PDT Partners LLC Buys Shares of 2,585 NIKE, Inc. (NYSE:NKE)

PDT Partners LLC bought a new stake in shares of NIKE, Inc. (NYSE:NKE) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,585 shares of the footwear maker’s stock, valued at approximately $229,000.

A number of other institutional investors and hedge funds have also made changes to their positions in NKE. Teachers Insurance & Annuity Association of America purchased a new stake in shares of NIKE during the third quarter valued at approximately $30,000. VitalStone Financial LLC grew its holdings in shares of NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after buying an additional 150 shares during the last quarter. Bruce G. Allen Investments LLC grew its holdings in shares of NIKE by 272.5% during the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after buying an additional 376 shares during the last quarter. Triad Wealth Partners LLC purchased a new stake in shares of NIKE during the second quarter valued at approximately $44,000. Finally, Riverview Trust Co purchased a new stake in shares of NIKE during the third quarter valued at approximately $52,000. Institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Williams Trading upgraded shares of NIKE from a “sell” rating to a “buy” rating and increased their price target for the company from $67.00 to $93.00 in a report on Friday, August 16th. Jefferies Financial Group raised their target price on shares of NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Monday, September 30th. Evercore ISI dropped their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. Royal Bank of Canada dropped their target price on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a report on Thursday, November 7th. Finally, Piper Sandler restated a “neutral” rating and issued a $80.00 target price on shares of NIKE in a report on Friday, September 20th. Fourteen research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $95.71.

NIKE Stock Down 0.6 %

Shares of NKE opened at $78.37 on Thursday. The company has a market cap of $117.50 billion, a PE ratio of 22.46, a P/E/G ratio of 1.92 and a beta of 1.02. The business has a fifty day moving average of $79.67 and a 200 day moving average of $81.82. NIKE, Inc. has a 52-week low of $70.75 and a 52-week 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 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. 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 last year, the company earned $0.94 earnings per share. On average, sell-side analysts expect that NIKE, Inc. will post 2.75 EPS for the current year.

NIKE Increases Dividend

The business also recently declared 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 is Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a yield of 2.04%. NIKE’s dividend payout ratio (DPR) is currently 45.85%.

NIKE Company 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.