Public Sector Pension Investment Board Has $4.51 Million Position in NIKE, Inc. (NYSE:NKE)

Public Sector Pension Investment Board grew its holdings in NIKE, Inc. (NYSE:NKE) by 9.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 51,000 shares of the footwear maker’s stock after buying an additional 4,500 shares during the quarter. Public Sector Pension Investment Board’s holdings in NIKE were worth $4,508,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in NKE. Douglas Lane & Associates LLC lifted its holdings in NIKE by 8.8% in the second quarter. Douglas Lane & Associates LLC now owns 5,141 shares of the footwear maker’s stock valued at $387,000 after buying an additional 414 shares during the period. Mather Group LLC. boosted its position in shares of NIKE by 101.4% in the 2nd quarter. Mather Group LLC. now owns 25,361 shares of the footwear maker’s stock worth $1,911,000 after purchasing an additional 12,770 shares during the last quarter. Lynx Investment Advisory acquired a new stake in shares of NIKE during the second quarter worth $47,000. Baker Ellis Asset Management LLC increased its holdings in NIKE by 17.2% in the second quarter. Baker Ellis Asset Management LLC now owns 15,224 shares of the footwear maker’s stock valued at $1,147,000 after purchasing an additional 2,235 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC lifted its stake in NIKE by 11.9% in the second quarter. Kingswood Wealth Advisors LLC now owns 16,536 shares of the footwear maker’s stock valued at $1,246,000 after buying an additional 1,754 shares during the period. 64.25% of the stock is owned by institutional investors.

NIKE Stock Up 0.5 %

NKE stock opened at $78.77 on Monday. The business has a 50 day moving average of $80.18 and a 200 day moving average of $82.03. The firm has a market cap of $118.10 billion, a PE ratio of 22.57, a price-to-earnings-growth ratio of 1.91 and a beta of 1.03. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter in the prior year, the firm posted $0.94 earnings per share. The business’s revenue was down 10.4% on a year-over-year basis. On average, research analysts forecast that NIKE, Inc. will post 2.75 EPS for the current fiscal year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders 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 dividend yield of 2.03%. This is a boost 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%.

Analysts Set New Price Targets

NKE has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price target on NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a research note on Wednesday, October 2nd. Robert W. Baird upped their target price on shares of NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Piper Sandler reissued a “neutral” rating and set a $80.00 price target on shares of NIKE in a research report on Friday, September 20th. Deutsche Bank Aktiengesellschaft lowered their price objective 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. Finally, Wells Fargo & Company boosted their target price on NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Fourteen research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $95.86.

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.