SevenBridge Financial Group LLC Increases Stock Holdings in NIKE, Inc. (NYSE:NKE)

SevenBridge Financial Group LLC raised its position in shares of NIKE, Inc. (NYSE:NKE) by 1.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,398 shares of the footwear maker’s stock after purchasing an additional 315 shares during the quarter. SevenBridge Financial Group LLC’s holdings in NIKE were worth $1,715,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NKE. Transcendent Capital Group LLC increased its holdings in NIKE by 97.6% during the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after buying an additional 200 shares during the last quarter. VitalStone Financial LLC grew its position in shares of NIKE by 52.6% during 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 stake in shares of NIKE by 272.5% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after purchasing an additional 376 shares in the last quarter. Triad Wealth Partners LLC bought a new position in NIKE in the 2nd quarter worth $44,000. Finally, MFA Wealth Advisors LLC bought a new stake in NIKE during the second quarter valued at about $46,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on NKE. Stifel Nicolaus reduced their price target on NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research report on Monday, August 26th. JPMorgan Chase & Co. reduced their target price on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. Truist Financial raised shares of NIKE from a “hold” rating to a “buy” rating and lifted their price target for the company from $83.00 to $97.00 in a report on Thursday, October 10th. Robert W. Baird increased their price objective on shares of NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Finally, Sanford C. Bernstein lowered their target price on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research note on Thursday, September 19th. Fourteen equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and an average target price of $95.86.

NIKE Price Performance

NYSE:NKE opened at $77.40 on Friday. The firm has a market capitalization of $116.05 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 1.82 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. The business has a 50 day simple moving average of $80.51 and a 200-day simple moving average of $82.59. NIKE, Inc. has a 1 year low of $70.75 and a 1 year 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same period last year, the company earned $0.94 earnings per share. NIKE’s revenue was down 10.4% on a year-over-year basis. Equities analysts forecast that NIKE, Inc. will post 2.75 EPS for the current year.

NIKE Increases Dividend

The company also recently declared 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 2.07%. This is an increase 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 is presently 42.41%.

About NIKE

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.