NIKE, Inc. (NYSE:NKE) Shares Acquired by Spinnaker Trust

Spinnaker Trust raised its stake in NIKE, Inc. (NYSE:NKE) by 2.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 50,315 shares of the footwear maker’s stock after buying an additional 1,037 shares during the quarter. Spinnaker Trust’s holdings in NIKE were worth $5,463,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Iron Horse Wealth Management LLC raised its stake in NIKE by 120.7% during the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 140 shares during the period. Impact Partnership Wealth LLC increased its position in shares of NIKE by 220.7% during the 3rd quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock worth $25,000 after purchasing an additional 181 shares during the last quarter. Planned Solutions Inc. acquired a new position in NIKE in the fourth quarter valued at about $29,000. Mizuho Securities Co. Ltd. boosted its stake in NIKE by 100.0% during the fourth quarter. Mizuho Securities Co. Ltd. now owns 340 shares of the footwear maker’s stock worth $37,000 after buying an additional 170 shares during the period. Finally, NewSquare Capital LLC increased its position in shares of NIKE by 372.0% during the fourth quarter. NewSquare Capital LLC now owns 354 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 279 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on NKE shares. Stifel Nicolaus dropped their target price on shares of NIKE from $129.00 to $117.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Wedbush reissued an “outperform” rating and set a $115.00 target price on shares of NIKE in a research note on Wednesday, March 27th. Jefferies Financial Group dropped their target price on NIKE from $110.00 to $100.00 and set a “hold” rating for the company in a research report on Friday, March 22nd. Truist Financial reaffirmed a “hold” rating and set a $111.00 price objective on shares of NIKE in a research report on Tuesday, March 19th. Finally, Williams Trading reaffirmed a “sell” rating and issued a $85.00 target price (down previously from $92.00) on shares of NIKE in a report on Monday, March 18th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.26.

NIKE Price Performance

Shares of NYSE:NKE traded up $0.17 on Friday, reaching $94.11. 6,115,249 shares of the company were exchanged, compared to its average volume of 9,429,240. The company has a 50-day moving average of $96.96 and a 200-day moving average of $103.30. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. The firm has a market cap of $142.05 billion, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 1.83 and a beta of 1.08. NIKE, Inc. has a 1-year low of $88.66 and a 1-year high of $128.68.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, topping the consensus estimate of $0.69 by $0.29. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The business had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.28 billion. Equities analysts forecast that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend was Friday, March 1st. NIKE’s payout ratio is currently 43.53%.

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.