GUNN & Co INVESTMENT MANAGEMENT INC. Makes New $250,000 Investment in NIKE, Inc. (NYSE:NKE)

GUNN & Co INVESTMENT MANAGEMENT INC. acquired a new position in shares of NIKE, Inc. (NYSE:NKE) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 2,306 shares of the footwear maker’s stock, valued at approximately $250,000.

Several other large investors have also modified their holdings of the stock. Iron Horse Wealth Management LLC grew its holdings in shares of NIKE by 120.7% during the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 140 shares during the last quarter. Planned Solutions Inc. purchased a new position in NIKE during the 4th quarter worth approximately $29,000. Raleigh Capital Management Inc. increased its position in NIKE by 134.2% during the third quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock worth $36,000 after buying an additional 216 shares during the period. OFI Invest Asset Management purchased a new stake in NIKE in the third quarter valued at approximately $37,000. Finally, Tennessee Valley Asset Management Partners acquired a new stake in shares of NIKE in the fourth quarter valued at approximately $51,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Truist Financial reiterated a “hold” rating and issued a $111.00 price target on shares of NIKE in a research report on Tuesday, March 19th. TheStreet lowered NIKE from a “b” rating to a “c+” rating in a report on Tuesday, January 9th. Jefferies Financial Group dropped their price target on NIKE from $110.00 to $100.00 and set a “hold” rating on the stock in a research report on Friday, March 22nd. HSBC decreased their price objective on NIKE from $120.00 to $115.00 and set a “hold” rating for the company in a research report on Monday, January 22nd. Finally, Wedbush restated an “outperform” rating and set a $115.00 price target on shares of NIKE in a research note on Tuesday, April 30th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, NIKE has an average rating of “Moderate Buy” and a consensus target price of $116.26.

NIKE Stock Down 0.3 %

NKE opened at $92.15 on Monday. NIKE, Inc. has a 12 month low of $88.66 and a 12 month high of $127.69. The business has a 50-day moving average of $95.73 and a two-hundred day moving average of $103.04. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. The stock has a market capitalization of $139.09 billion, a price-to-earnings ratio of 27.10, a price-to-earnings-growth ratio of 1.78 and a beta of 1.07.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, topping the consensus estimate of $0.69 by $0.29. The firm had revenue of $12.43 billion during the quarter, compared to analyst estimates of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. On average, research analysts expect that NIKE, Inc. will post 3.73 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.37 per share. The ex-dividend date is Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.61%. NIKE’s payout ratio is 43.53%.

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.