Soltis Investment Advisors LLC Acquires 3,918 Shares of NIKE, Inc. (NYSE:NKE)

Soltis Investment Advisors LLC lifted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 12.2% during the third quarter, HoldingsChannel reports. The firm owned 36,010 shares of the footwear maker’s stock after purchasing an additional 3,918 shares during the quarter. Soltis Investment Advisors LLC’s holdings in NIKE were worth $3,183,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Loomis Sayles & Co. L P raised its position in NIKE by 1,209,638.7% in the third quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock worth $575,342,000 after acquiring an additional 6,507,856 shares during the period. State Street Corp raised its holdings in shares of NIKE by 3.3% in the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock worth $5,140,796,000 after purchasing an additional 1,862,021 shares during the period. Holocene Advisors LP purchased a new position in NIKE in the third quarter valued at approximately $148,635,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in NIKE during the third quarter valued at $144,927,000. Finally, Renaissance Technologies LLC increased its position in NIKE by 351.7% in the second quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock worth $150,101,000 after buying an additional 1,550,611 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Morgan Stanley upped their price target on NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Piper Sandler reiterated a “neutral” rating and set a $80.00 target price on shares of NIKE in a research report on Friday, September 20th. Williams Trading upgraded shares of NIKE from a “sell” rating to a “buy” rating and lifted their target price for the stock from $67.00 to $93.00 in a research note on Friday, August 16th. TD Cowen dropped their price target on shares of NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research note on Monday, November 18th. Finally, Sanford C. Bernstein reduced their price objective on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research note on Thursday, September 19th. Fourteen investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $95.46.

NIKE Trading Down 1.1 %

NYSE NKE opened at $76.76 on Wednesday. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The stock’s 50-day simple moving average is $79.03 and its two-hundred day simple moving average is $81.46. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The company has a market capitalization of $115.09 billion, a price-to-earnings ratio of 21.99, a PEG ratio of 1.90 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The company had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. NIKE’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period last year, the firm posted $0.94 EPS. Research analysts forecast that NIKE, Inc. will post 2.73 EPS for the current fiscal year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a $0.40 dividend. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.08%. NIKE’s dividend payout ratio is 45.85%.

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.