Slow Capital Inc. Grows Position in NIKE, Inc. (NYSE:NKE)

Slow Capital Inc. grew its stake in shares of NIKE, Inc. (NYSE:NKE) by 2.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 23,508 shares of the footwear maker’s stock after buying an additional 459 shares during the quarter. Slow Capital Inc.’s holdings in NIKE were worth $2,557,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Financial Freedom LLC bought a new position in shares of NIKE during the fourth quarter valued at approximately $29,000. Iron Horse Wealth Management LLC raised its holdings in shares of NIKE by 120.7% during the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 140 shares in the last quarter. Impact Partnership Wealth LLC raised its holdings in shares of NIKE by 220.7% during the third quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 181 shares in the last quarter. Planned Solutions Inc. bought a new position in shares of NIKE during the fourth quarter valued at approximately $29,000. Finally, Worth Asset Management LLC bought a new position in NIKE in the first quarter worth $32,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

NKE traded up $0.29 on Wednesday, hitting $93.39. 10,388,153 shares of the company’s stock traded hands, compared to its average volume of 11,716,572. The company’s 50 day simple moving average is $98.65 and its 200-day simple moving average is $103.48. The firm has a market cap of $140.96 billion, a price-to-earnings ratio of 27.47, a P/E/G ratio of 1.80 and a beta of 1.08. NIKE, Inc. has a one year low of $88.66 and a one year high of $128.68. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.29. The company had revenue of $12.43 billion for the quarter, compared to the consensus estimate of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. As a group, research analysts anticipate that NIKE, Inc. will post 3.73 EPS for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date was Friday, March 1st. NIKE’s payout ratio is 43.53%.

Analysts Set New Price Targets

A number of research firms have issued reports on NKE. Wells Fargo & Company decreased their price objective on NIKE from $125.00 to $120.00 and set an “overweight” rating for the company in a report on Friday, March 22nd. Telsey Advisory Group reduced their price target on NIKE from $140.00 to $120.00 and set an “outperform” rating for the company in a report on Monday, March 18th. Truist Financial restated a “hold” rating and set a $111.00 price target on shares of NIKE in a report on Tuesday, March 19th. Williams Trading restated a “sell” rating and set a $85.00 price target (down from $92.00) on shares of NIKE in a report on Monday, March 18th. Finally, HSBC reduced their price target on NIKE from $120.00 to $115.00 and set a “hold” rating for the company in a report on Monday, January 22nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $116.26.

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.