Procyon Advisors LLC Boosts Stock Position in NIKE, Inc. (NYSE:NKE)

Procyon Advisors LLC raised its stake in NIKE, Inc. (NYSE:NKE) by 4.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,116 shares of the footwear maker’s stock after purchasing an additional 324 shares during the period. Procyon Advisors LLC’s holdings in NIKE were worth $881,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NKE. BCK Partners Inc. purchased a new stake in shares of NIKE during the first quarter worth about $2,839,000. Loomis Sayles & Co. L P grew its stake in shares of NIKE by 138.2% during the first quarter. Loomis Sayles & Co. L P now owns 11,233 shares of the footwear maker’s stock worth $1,511,000 after acquiring an additional 6,518 shares during the last quarter. Merit Financial Group LLC grew its stake in shares of NIKE by 13.3% during the first quarter. Merit Financial Group LLC now owns 1,588 shares of the footwear maker’s stock worth $214,000 after acquiring an additional 186 shares during the last quarter. Bridgewater Associates LP purchased a new stake in shares of NIKE during the first quarter worth about $278,000. Finally, Federated Hermes Inc. grew its stake in shares of NIKE by 9.8% during the first quarter. Federated Hermes Inc. now owns 433,950 shares of the footwear maker’s stock worth $58,392,000 after acquiring an additional 38,903 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on NKE shares. Piper Sandler dropped their target price on NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday, March 22nd. Royal Bank of Canada reissued a “sector perform” rating and issued a $100.00 price target (down from $110.00) on shares of NIKE in a report on Friday, March 22nd. Barclays reduced their target price on NIKE from $142.00 to $114.00 and set an “overweight” rating for the company in a research note on Monday. Sanford C. Bernstein dropped their target price on NIKE from $134.00 to $120.00 and set an “outperform” rating for the company in a report on Friday, March 22nd. Finally, TD Cowen reiterated a “market perform” rating and set a $104.00 price target (down from $129.00) on shares of NIKE in a report on Friday, December 22nd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.75.

NIKE Price Performance

Shares of NKE stock traded up $0.14 during mid-day trading on Thursday, hitting $94.27. 1,486,144 shares of the stock traded hands, compared to its average volume of 9,262,573. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. The firm has a market cap of $143.47 billion, a price-to-earnings ratio of 27.76, a price-to-earnings-growth ratio of 1.74 and a beta of 1.10. The company’s 50-day simple moving average is $101.65 and its 200-day simple moving average is $103.69. NIKE, Inc. has a twelve month low of $88.66 and a twelve month high of $128.68.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. The firm had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. As a group, equities research analysts expect that NIKE, Inc. will post 3.7 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Monday, March 4th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Friday, March 1st. NIKE’s dividend payout ratio is 43.53%.

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.