Abbrea Capital LLC Boosts Stock Position in NIKE, Inc. (NYSE:NKE)

Abbrea Capital LLC lifted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 0.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,877 shares of the footwear maker’s stock after buying an additional 240 shares during the period. Abbrea Capital LLC’s holdings in NIKE were worth $3,908,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of NKE. Excalibur Management Corp raised its holdings in shares of NIKE by 1.9% during the third quarter. Excalibur Management Corp now owns 5,148 shares of the footwear maker’s stock worth $492,000 after acquiring an additional 98 shares during the period. Baxter Bros Inc. raised its holdings in shares of NIKE by 2.0% during the third quarter. Baxter Bros Inc. now owns 5,045 shares of the footwear maker’s stock worth $482,000 after acquiring an additional 100 shares during the period. First Pacific Financial grew its position in NIKE by 1.3% in the third quarter. First Pacific Financial now owns 8,098 shares of the footwear maker’s stock valued at $774,000 after purchasing an additional 100 shares in the last quarter. Jeppson Wealth Management LLC grew its position in NIKE by 4.5% in the third quarter. Jeppson Wealth Management LLC now owns 2,315 shares of the footwear maker’s stock valued at $221,000 after purchasing an additional 100 shares in the last quarter. Finally, Cairn Investment Group Inc. grew its position in NIKE by 4.2% in the third quarter. Cairn Investment Group Inc. now owns 2,500 shares of the footwear maker’s stock valued at $239,000 after purchasing an additional 100 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group decreased their target price on shares of NIKE from $135.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, March 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. Robert W. Baird decreased their price objective on shares of NIKE from $140.00 to $125.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd. Wedbush reaffirmed an “outperform” rating and set a $115.00 target price on shares of NIKE in a report on Wednesday, March 27th. Finally, Wells Fargo & Company reduced their target price on shares of NIKE from $125.00 to $120.00 and set an “overweight” rating for the company in a report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and an average price target of $116.26.

NIKE Stock Performance

NYSE NKE traded up $0.18 during trading hours on Friday, reaching $94.12. 6,077,460 shares of the company were exchanged, compared to its average volume of 9,428,838. NIKE, Inc. has a 1 year low of $88.66 and a 1 year high of $128.68. The business’s 50 day simple moving average is $97.15 and its 200-day simple moving average is $103.32. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $142.06 billion, a P/E ratio of 27.86, a P/E/G ratio of 1.83 and a beta of 1.08.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share 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 the consensus estimate of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. On average, equities research analysts expect that NIKE, Inc. will post 3.73 earnings per share for the current 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 paid a $0.37 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.48 annualized dividend and a dividend yield of 1.57%. 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.