Beacon Investment Advisory Services Inc. Purchases 3,352 Shares of NIKE, Inc. (NYSE:NKE)

Beacon Investment Advisory Services Inc. boosted its stake in NIKE, Inc. (NYSE:NKE) by 74.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,832 shares of the footwear maker’s stock after acquiring an additional 3,352 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in NIKE were worth $692,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. ING Groep NV bought a new stake in NIKE in the third quarter valued at $29,628,000. Cordatus Wealth Management LLC lifted its position in NIKE by 19.5% during the third quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker’s stock valued at $3,669,000 after buying an additional 6,778 shares during the period. Bristlecone Advisors LLC lifted its position in NIKE by 14.3% during the third quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock valued at $8,267,000 after buying an additional 11,665 shares during the period. Lazard Freres Gestion S.A.S. lifted its position in NIKE by 23.2% during the third quarter. Lazard Freres Gestion S.A.S. now owns 747,675 shares of the footwear maker’s stock valued at $66,094,000 after buying an additional 140,632 shares during the period. Finally, D.A. Davidson & CO. lifted its position in NIKE by 11.8% during the third quarter. D.A. Davidson & CO. now owns 104,951 shares of the footwear maker’s stock valued at $9,278,000 after buying an additional 11,108 shares during the period. Institutional investors own 64.25% of the company’s stock.

NIKE Trading Up 0.9 %

Shares of NYSE:NKE opened at $79.09 on Tuesday. The stock has a 50 day moving average of $80.18 and a 200 day moving average of $82.03. The company has a market cap of $118.58 billion, a PE ratio of 22.66, a price-to-earnings-growth ratio of 1.91 and a beta of 1.02. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $11.64 billion. During the same period in the previous year, the firm earned $0.94 EPS. The firm’s revenue was down 10.4% compared to the same quarter last year. As a group, equities research analysts expect that NIKE, Inc. will post 2.75 EPS for the current 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 issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a yield of 2.02%. NIKE’s payout ratio is currently 42.41%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on NKE shares. Deutsche Bank Aktiengesellschaft lowered their price target on NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Jefferies Financial Group boosted their target price on NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Monday, September 30th. UBS Group boosted their target price on NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Bank of America decreased their target price on NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Finally, Piper Sandler reissued a “neutral” rating and issued a $80.00 target price on shares of NIKE in a research report on Friday, September 20th. Fourteen analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $95.71.

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.