United Asset Strategies Inc. Purchases 629 Shares of NIKE, Inc. (NYSE:NKE)

United Asset Strategies Inc. grew its stake in NIKE, Inc. (NYSE:NKE) by 8.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,240 shares of the footwear maker’s stock after purchasing an additional 629 shares during the quarter. United Asset Strategies Inc.’s holdings in NIKE were worth $895,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in NKE. BCK Partners Inc. acquired a new position in shares of NIKE in the 1st quarter valued at $2,839,000. Loomis Sayles & Co. L P lifted its stake in shares of NIKE by 138.2% in the 1st quarter. Loomis Sayles & Co. L P now owns 11,233 shares of the footwear maker’s stock valued at $1,511,000 after purchasing an additional 6,518 shares during the period. Merit Financial Group LLC lifted its stake in shares of NIKE by 13.3% in the 1st quarter. Merit Financial Group LLC now owns 1,588 shares of the footwear maker’s stock valued at $214,000 after purchasing an additional 186 shares during the period. Bridgewater Associates LP acquired a new position in shares of NIKE in the 1st quarter valued at $278,000. Finally, Federated Hermes Inc. raised its stake in NIKE by 9.8% during the 1st quarter. Federated Hermes Inc. now owns 433,950 shares of the footwear maker’s stock worth $58,392,000 after buying an additional 38,903 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on NKE. Raymond James raised their price objective on NIKE from $121.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 19th. Bank of America raised NIKE from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $110.00 to $113.00 in a research note on Thursday, April 11th. HSBC dropped their price target on NIKE from $120.00 to $115.00 and set a “hold” rating on the stock in a research note on Monday, January 22nd. Wells Fargo & Company dropped their price target on NIKE from $125.00 to $120.00 and set an “overweight” rating on the stock in a research note on Friday, March 22nd. Finally, Piper Sandler dropped their price target on NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a research note on Friday, March 22nd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $116.26.

NIKE Stock Up 0.3 %

NKE opened at $93.38 on Wednesday. The company has a 50 day moving average of $98.65 and a 200 day moving average of $103.48. The company has a market cap of $140.94 billion, a PE ratio of 27.46, a price-to-earnings-growth ratio of 1.80 and a beta of 1.08. NIKE, Inc. has a 12 month low of $88.66 and a 12 month high of $128.68. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.29. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The business had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.28 billion. On average, sell-side analysts expect that NIKE, Inc. will post 3.73 EPS for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date was Friday, March 1st. NIKE’s payout ratio is presently 43.53%.

About NIKE

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.