Moors & Cabot Inc. Purchases 2,854 Shares of NIKE, Inc. (NYSE:NKE)

Moors & Cabot Inc. lifted its position in shares of NIKE, Inc. (NYSE:NKE) by 18.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 18,151 shares of the footwear maker’s stock after buying an additional 2,854 shares during the quarter. Moors & Cabot Inc.’s holdings in NIKE were worth $1,605,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Legal & General Group Plc increased its position in shares of NIKE by 5.5% during the second quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock valued at $832,785,000 after acquiring an additional 571,544 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in NIKE by 0.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,025,616 shares of the footwear maker’s stock worth $454,151,000 after purchasing an additional 52,500 shares during the period. Longview Partners Guernsey LTD bought a new stake in NIKE in the 1st quarter worth approximately $533,533,000. Capital World Investors grew its position in NIKE by 612.2% in the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock worth $487,327,000 after purchasing an additional 4,457,376 shares during the period. Finally, Van ECK Associates Corp grew its position in NIKE by 15.1% in the 3rd quarter. Van ECK Associates Corp now owns 4,885,672 shares of the footwear maker’s stock worth $431,893,000 after purchasing an additional 641,398 shares during the period. Institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on NKE. Deutsche Bank Aktiengesellschaft cut their target price on shares of NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. UBS Group lifted their target price on shares of NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company boosted their price objective on shares of NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Sanford C. Bernstein cut their price objective on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research report on Thursday, September 19th. Finally, Truist Financial raised shares of NIKE from a “hold” rating to a “buy” rating and boosted their price objective for the company from $83.00 to $97.00 in a research report on Thursday, October 10th. Fourteen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and an average price target of $96.30.

NIKE Stock Performance

Shares of NYSE:NKE opened at $73.33 on Thursday. The firm has a market cap of $109.95 billion, a PE ratio of 21.01, a price-to-earnings-growth ratio of 1.80 and a beta of 1.03. The firm’s 50 day simple moving average is $80.61 and its 200-day simple moving average is $82.83. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same period last year, the company posted $0.94 earnings per share. As a group, equities analysts predict that NIKE, Inc. will post 2.74 EPS for the current year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.18%. 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 dividend payout ratio (DPR) is presently 42.41%.

NIKE Company 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.