Bigelow Investment Advisors LLC Increases Stock Holdings in NIKE, Inc. (NYSE:NKE)

Bigelow Investment Advisors LLC raised its position in shares of NIKE, Inc. (NYSE:NKE) by 0.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,866 shares of the footwear maker’s stock after buying an additional 110 shares during the quarter. Bigelow Investment Advisors LLC’s holdings in NIKE were worth $1,288,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Morgan Stanley lifted its stake in shares of NIKE by 26.4% in the fourth quarter. Morgan Stanley now owns 30,720,119 shares of the footwear maker’s stock worth $3,594,561,000 after buying an additional 6,410,744 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of NIKE by 7.2% during the 2nd quarter. Alliancebernstein L.P. now owns 22,371,886 shares of the footwear maker’s stock worth $2,469,185,000 after acquiring an additional 1,493,704 shares during the last quarter. FMR LLC lifted its stake in shares of NIKE by 0.7% during the 3rd 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. Moneta Group Investment Advisors LLC increased its holdings in NIKE by 139,649.9% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 16,813,307 shares of the footwear maker’s stock valued at $1,967,325,000 after acquiring an additional 16,801,276 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of NIKE by 4.5% in the 3rd 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 last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on NKE shares. TD Cowen reaffirmed a “market perform” rating and set a $104.00 price target (down from $129.00) on shares of NIKE in a research note on Friday, December 22nd. Truist Financial reissued a “hold” rating and issued a $111.00 price objective on shares of NIKE in a research report on Tuesday, March 19th. Morgan Stanley lowered their price objective on shares of NIKE from $124.00 to $116.00 and set an “overweight” rating for the company in a research report on Wednesday, March 27th. Stifel Nicolaus lowered their price objective on shares of NIKE from $129.00 to $117.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Finally, Williams Trading reaffirmed a “sell” rating and issued a $85.00 price target (down previously from $92.00) on shares of NIKE in a research report on Monday, March 18th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $116.26.

NIKE Price Performance

NKE traded down $1.21 during midday trading on Friday, hitting $94.53. 11,221,767 shares of the company traded hands, compared to its average volume of 9,613,107. 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 company has a market capitalization of $142.68 billion, a price-to-earnings ratio of 28.12, a PEG ratio of 1.83 and a beta of 1.08. NIKE, Inc. has a 52-week low of $88.66 and a 52-week high of $128.68. The business has a 50 day simple moving average of $98.31 and a two-hundred day simple moving average of $103.37.

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

NIKE Announces Dividend

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