Texas Capital Bank Wealth Management Services Inc Purchases 1,241 Shares of NIKE, Inc. (NYSE:NKE)

Texas Capital Bank Wealth Management Services Inc raised its position in shares of NIKE, Inc. (NYSE:NKE) by 1.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,923 shares of the footwear maker’s stock after acquiring an additional 1,241 shares during the period. Texas Capital Bank Wealth Management Services Inc’s holdings in NIKE were worth $6,888,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Garrison Point Advisors LLC increased its holdings in NIKE by 1.9% in the 3rd quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock worth $593,000 after acquiring an additional 126 shares in the last quarter. Stephens Consulting LLC grew its holdings in shares of NIKE by 20.0% in the third quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock valued at $68,000 after purchasing an additional 128 shares during the period. PSI Advisors LLC increased its position in NIKE by 26.3% during the third quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock worth $55,000 after purchasing an additional 130 shares during the last quarter. Chapin Davis Inc. increased its position in NIKE by 1.2% during the third quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock worth $1,010,000 after purchasing an additional 133 shares during the last quarter. Finally, Meridian Financial Partners LLC raised its stake in NIKE by 1.6% during the third quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock worth $742,000 after purchasing an additional 133 shares during the period. 64.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NKE has been the subject of a number of recent analyst reports. Piper Sandler restated a “neutral” rating and set a $80.00 price target on shares of NIKE in a report on Friday, September 20th. Wells Fargo & Company lifted their target price on NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Royal Bank of Canada dropped their price target on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research note on Thursday, November 7th. Finally, Stifel Nicolaus decreased their target price on NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a report on Monday, August 26th. Fourteen equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $95.54.

NIKE Trading Up 0.3 %

Shares of NIKE stock opened at $78.58 on Friday. The company has a 50-day moving average of $79.46 and a two-hundred day moving average of $81.80. The stock has a market cap of $117.82 billion, a PE ratio of 22.52, a price-to-earnings-growth ratio of 1.92 and a beta of 1.02. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The business 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%. The company’s revenue was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.94 earnings per share. On average, research analysts anticipate that NIKE, Inc. will post 2.74 EPS for the current fiscal year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a dividend of $0.40 per share. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.04%. NIKE’s payout ratio is presently 45.85%.

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.