UNIVEST FINANCIAL Corp Has $3.76 Million Stock Position in NIKE, Inc. (NYSE:NKE)

UNIVEST FINANCIAL Corp raised its position in shares of NIKE, Inc. (NYSE:NKE) by 1.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,648 shares of the footwear maker’s stock after purchasing an additional 378 shares during the period. UNIVEST FINANCIAL Corp’s holdings in NIKE were worth $3,762,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC increased its holdings in NIKE by 0.7% in the third quarter. FMR LLC now owns 18,502,409 shares of the footwear maker’s stock valued at $1,769,200,000 after purchasing an additional 125,746 shares during the period. Northern Trust Corp raised its holdings in NIKE by 4.5% during the 3rd quarter. Northern Trust Corp now owns 15,557,676 shares of the footwear maker’s stock worth $1,487,625,000 after purchasing an additional 674,198 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of NIKE by 2.3% in the 4th quarter. Fisher Asset Management LLC now owns 9,887,769 shares of the footwear maker’s stock worth $1,073,515,000 after purchasing an additional 219,091 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of NIKE by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,200,932 shares of the footwear maker’s stock valued at $766,829,000 after purchasing an additional 89,947 shares during the last quarter. Finally, Newport Trust Company LLC acquired a new stake in shares of NIKE during the third quarter worth $679,775,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on NKE shares. Evercore ISI decreased their target price on NIKE from $127.00 to $117.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Morgan Stanley cut their target price on shares of NIKE from $124.00 to $116.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 27th. Robert W. Baird cut their target price on shares of NIKE from $140.00 to $125.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd. Williams Trading reissued a “sell” rating and set a $85.00 target price (down from $92.00) on shares of NIKE in a research note on Monday, March 18th. Finally, Citigroup cut their target price on shares of NIKE from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, March 14th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $116.26.

NIKE Price Performance

Shares of NKE stock traded up $0.42 during trading hours on Tuesday, reaching $93.78. The stock had a trading volume of 7,027,285 shares, compared to its average volume of 9,225,909. The stock’s fifty day simple moving average is $95.51 and its 200 day simple moving average is $102.97. 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, Inc. has a 12 month low of $88.66 and a 12 month high of $127.69. The firm has a market capitalization of $141.55 billion, a PE ratio of 27.70, a PEG ratio of 1.78 and a beta of 1.07.

NIKE (NYSE:NKE) last announced 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. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The business had revenue of $12.43 billion during the quarter, compared to analyst estimates of $12.28 billion. On average, equities research analysts predict that NIKE, Inc. will post 3.73 EPS for the current year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.48 annualized dividend and a yield of 1.58%. NIKE’s payout ratio is presently 43.53%.

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.