Tradewinds LLC. Purchases Shares of 2,832 NIKE, Inc. (NYSE:NKE)

Tradewinds LLC. acquired a new position in NIKE, Inc. (NYSE:NKE) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,832 shares of the footwear maker’s stock, valued at approximately $250,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Edgestream Partners L.P. purchased a new stake in shares of NIKE in the 1st quarter worth $727,000. Covestor Ltd increased its position in NIKE by 51.4% in the first quarter. Covestor Ltd now owns 825 shares of the footwear maker’s stock worth $77,000 after buying an additional 280 shares in the last quarter. Seven Eight Capital LP bought a new position in shares of NIKE in the first quarter worth about $612,000. Shell Asset Management Co. lifted its position in shares of NIKE by 21.1% during the 1st quarter. Shell Asset Management Co. now owns 16,342 shares of the footwear maker’s stock valued at $1,536,000 after buying an additional 2,850 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its stake in shares of NIKE by 86.0% during the 1st quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock valued at $1,970,000 after acquiring an additional 9,689 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on NKE shares. UBS Group raised their target price on shares of NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Truist Financial upgraded shares of NIKE from a “hold” rating to a “buy” rating and raised their price objective for the company from $83.00 to $97.00 in a research report on Thursday, October 10th. Williams Trading upgraded shares of NIKE from a “sell” rating to a “buy” rating and lifted their target price for the company from $67.00 to $93.00 in a research note on Friday, August 16th. Wells Fargo & Company increased their price target on NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Fourteen research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $96.30.

NIKE Trading Down 0.8 %

NKE opened at $73.33 on Thursday. The stock has a 50-day moving average of $80.61 and a 200 day moving average of $82.83. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The firm has a market cap of $109.95 billion, a P/E ratio of 21.01, a P/E/G ratio of 1.80 and a beta of 1.03.

NIKE (NYSE:NKE) last announced 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. 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 analysts’ expectations of $11.64 billion. During the same quarter in the previous year, the business earned $0.94 EPS. The company’s quarterly revenue was down 10.4% on a year-over-year basis. As a group, research analysts forecast that NIKE, Inc. will post 2.74 EPS for the current year.

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a dividend of $0.40 per share. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.18%. 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.