Verdence Capital Advisors LLC Grows Position in NIKE, Inc. (NYSE:NKE)

Verdence Capital Advisors LLC boosted its stake in shares of NIKE, Inc. (NYSE:NKE) by 2.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,144 shares of the footwear maker’s stock after acquiring an additional 116 shares during the period. Verdence Capital Advisors LLC’s holdings in NIKE were worth $450,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of NKE. Lindbrook Capital LLC grew its position in shares of NIKE by 25.9% during the fourth quarter. Lindbrook Capital LLC now owns 6,396 shares of the footwear maker’s stock valued at $694,000 after purchasing an additional 1,316 shares in the last quarter. Calamos Wealth Management LLC increased its stake in NIKE by 36.4% in the 4th quarter. Calamos Wealth Management LLC now owns 94,932 shares of the footwear maker’s stock worth $10,307,000 after acquiring an additional 25,341 shares during the last quarter. Planning Directions Inc. bought a new stake in NIKE in the 4th quarter worth approximately $212,000. abrdn plc raised its holdings in shares of NIKE by 30.0% during the 4th quarter. abrdn plc now owns 945,072 shares of the footwear maker’s stock worth $102,606,000 after acquiring an additional 218,191 shares in the last quarter. Finally, Vantage Investment Partners LLC boosted its position in shares of NIKE by 22.6% during the 4th quarter. Vantage Investment Partners LLC now owns 336,319 shares of the footwear maker’s stock valued at $36,514,000 after acquiring an additional 61,976 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Citigroup decreased their price target on shares of NIKE from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, March 14th. Wedbush reaffirmed an “outperform” rating and issued a $115.00 price target on shares of NIKE in a report on Wednesday, March 27th. Piper Sandler reduced their price objective on NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a research note on Friday, March 22nd. Jefferies Financial Group lowered their price objective on NIKE from $110.00 to $100.00 and set a “hold” rating for the company in a research note on Friday, March 22nd. Finally, Morgan Stanley cut their target price on NIKE from $124.00 to $116.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 27th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, NIKE has an average rating of “Moderate Buy” and a consensus target price of $116.26.

NIKE Stock Down 0.3 %

NYSE:NKE opened at $94.20 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. NIKE, Inc. has a 1-year low of $88.66 and a 1-year high of $128.68. The company has a 50-day moving average of $97.85 and a 200 day moving average of $103.46. The firm has a market cap of $142.18 billion, a PE ratio of 27.71, a price-to-earnings-growth ratio of 1.82 and a beta of 1.09.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $12.28 billion. As a group, research analysts anticipate that NIKE, Inc. will post 3.73 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were issued a $0.37 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.57%. NIKE’s dividend payout ratio 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.