Cassaday & Co Wealth Management LLC Has $504,000 Stake in NIKE, Inc. (NYSE:NKE)

Cassaday & Co Wealth Management LLC grew its position in NIKE, Inc. (NYSE:NKE) by 3.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,697 shares of the footwear maker’s stock after acquiring an additional 206 shares during the period. Cassaday & Co Wealth Management LLC’s holdings in NIKE were worth $504,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. ING Groep NV bought a new position in NIKE during the third quarter worth $29,628,000. Cordatus Wealth Management LLC boosted its holdings in shares of NIKE by 19.5% during the 3rd quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker’s stock worth $3,669,000 after buying an additional 6,778 shares during the period. Bristlecone Advisors LLC grew its stake in NIKE by 14.3% in the 3rd quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock valued at $8,267,000 after buying an additional 11,665 shares during the last quarter. WoodTrust Financial Corp raised its holdings in NIKE by 19.9% in the 3rd quarter. WoodTrust Financial Corp now owns 98,289 shares of the footwear maker’s stock valued at $8,689,000 after acquiring an additional 16,303 shares during the period. Finally, Farmers & Merchants Investments Inc. lifted its position in NIKE by 44.8% during the third quarter. Farmers & Merchants Investments Inc. now owns 194,101 shares of the footwear maker’s stock worth $17,159,000 after acquiring an additional 60,008 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NKE opened at $74.86 on Tuesday. The business has a 50-day moving average of $80.79 and a 200-day moving average of $83.03. 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 company has a market capitalization of $112.24 billion, a price-to-earnings ratio of 21.45, a price-to-earnings-growth ratio of 1.86 and a beta of 1.03. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The company had revenue of $11.59 billion for 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 quarterly revenue was down 10.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.94 EPS. As a group, equities research analysts anticipate that NIKE, Inc. will post 2.74 earnings per share for the current 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 given 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 2.14%. NIKE’s dividend payout ratio is presently 42.41%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on NKE shares. JPMorgan Chase & Co. lowered their target price on NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd. Telsey Advisory Group reduced their target price on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Piper Sandler reaffirmed a “neutral” rating and set a $80.00 price target on shares of NIKE in a research report on Friday, September 20th. Royal Bank of Canada dropped their price objective 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, Robert W. Baird raised their target price on shares of NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Fourteen research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $96.30.

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.