Palisade Asset Management LLC Boosts Holdings in NIKE, Inc. (NYSE:NKE)

Palisade Asset Management LLC increased its holdings in NIKE, Inc. (NYSE:NKE) by 1.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 42,437 shares of the footwear maker’s stock after acquiring an additional 579 shares during the period. Palisade Asset Management LLC’s holdings in NIKE were worth $4,607,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in NKE. Iron Horse Wealth Management LLC lifted its stake in shares of NIKE by 120.7% in the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 140 shares during the last quarter. Planned Solutions Inc. bought a new position in shares of NIKE during the fourth quarter valued at about $29,000. Mizuho Securities Co. Ltd. increased its stake in shares of NIKE by 100.0% during the fourth quarter. Mizuho Securities Co. Ltd. now owns 340 shares of the footwear maker’s stock valued at $37,000 after buying an additional 170 shares during the period. NewSquare Capital LLC lifted its position in shares of NIKE by 372.0% in the 4th quarter. NewSquare Capital LLC now owns 354 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 279 shares during the period. Finally, Raleigh Capital Management Inc. grew its holdings in shares of NIKE by 134.2% during the 3rd quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock worth $36,000 after acquiring an additional 216 shares during the period. Institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Barclays dropped their price target on NIKE from $142.00 to $114.00 and set an “overweight” rating on the stock in a research report on Monday, March 25th. Telsey Advisory Group dropped their price objective on shares of NIKE from $140.00 to $120.00 and set an “outperform” rating on the stock in a research note on Monday, March 18th. The Goldman Sachs Group cut their price target on NIKE from $135.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. UBS Group lowered their price objective on NIKE from $138.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Finally, Truist Financial reissued a “hold” rating and issued a $111.00 target price on shares of NIKE in a research note on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $116.26.

NIKE Price Performance

NYSE NKE traded down $0.19 during trading hours on Wednesday, reaching $93.59. The company’s stock had a trading volume of 4,477,221 shares, compared to its average volume of 9,155,568. NIKE, Inc. has a 1 year low of $88.66 and a 1 year high of $126.46. The firm’s 50-day moving average price is $95.28 and its 200-day moving average price is $102.91. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $141.26 billion, a price-to-earnings ratio of 27.48, a PEG ratio of 1.78 and a beta of 1.07.

NIKE (NYSE:NKE) last issued 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 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 analysts’ expectations of $12.28 billion. On average, equities research analysts predict that NIKE, Inc. will post 3.73 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Monday, June 3rd. NIKE’s dividend payout ratio (DPR) is presently 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.