Investment House LLC Has $8.08 Million Holdings in NIKE, Inc. (NYSE:NKE)

Investment House LLC increased its stake in shares of NIKE, Inc. (NYSE:NKE) by 4.1% in the fourth quarter, Holdings Channel reports. The firm owned 74,387 shares of the footwear maker’s stock after buying an additional 2,900 shares during the quarter. Investment House LLC’s holdings in NIKE were worth $8,076,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Oliver Luxxe Assets LLC grew its stake in shares of NIKE by 2.9% during the third quarter. Oliver Luxxe Assets LLC now owns 37,510 shares of the footwear maker’s stock worth $3,587,000 after purchasing an additional 1,041 shares during the period. Louisiana State Employees Retirement System acquired a new position in NIKE in the fourth quarter valued at about $8,034,000. Financial Gravity Asset Management Inc. grew its stake in NIKE by 2,332.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 184,042 shares of the footwear maker’s stock valued at $17,598,000 after acquiring an additional 176,476 shares during the period. International Assets Investment Management LLC grew its stake in NIKE by 10,184.3% in the fourth quarter. International Assets Investment Management LLC now owns 388,131 shares of the footwear maker’s stock valued at $42,139,000 after acquiring an additional 384,357 shares during the period. Finally, Franklin Street Advisors Inc. NC grew its stake in NIKE by 55.6% in the fourth quarter. Franklin Street Advisors Inc. NC now owns 194,164 shares of the footwear maker’s stock valued at $21,080,000 after acquiring an additional 69,363 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NKE has been the subject of a number of research analyst reports. Wells Fargo & Company decreased their target price on NIKE from $125.00 to $120.00 and set an “overweight” rating for the company in a research note on Friday, March 22nd. UBS Group decreased their target price on NIKE from $138.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Jefferies Financial Group reduced their price objective on NIKE from $110.00 to $100.00 and set a “hold” rating for the company in a research report on Friday, March 22nd. Piper Sandler reduced their price objective on NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a research report on Friday, March 22nd. Finally, TheStreet cut NIKE from a “b” rating to a “c+” rating in a research report on Tuesday, January 9th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $116.26.

NIKE Price Performance

Shares of NKE stock traded down $0.06 during trading hours on Monday, reaching $94.06. The company’s stock had a trading volume of 2,650,002 shares, compared to its average volume of 9,345,803. The firm’s 50 day simple moving average is $96.96 and its 200-day simple moving average is $103.37. The company has a market capitalization of $141.97 billion, a price-to-earnings ratio of 27.71, a PEG ratio of 1.82 and a beta of 1.09. NIKE, Inc. has a fifty-two week low of $88.66 and a fifty-two week high of $128.68. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63.

NIKE (NYSE:NKE) last announced 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. The business had revenue of $12.43 billion during the quarter, compared to analyst estimates of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. Sell-side analysts forecast that NIKE, Inc. will post 3.73 earnings per share for the current year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were given 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 was Friday, March 1st. NIKE’s dividend payout ratio is currently 43.53%.

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.