Verdence Capital Advisors LLC Has $450,000 Stock Holdings in NIKE, Inc. (NYSE:NKE)

Verdence Capital Advisors LLC increased its position in shares of NIKE, Inc. (NYSE:NKE) by 2.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,144 shares of the footwear maker’s stock after acquiring an additional 116 shares during the quarter. Verdence Capital Advisors LLC’s holdings in NIKE were worth $450,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of NKE. FMR LLC lifted its stake in NIKE by 0.7% in the third quarter. FMR LLC now owns 18,502,409 shares of the footwear maker’s stock valued at $1,769,200,000 after buying an additional 125,746 shares in the last quarter. Northern Trust Corp boosted its position in shares of NIKE by 4.5% during the third quarter. Northern Trust Corp now owns 15,557,676 shares of the footwear maker’s stock worth $1,487,625,000 after buying an additional 674,198 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of NIKE by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,200,932 shares of the footwear maker’s stock worth $766,829,000 after buying an additional 89,947 shares in the last quarter. Newport Trust Company LLC acquired a new position in NIKE during the 3rd quarter worth approximately $679,775,000. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of 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 acquiring an additional 1,583,541 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Down 0.3 %

NKE stock opened at $94.20 on Tuesday. The firm has a 50-day moving average price of $97.85 and a 200-day moving average price of $103.46. 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. The stock has a market capitalization of $142.18 billion, a P/E ratio of 27.71, a price-to-earnings-growth ratio of 1.82 and a beta of 1.09.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $12.28 billion. As a group, equities research analysts anticipate that NIKE, Inc. will post 3.73 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.57%. The ex-dividend date was Friday, March 1st. NIKE’s dividend payout ratio (DPR) is 43.53%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Evercore ISI reduced their target price on shares of NIKE from $127.00 to $117.00 and set an “outperform” rating for the company in a report on Friday, March 22nd. Piper Sandler decreased their target price on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a research note on Friday, March 22nd. Oppenheimer lowered shares of NIKE from an “outperform” rating to a “market perform” rating and set a $110.00 price target on the stock. in a research report on Friday, February 16th. The Goldman Sachs Group decreased their price objective on shares of NIKE from $135.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Finally, Citigroup reduced their target price on NIKE from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, March 14th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.26.

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.