Cadence Bank Buys 1,520 Shares of NIKE, Inc. (NYSE:NKE)

Cadence Bank lifted its stake in NIKE, Inc. (NYSE:NKE) by 2.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 55,282 shares of the footwear maker’s stock after acquiring an additional 1,520 shares during the period. Cadence Bank’s holdings in NIKE were worth $4,887,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in NKE. Lazard Freres Gestion S.A.S. lifted its stake in shares of NIKE by 23.2% in the third quarter. Lazard Freres Gestion S.A.S. now owns 747,675 shares of the footwear maker’s stock worth $66,094,000 after buying an additional 140,632 shares during the last quarter. Quantbot Technologies LP acquired a new position in NIKE in the 3rd quarter valued at $6,844,000. D.A. Davidson & CO. raised its holdings in NIKE by 11.8% in the 3rd quarter. D.A. Davidson & CO. now owns 104,951 shares of the footwear maker’s stock worth $9,278,000 after acquiring an additional 11,108 shares during the period. Bowie Capital Management LLC lifted its position in NIKE by 13.6% during the 3rd quarter. Bowie Capital Management LLC now owns 406,342 shares of the footwear maker’s stock worth $35,921,000 after acquiring an additional 48,733 shares during the last quarter. Finally, Unison Asset Management LLC acquired a new position in NIKE during the 3rd quarter worth $218,000. Institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on NKE. Royal Bank of Canada dropped their price objective on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. Barclays dropped their price target on NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 2nd. Sanford C. Bernstein cut their price target on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a report on Thursday, September 19th. Robert W. Baird boosted their target price on shares of NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Finally, Truist Financial raised shares of NIKE from a “hold” rating to a “buy” rating and increased their price target for the company from $83.00 to $97.00 in a report on Thursday, October 10th. Fourteen equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $95.86.

NIKE Stock Performance

Shares of NYSE:NKE opened at $77.61 on Wednesday. The business has a fifty day moving average of $80.44 and a 200-day moving average of $82.32. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The firm has a market cap of $116.37 billion, a PE ratio of 22.24, a price-to-earnings-growth ratio of 1.92 and a beta of 1.03.

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

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.06%. The ex-dividend date is Monday, December 2nd. This is a boost from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is 42.41%.

NIKE 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.