TCG Advisory Services LLC Acquires New Position in NIKE, Inc. (NYSE:NKE)

TCG Advisory Services LLC bought a new stake in shares of NIKE, Inc. (NYSE:NKE) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,680 shares of the footwear maker’s stock, valued at approximately $291,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Newport Trust Company LLC acquired a new stake in shares of NIKE during the 3rd quarter worth approximately $679,775,000. Flossbach Von Storch AG grew its holdings in shares of NIKE by 433.5% during the 3rd quarter. Flossbach Von Storch AG now owns 4,128,587 shares of the footwear maker’s stock valued at $394,775,000 after purchasing an additional 3,354,677 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of NIKE by 117.0% during the 3rd quarter. Van ECK Associates Corp now owns 2,986,441 shares of the footwear maker’s stock valued at $285,564,000 after purchasing an additional 1,610,273 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in NIKE by 37.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,791,531 shares of the footwear maker’s stock worth $553,786,000 after buying an additional 1,583,541 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new position in shares of NIKE in the 3rd quarter worth approximately $97,724,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analysts Set New Price Targets

NKE has been the subject of several research reports. Sanford C. Bernstein reduced their price target on shares of NIKE from $134.00 to $120.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd. Barclays lowered their price objective on shares of NIKE from $142.00 to $114.00 and set an “overweight” rating for the company in a research note on Monday, March 25th. Evercore ISI lowered their price objective on shares of NIKE from $127.00 to $117.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Stifel Nicolaus decreased their price target on shares of NIKE from $129.00 to $117.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Finally, Truist Financial reiterated a “hold” rating and issued a $111.00 price objective on shares of NIKE in a research report on Tuesday, March 19th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and an average target price of $116.26.

NIKE Stock Performance

Shares of NIKE stock traded up $0.81 during mid-day trading on Monday, hitting $92.96. 1,534,504 shares of the stock were exchanged, compared to its average volume of 9,189,548. NIKE, Inc. has a 12 month low of $88.66 and a 12 month high of $127.69. The company has a 50-day simple moving average of $95.73 and a 200 day simple moving average of $103.04. 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 company has a market capitalization of $140.31 billion, a P/E ratio of 27.10, a P/E/G ratio of 1.78 and a beta of 1.07.

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

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend is Monday, June 3rd. NIKE’s payout ratio is currently 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.