NIKE, Inc. (NYSE:NKE) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its position in NIKE, Inc. (NYSE:NKE) by 4.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 548,318 shares of the footwear maker’s stock after acquiring an additional 24,614 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in NIKE were worth $48,471,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. VitalStone Financial LLC raised its position in NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after acquiring an additional 150 shares in the last quarter. Bruce G. Allen Investments LLC lifted its stake in shares of NIKE by 272.5% in the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after purchasing an additional 376 shares during the period. Triad Wealth Partners LLC purchased a new stake in NIKE during the second quarter worth about $44,000. MFA Wealth Advisors LLC purchased a new stake in NIKE during the second quarter worth about $46,000. Finally, Lynx Investment Advisory acquired a new stake in shares of NIKE in the 2nd quarter worth approximately $47,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NKE. Barclays lowered their price objective on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 2nd. Truist Financial upgraded NIKE from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $83.00 to $97.00 in a research report on Thursday, October 10th. JPMorgan Chase & Co. dropped their price target on NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Daiwa America downgraded NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Finally, Wells Fargo & Company lifted their price objective on NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Fourteen investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $95.86.

NIKE Stock Performance

NYSE:NKE opened at $78.34 on Friday. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The stock has a market cap of $117.46 billion, a P/E ratio of 22.45, a PEG ratio of 1.90 and a beta of 1.03. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The firm has a 50-day moving average of $80.34 and a two-hundred day moving average of $82.27.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. During the same period in the prior year, the company posted $0.94 EPS. NIKE’s quarterly revenue was down 10.4% on a year-over-year basis. On average, research analysts expect that NIKE, Inc. will post 2.75 earnings per share for the current fiscal year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.04%. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, December 2nd. NIKE’s dividend payout ratio is 42.41%.

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.