Folger Nolan Fleming Douglas Capital Management Inc. Boosts Stock Holdings in NIKE, Inc. (NYSE:NKE)

Folger Nolan Fleming Douglas Capital Management Inc. raised its holdings in shares of NIKE, Inc. (NYSE:NKE) by 5.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,052 shares of the footwear maker’s stock after purchasing an additional 205 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in NIKE were worth $440,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Oliver Luxxe Assets LLC boosted its holdings in shares of NIKE by 2.9% in the 3rd quarter. Oliver Luxxe Assets LLC now owns 37,510 shares of the footwear maker’s stock valued at $3,587,000 after buying an additional 1,041 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in NIKE in the 4th quarter worth approximately $8,034,000. Financial Gravity Asset Management Inc. boosted its stake in NIKE by 2,332.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 184,042 shares of the footwear maker’s stock worth $17,598,000 after purchasing an additional 176,476 shares in the last quarter. International Assets Investment Management LLC boosted its stake in NIKE by 10,184.3% in the 4th quarter. International Assets Investment Management LLC now owns 388,131 shares of the footwear maker’s stock worth $42,139,000 after purchasing an additional 384,357 shares in the last quarter. Finally, Franklin Street Advisors Inc. NC boosted its stake in NIKE by 55.6% in the 4th quarter. Franklin Street Advisors Inc. NC now owns 194,164 shares of the footwear maker’s stock worth $21,080,000 after purchasing an additional 69,363 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

NKE traded up $0.18 on Friday, hitting $94.12. 6,115,744 shares of the company’s stock were exchanged, compared to its average volume of 9,124,711. NIKE, Inc. has a fifty-two week low of $88.66 and a fifty-two week 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 firm has a 50-day moving average price of $96.96 and a 200-day moving average price of $103.30. The stock has a market cap of $142.06 billion, a price-to-earnings ratio of 27.68, a P/E/G ratio of 1.81 and a beta of 1.08.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, topping 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 company had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.28 billion. As a group, equities analysts anticipate that NIKE, Inc. will post 3.73 earnings per share for the current year.

NIKE Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on NKE. The Goldman Sachs Group lowered their target price on shares of NIKE from $135.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Telsey Advisory Group reduced their price target on shares of NIKE from $140.00 to $120.00 and set an “outperform” rating for the company in a research report on Monday, March 18th. Piper Sandler reduced their price target on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a research report on Friday, March 22nd. HSBC reduced their price target on shares of NIKE from $120.00 to $115.00 and set a “hold” rating for the company in a research report on Monday, January 22nd. Finally, Barclays reduced their price target on shares of NIKE from $142.00 to $114.00 and set an “overweight” rating for the company in a research report on Monday, March 25th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average 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.