Commonwealth Financial Services LLC Invests $208,000 in NIKE, Inc. (NYSE:NKE)

Commonwealth Financial Services LLC bought a new stake in shares of NIKE, Inc. (NYSE:NKE) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,743 shares of the footwear maker’s stock, valued at approximately $208,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its position in shares of NIKE by 6,029.6% during the fourth quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock worth $516,166,000 after acquiring an additional 6,709,985 shares during the last quarter. Loomis Sayles & Co. L P lifted its stake in NIKE by 1,209,638.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock worth $575,342,000 after purchasing an additional 6,507,856 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in NIKE by 358.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock worth $228,165,000 after purchasing an additional 2,357,745 shares in the last quarter. State Street Corp boosted its holdings in shares of NIKE by 3.3% during the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after purchasing an additional 1,862,021 shares during the last quarter. Finally, Holocene Advisors LP purchased a new position in shares of NIKE during the third quarter valued at about $148,635,000. 64.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on NKE shares. Robert W. Baird decreased their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. Evercore ISI decreased their price objective on NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Truist Financial cut their target price on shares of NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. Telsey Advisory Group downgraded shares of NIKE from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $93.00 to $80.00 in a research note on Friday, December 20th. Finally, BMO Capital Markets lifted their price objective on shares of NIKE from $92.00 to $95.00 and gave the stock an “outperform” rating in a research note on Monday. Fourteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and a consensus price target of $89.77.

NIKE Stock Down 0.4 %

NKE stock opened at $76.61 on Tuesday. The firm has a 50 day moving average of $75.60 and a 200 day moving average of $78.06. The stock has a market capitalization of $113.32 billion, a PE ratio of 23.65, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. NIKE, Inc. has a 52 week low of $70.32 and a 52 week high of $107.43. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The firm had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.03 earnings per share. Sell-side analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.09%. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

Insider Buying and Selling

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The stock was bought at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the transaction, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.10% of the company’s stock.

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.