Bank of Hawaii Boosts Stock Holdings in NIKE, Inc. (NYSE:NKE)

Bank of Hawaii lifted its position in NIKE, Inc. (NYSE:NKE) by 69.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,876 shares of the footwear maker’s stock after acquiring an additional 3,626 shares during the quarter. Bank of Hawaii’s holdings in NIKE were worth $785,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Fisher Asset Management LLC lifted its holdings in NIKE by 6.0% during the third quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock worth $910,801,000 after acquiring an additional 583,207 shares during the period. Hartford Funds Management Co LLC raised its stake in shares of NIKE by 20.7% during the 3rd quarter. Hartford Funds Management Co LLC now owns 4,688 shares of the footwear maker’s stock worth $414,000 after purchasing an additional 805 shares during the period. Pekin Hardy Strauss Inc. boosted its holdings in shares of NIKE by 2.1% in the 3rd quarter. Pekin Hardy Strauss Inc. now owns 7,692 shares of the footwear maker’s stock worth $680,000 after buying an additional 155 shares during the last quarter. SevenBridge Financial Group LLC grew its position in NIKE by 1.7% during the third quarter. SevenBridge Financial Group LLC now owns 19,398 shares of the footwear maker’s stock valued at $1,715,000 after buying an additional 315 shares during the period. Finally, Larson Financial Group LLC raised its position in NIKE by 121.7% in the third quarter. Larson Financial Group LLC now owns 11,377 shares of the footwear maker’s stock worth $1,006,000 after acquiring an additional 6,246 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on NKE shares. Telsey Advisory Group decreased their price target on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Sanford C. Bernstein decreased their target price on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research report on Thursday, September 19th. Truist Financial raised NIKE from a “hold” rating to a “buy” rating and upped their price target for the company from $83.00 to $97.00 in a research report on Thursday, October 10th. TD Cowen decreased their price objective on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a report on Monday, November 18th. Finally, Robert W. Baird upped their price objective on shares of NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Fourteen research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, NIKE presently has an average rating of “Moderate Buy” and a consensus target price of $95.86.

NIKE Trading Up 2.4 %

Shares of NKE stock opened at $79.26 on Tuesday. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The firm has a market cap of $118.84 billion, a P/E ratio of 22.71, a price-to-earnings-growth ratio of 1.88 and a beta of 1.03. The business has a 50-day moving average price of $80.50 and a two-hundred day moving average price of $82.42. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39.

NIKE (NYSE:NKE) last issued its quarterly earnings results 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 business had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business’s quarterly revenue was down 10.4% on a year-over-year basis. During the same period last year, the business earned $0.94 earnings per share. Equities analysts anticipate that NIKE, Inc. will post 2.75 EPS for the current fiscal year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a $0.40 dividend. The ex-dividend date is Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.02%. NIKE’s payout ratio is currently 45.85%.

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.