West Family Investments Inc. Takes Position in NIKE, Inc. (NYSE:NKE)

West Family Investments Inc. acquired a new stake in NIKE, Inc. (NYSE:NKE) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,874 shares of the footwear maker’s stock, valued at approximately $342,000.

Several other hedge funds have also modified their holdings of NKE. Edgestream Partners L.P. acquired a new stake in shares of NIKE in the first quarter valued at $727,000. Covestor Ltd raised its stake in shares of NIKE by 51.4% in the first quarter. Covestor Ltd now owns 825 shares of the footwear maker’s stock valued at $77,000 after acquiring an additional 280 shares in the last quarter. Seven Eight Capital LP acquired a new stake in shares of NIKE in the first quarter valued at $612,000. Evermay Wealth Management LLC raised its stake in shares of NIKE by 6.2% in the first quarter. Evermay Wealth Management LLC now owns 2,595 shares of the footwear maker’s stock valued at $245,000 after acquiring an additional 152 shares in the last quarter. Finally, Crewe Advisors LLC acquired a new stake in shares of NIKE in the first quarter valued at $201,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Price Performance

Shares of NYSE:NKE opened at $73.92 on Wednesday. The business’s 50 day simple moving average is $80.71 and its 200-day simple moving average is $82.90. The firm has a market capitalization of $110.83 billion, a price-to-earnings ratio of 21.18, a price-to-earnings-growth ratio of 1.86 and a beta of 1.03. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. 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 earnings per share (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 firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same period in the previous year, the firm posted $0.94 EPS. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. As a group, equities analysts forecast that NIKE, Inc. will post 2.74 earnings per share for the current fiscal year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given 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 dividend yield of 2.16%. The ex-dividend date of this dividend is Monday, December 2nd. NIKE’s payout ratio is currently 42.41%.

Analyst Ratings Changes

A number of research firms have weighed in on NKE. Piper Sandler restated a “neutral” rating and issued a $80.00 price target on shares of NIKE in a research note on Friday, September 20th. Robert W. Baird raised their price target on NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. TD Cowen cut their price target on NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research note on Monday. Guggenheim cut their price target on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company raised their price target on NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Fourteen research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and an average target price of $96.30.

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.