Swiss National Bank Has $317.87 Million Stake in NIKE, Inc. (NYSE:NKE)

by · The Markets Daily

Swiss National Bank grew its stake in NIKE, Inc. (NYSE:NKE – Free Report) by 0.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,595,800 shares of the footwear maker’s stock after purchasing an additional 9,000 shares during the period. Swiss National Bank owned about 0.24% of NIKE worth $317,869,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. ING Groep NV acquired a new stake in shares of NIKE in the 3rd quarter valued at approximately $29,628,000. Cordatus Wealth Management LLC boosted its stake in shares of NIKE by 19.5% in the 3rd quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker’s stock valued at $3,669,000 after purchasing an additional 6,778 shares in the last quarter. Bristlecone Advisors LLC boosted its stake in shares of NIKE by 14.3% in the 3rd quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock valued at $8,267,000 after purchasing an additional 11,665 shares in the last quarter. WoodTrust Financial Corp boosted its stake in shares of NIKE by 19.9% in the 3rd quarter. WoodTrust Financial Corp now owns 98,289 shares of the footwear maker’s stock valued at $8,689,000 after purchasing an additional 16,303 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. boosted its stake in shares of NIKE by 44.8% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 194,101 shares of the footwear maker’s stock valued at $17,159,000 after purchasing an additional 60,008 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Performance

NYSE:NKE opened at $76.66 on Friday. The company has a fifty day moving average of $80.89 and a 200-day moving average of $83.20. The firm has a market capitalization of $114.94 billion, a P/E ratio of 21.97, a P/E/G ratio of 1.86 and a beta of 1.03. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39.

NIKE (NYSE:NKE – Get Free Report) last released its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.18. The company had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. NIKE’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.94 EPS. As a group, sell-side analysts anticipate that NIKE, Inc. will post 2.74 EPS for the current year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a $0.40 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.60 annualized dividend and a yield of 2.09%. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio (DPR) is presently 42.41%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Truist Financial upgraded shares of NIKE from a “hold” rating to a “buy” rating and raised their price target for the company from $83.00 to $97.00 in a research note on Thursday, October 10th. JPMorgan Chase & Co. dropped their price objective on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. Jefferies Financial Group raised their price objective on shares of NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a report on Monday, September 30th. Guggenheim dropped their price objective on shares of NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Finally, Stifel Nicolaus dropped their price objective on shares of NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a report on Monday, August 26th. Fourteen research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, NIKE presently has an average rating of “Moderate Buy” and a consensus target price of $96.48.

Read Our Latest Stock Analysis on NKE

About NIKE

(Free Report)

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.

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