NIKE, Inc. (NYSE:NKE) Shares Bought by Vestcor Inc

Vestcor Inc boosted its stake in shares of NIKE, Inc. (NYSE:NKE) by 5.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 23,893 shares of the footwear maker’s stock after purchasing an additional 1,320 shares during the quarter. Vestcor Inc’s holdings in NIKE were worth $2,112,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Teachers Insurance & Annuity Association of America purchased a new stake in NIKE in the third quarter valued at $30,000. VitalStone Financial LLC raised its position in NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 150 shares during the period. Dunhill Financial LLC raised its position in NIKE by 52.2% in the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after purchasing an additional 169 shares during the period. Triad Wealth Partners LLC purchased a new stake in NIKE in the second quarter valued at $44,000. Finally, Riverview Trust Co purchased a new stake in NIKE in the third quarter valued at $52,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Trading Down 1.1 %

NYSE:NKE opened at $76.76 on Wednesday. The stock has a 50-day simple moving average of $79.03 and a 200-day simple moving average of $81.46. The stock has a market cap of $115.09 billion, a P/E ratio of 21.99, a P/E/G ratio of 1.90 and a beta of 1.02. NIKE, Inc. has a 1 year low of $70.75 and a 1 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 announced its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The firm had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business’s revenue was down 10.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.94 EPS. As a group, analysts anticipate that NIKE, Inc. will post 2.73 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a $0.40 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.08%. NIKE’s dividend payout ratio is 45.85%.

Analysts Set New Price Targets

NKE has been the topic of a number of research analyst reports. Barclays reduced their target price on NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 2nd. Morgan Stanley lifted their target price on NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Guggenheim cut their price objective on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Jefferies Financial Group boosted their price objective on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a report on Monday, September 30th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $80.00 price objective on shares of NIKE in a report on Friday, September 20th. Fourteen investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $95.46.

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.