Harbour Investments Inc. Acquires 357 Shares of NIKE, Inc. (NYSE:NKE)

Harbour Investments Inc. increased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 6.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,749 shares of the footwear maker’s stock after purchasing an additional 357 shares during the quarter. Harbour Investments Inc.’s holdings in NIKE were worth $508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of NKE. Ontario Teachers Pension Plan Board bought a new position in shares of NIKE during the 1st quarter valued at $868,000. Edgestream Partners L.P. bought a new stake in shares of NIKE during the 1st quarter valued at about $727,000. Jacobi Capital Management LLC increased its position in shares of NIKE by 12.6% during the 1st quarter. Jacobi Capital Management LLC now owns 4,532 shares of the footwear maker’s stock valued at $426,000 after purchasing an additional 508 shares during the last quarter. Hillsdale Investment Management Inc. increased its position in shares of NIKE by 403.1% during the 1st quarter. Hillsdale Investment Management Inc. now owns 9,554 shares of the footwear maker’s stock valued at $898,000 after purchasing an additional 7,655 shares during the last quarter. Finally, Beaumont Financial Advisors LLC lifted its stake in shares of NIKE by 2.5% in the 1st quarter. Beaumont Financial Advisors LLC now owns 10,856 shares of the footwear maker’s stock worth $1,020,000 after purchasing an additional 262 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Performance

NYSE:NKE opened at $76.66 on Friday. The company has a market cap of $114.94 billion, a price-to-earnings ratio of 21.97, a PEG ratio of 1.86 and a beta of 1.03. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. The stock’s 50 day simple moving average is $80.89 and its two-hundred day simple moving average is $83.27. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. During the same quarter in the previous year, the business posted $0.94 earnings per share. NIKE’s quarterly revenue was down 10.4% on a year-over-year basis. As a group, equities analysts anticipate that NIKE, Inc. will post 2.74 earnings per share for the current fiscal year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.09%. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, December 2nd. NIKE’s dividend payout ratio is currently 45.85%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. UBS Group upped their target price on shares of NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Piper Sandler reiterated a “neutral” rating and set a $80.00 target price on shares of NIKE in a research report on Friday, September 20th. Truist Financial raised NIKE from a “hold” rating to a “buy” rating and boosted their price target for the company from $83.00 to $97.00 in a report on Thursday, October 10th. Barclays decreased their price objective on NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company boosted their price objective on NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Fourteen analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.48.

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.