NIKE, Inc. (NYSE:NKE) Shares Acquired by Providence Capital Advisors LLC

Providence Capital Advisors LLC lifted its position in shares of NIKE, Inc. (NYSE:NKE) by 29.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 78,784 shares of the footwear maker’s stock after purchasing an additional 17,871 shares during the period. NIKE comprises about 1.4% of Providence Capital Advisors LLC’s holdings, making the stock its 22nd largest position. Providence Capital Advisors LLC’s holdings in NIKE were worth $6,965,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. VitalStone Financial LLC increased its position in 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 acquiring an additional 150 shares during the period. Bruce G. Allen Investments LLC increased its position in NIKE by 272.5% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after acquiring an additional 376 shares during the period. Triad Wealth Partners LLC acquired a new position in NIKE in the 2nd quarter valued at about $44,000. MFA Wealth Advisors LLC acquired a new position in NIKE in the 2nd quarter valued at about $46,000. Finally, Lynx Investment Advisory acquired a new position in NIKE in the 2nd quarter valued at about $47,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

NKE has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price objective on NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Morgan Stanley lifted their price objective on NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. TD Cowen lowered their price objective on NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, November 18th. Truist Financial raised NIKE from a “hold” rating to a “buy” rating and lifted their price objective for the company from $83.00 to $97.00 in a report on Thursday, October 10th. Finally, Robert W. Baird lifted their price objective on NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Fourteen investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $95.86.

NIKE Trading Up 0.9 %

Shares of NKE opened at $78.31 on Thursday. The stock has a fifty day moving average of $80.39 and a two-hundred day moving average of $82.29. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The company has a market capitalization of $117.41 billion, a PE ratio of 22.44, a price-to-earnings-growth ratio of 1.92 and a beta of 1.03. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39.

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 company had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. NIKE’s revenue was down 10.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.94 EPS. As a group, analysts forecast that NIKE, Inc. will post 2.75 EPS for the current year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.04%. NIKE’s 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.