Parkside Financial Bank & Trust Raises Position in NIKE, Inc. (NYSE:NKE)

Parkside Financial Bank & Trust boosted its stake in NIKE, Inc. (NYSE:NKE) by 3.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,395 shares of the footwear maker’s stock after buying an additional 299 shares during the quarter. Parkside Financial Bank & Trust’s holdings in NIKE were worth $911,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Excalibur Management Corp increased its position in NIKE by 1.9% during the third quarter. Excalibur Management Corp now owns 5,148 shares of the footwear maker’s stock worth $492,000 after purchasing an additional 98 shares during the last quarter. Baxter Bros Inc. increased its stake in NIKE by 2.0% during the 3rd quarter. Baxter Bros Inc. now owns 5,045 shares of the footwear maker’s stock worth $482,000 after buying an additional 100 shares during the period. First Pacific Financial increased its stake in NIKE by 1.3% during the 3rd quarter. First Pacific Financial now owns 8,098 shares of the footwear maker’s stock worth $774,000 after buying an additional 100 shares during the period. Jeppson Wealth Management LLC grew its holdings in NIKE by 4.5% during the 3rd quarter. Jeppson Wealth Management LLC now owns 2,315 shares of the footwear maker’s stock worth $221,000 after acquiring an additional 100 shares in the last quarter. Finally, Cairn Investment Group Inc. grew its holdings in NIKE by 4.2% during the 3rd quarter. Cairn Investment Group Inc. now owns 2,500 shares of the footwear maker’s stock worth $239,000 after acquiring an additional 100 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NKE. Telsey Advisory Group decreased their price objective on shares of NIKE from $140.00 to $120.00 and set an “outperform” rating for the company in a report on Monday, March 18th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $100.00 price objective (down from $110.00) on shares of NIKE in a research report on Friday, March 22nd. The Goldman Sachs Group cut their price objective on shares of NIKE from $135.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Truist Financial reiterated a “hold” rating and issued a $111.00 price objective on shares of NIKE in a research report on Tuesday, March 19th. Finally, Evercore ISI dropped their price target on shares of NIKE from $127.00 to $117.00 and set an “outperform” rating on the stock in a research report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.26.

NIKE Trading Up 0.3 %

NKE stock traded up $0.24 during trading on Tuesday, hitting $94.43. The company had a trading volume of 4,158,199 shares, compared to its average volume of 9,529,676. The firm has a 50-day moving average price of $97.85 and a 200-day moving average price of $103.46. The stock has a market cap of $142.53 billion, a price-to-earnings ratio of 27.84, a PEG ratio of 1.82 and a beta of 1.09. NIKE, Inc. has a 12 month low of $88.66 and a 12 month high of $128.68. The company has a quick ratio of 1.89, a current ratio of 2.74 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 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 company had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $12.28 billion. As a group, analysts predict that NIKE, Inc. will post 3.73 earnings per share for the current year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend was Friday, March 1st. NIKE’s dividend payout ratio (DPR) is 43.53%.

About NIKE

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.