLC Buys 786 Shares of NIKE, Inc. (NYSE:NKE)

Empirical Finance LLC boosted its position in NIKE, Inc. (NYSE:NKE) by 1.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 42,674 shares of the footwear maker’s stock after acquiring an additional 786 shares during the period. Empirical Finance LLC’s holdings in NIKE were worth $3,772,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of NKE. Sheaff Brock Investment Advisors LLC raised its position in NIKE by 5.8% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 11,852 shares of the footwear maker’s stock valued at $1,048,000 after purchasing an additional 646 shares during the last quarter. CIBC Asset Management Inc lifted its stake in NIKE by 7.1% in the third quarter. CIBC Asset Management Inc now owns 185,320 shares of the footwear maker’s stock worth $16,382,000 after acquiring an additional 12,351 shares during the period. Intellectus Partners LLC increased its position in NIKE by 54.0% during the 3rd quarter. Intellectus Partners LLC now owns 11,698 shares of the footwear maker’s stock valued at $1,038,000 after purchasing an additional 4,102 shares during the period. OneDigital Investment Advisors LLC raised its holdings in NIKE by 7.8% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 16,792 shares of the footwear maker’s stock worth $1,484,000 after purchasing an additional 1,217 shares in the last quarter. Finally, ING Groep NV bought a new stake in shares of NIKE during the 3rd quarter valued at about $29,628,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on NKE shares. Guggenheim reduced 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. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Piper Sandler reiterated a “neutral” rating and set a $80.00 target price on shares of NIKE in a report on Friday, September 20th. Bank of America cut their price target on NIKE from $104.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Finally, Williams Trading raised NIKE from a “sell” rating to a “buy” rating and boosted their target price for the stock from $67.00 to $93.00 in a report on Friday, August 16th. Fourteen research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $96.48.

NIKE Stock Performance

Shares of NKE opened at $76.35 on Friday. NIKE, Inc. has a 52 week low of $70.75 and a 52 week 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 stock has a market cap of $114.48 billion, a price-to-earnings ratio of 21.68, a PEG ratio of 1.86 and a beta of 1.03. The business has a 50-day simple moving average of $81.07 and a two-hundred day simple moving average of $83.44.

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

NIKE Increases Dividend

The business 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 a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a yield of 2.10%. NIKE’s dividend payout ratio (DPR) is 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.