NIKE, Inc. (NYSE:NKE) Shares Acquired by Allen Capital Group LLC

Allen Capital Group LLC grew its stake in NIKE, Inc. (NYSE:NKE) by 12.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,677 shares of the footwear maker’s stock after acquiring an additional 3,312 shares during the quarter. Allen Capital Group LLC’s holdings in NIKE were worth $2,623,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Transcendent Capital Group LLC increased its stake in shares of NIKE by 97.6% in the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after acquiring an additional 200 shares during the last quarter. VitalStone Financial LLC increased its stake in shares of NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after acquiring an additional 150 shares during the last quarter. 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 acquiring an additional 376 shares during the last quarter. Triad Wealth Partners LLC acquired a new stake in shares of NIKE in the 2nd quarter worth $44,000. Finally, Riverview Trust Co acquired a new stake in shares of NIKE in the 3rd quarter worth $52,000. 64.25% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NKE. Piper Sandler reissued a “neutral” rating and set a $80.00 price objective on shares of NIKE in a research report on Friday, September 20th. Guggenheim cut their price objective on NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Barclays cut their price objective on NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 2nd. Stifel Nicolaus cut their price objective on NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research report on Monday, August 26th. Finally, TD Cowen cut their price objective on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research report on Monday. Fourteen equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and an average target price of $95.86.

NIKE Price Performance

Shares of NYSE NKE opened at $75.29 on Friday. 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, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The firm has a market capitalization of $112.88 billion, a PE ratio of 21.57, a price-to-earnings-growth ratio of 1.80 and a beta of 1.03. The stock’s 50-day simple moving average is $80.55 and its 200-day simple moving average is $82.78.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. During the same quarter last year, the company earned $0.94 EPS. The business’s quarterly revenue was down 10.4% on a year-over-year basis. As a group, equities research analysts forecast that NIKE, Inc. will post 2.74 EPS for the current fiscal year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio (DPR) 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.