Archer Investment Corp Boosts Stock Holdings in NIKE, Inc. (NYSE:NKE)

Archer Investment Corp raised its holdings in NIKE, Inc. (NYSE:NKE) by 4.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,918 shares of the footwear maker’s stock after purchasing an additional 236 shares during the period. Archer Investment Corp’s holdings in NIKE were worth $523,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Longview Partners Guernsey LTD bought a new position in shares of NIKE in the first quarter valued at approximately $533,533,000. Capital World Investors boosted its position in shares of NIKE by 612.2% in the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after acquiring an additional 4,457,376 shares during the period. PineStone Asset Management Inc. boosted its position in shares of NIKE by 138.3% in the second quarter. PineStone Asset Management Inc. now owns 2,715,689 shares of the footwear maker’s stock valued at $204,681,000 after acquiring an additional 1,576,049 shares during the period. Renaissance Technologies LLC boosted its position in shares of NIKE by 351.7% in the second quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock valued at $150,101,000 after acquiring an additional 1,550,611 shares during the period. Finally, KBC Group NV lifted its position in NIKE by 145.2% during the third quarter. KBC Group NV now owns 2,111,708 shares of the footwear maker’s stock valued at $186,675,000 after purchasing an additional 1,250,380 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

Shares of NKE stock traded up $0.80 during midday trading on Friday, hitting $76.48. The company had a trading volume of 2,112,318 shares, compared to its average volume of 11,434,797. The company’s 50 day simple moving average is $80.97 and its 200 day simple moving average is $83.39. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The stock has a market cap of $114.67 billion, a price-to-earnings ratio of 21.88, a PEG ratio of 1.86 and a beta of 1.03. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating 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 company had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. During the same period last year, the business posted $0.94 EPS. The company’s revenue was down 10.4% on a year-over-year basis. Research analysts anticipate that NIKE, Inc. will post 2.74 earnings per share for the current fiscal year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a $0.40 dividend. 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 dividend yield of 2.09%. NIKE’s payout ratio is 42.41%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. 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 report on Friday, August 16th. 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. Barclays dropped their target price on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 2nd. Sanford C. Bernstein decreased their price target on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research note on Thursday, September 19th. Finally, TD Cowen lifted their price target on shares of NIKE from $71.00 to $78.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Fourteen analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $96.48.

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.