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

Pekin Hardy Strauss Inc. increased its position in NIKE, Inc. (NYSE:NKE) by 2.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,692 shares of the footwear maker’s stock after buying an additional 155 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in NIKE were worth $680,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. VitalStone Financial LLC boosted its stake in shares of NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 150 shares in the last quarter. Bruce G. Allen Investments LLC grew its stake in shares of NIKE by 272.5% during the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after buying an additional 376 shares during the last quarter. Triad Wealth Partners LLC purchased a new position in shares of NIKE in the second quarter worth about $44,000. MFA Wealth Advisors LLC bought a new stake in shares of NIKE in the 2nd quarter valued at about $46,000. Finally, Lynx Investment Advisory bought a new position in NIKE during the 2nd quarter worth approximately $47,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NKE. Piper Sandler reiterated a “neutral” rating and issued a $80.00 price objective on shares of NIKE in a research report on Friday, September 20th. Williams Trading raised shares of NIKE from a “sell” rating to a “buy” rating and increased their price target for the company from $67.00 to $93.00 in a research report on Friday, August 16th. Barclays lowered their price objective on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 2nd. Sanford C. Bernstein cut their target price on NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research note on Thursday, September 19th. Finally, UBS Group increased their price objective on NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Fourteen research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $95.86.

NIKE Trading Up 3.1 %

NYSE:NKE opened at $77.40 on Monday. The company has a market cap of $116.05 billion, a PE ratio of 22.18, a price-to-earnings-growth ratio of 1.88 and a beta of 1.03. 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 company has a 50 day simple moving average of $80.51 and a two-hundred day simple moving average of $82.52. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 EPS 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 company had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. During the same quarter in the previous year, the company posted $0.94 earnings per share. NIKE’s revenue was down 10.4% compared to the same quarter last year. Research analysts forecast that NIKE, Inc. will post 2.75 earnings per share for the current year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio 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.