NewSquare Capital LLC Raises Position in NIKE, Inc. (NYSE:NKE)

NewSquare Capital LLC raised its stake in NIKE, Inc. (NYSE:NKE) by 372.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 354 shares of the footwear maker’s stock after purchasing an additional 279 shares during the quarter. NewSquare Capital LLC’s holdings in NIKE were worth $38,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Iron Horse Wealth Management LLC grew its holdings in 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 purchasing an additional 140 shares during the period. Impact Partnership Wealth LLC grew its holdings in 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 purchasing an additional 181 shares during the period. Planned Solutions Inc. bought a new position in NIKE during the fourth quarter valued at $29,000. Raleigh Capital Management Inc. grew its holdings in NIKE by 134.2% during the third quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock valued at $36,000 after purchasing an additional 216 shares during the period. Finally, Stephens Consulting LLC grew its holdings in NIKE by 160.0% during the third quarter. Stephens Consulting LLC now owns 390 shares of the footwear maker’s stock valued at $37,000 after purchasing an additional 240 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Trading Up 0.7 %

NKE opened at $94.64 on Thursday. NIKE, Inc. has a one year low of $88.66 and a one year high of $128.68. The business has a 50 day simple moving average of $97.39 and a two-hundred day simple moving average of $103.38. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. The firm has a market capitalization of $142.85 billion, a price-to-earnings ratio of 27.84, a PEG ratio of 1.81 and a beta of 1.08.

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

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were paid a $0.37 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.48 annualized dividend and a dividend yield of 1.56%. NIKE’s payout ratio is currently 43.53%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Truist Financial reissued a “hold” rating and set a $111.00 price objective on shares of NIKE in a report on Tuesday, March 19th. Jefferies Financial Group cut their price target on NIKE from $110.00 to $100.00 and set a “hold” rating for the company in a report on Friday, March 22nd. Robert W. Baird cut their price target on NIKE from $140.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, March 22nd. Morgan Stanley cut their price target on NIKE from $124.00 to $116.00 and set an “overweight” rating for the company in a report on Wednesday, March 27th. Finally, Sanford C. Bernstein cut their price target on NIKE from $134.00 to $120.00 and set an “outperform” rating for the company in a report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $116.26.

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.