NIKE, Inc. (NYSE:NKE) Shares Bought by Lincoln National Corp

Lincoln National Corp increased its position in shares of NIKE, Inc. (NYSE:NKE) by 1.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 54,630 shares of the footwear maker’s stock after acquiring an additional 517 shares during the quarter. Lincoln National Corp’s holdings in NIKE were worth $5,931,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Concord Wealth Partners boosted its holdings in shares of NIKE by 900.0% in the 3rd quarter. Concord Wealth Partners now owns 1,690 shares of the footwear maker’s stock valued at $162,000 after purchasing an additional 1,521 shares during the last quarter. Verdence Capital Advisors LLC raised its holdings in shares of NIKE by 15.0% in the 3rd quarter. Verdence Capital Advisors LLC now owns 4,028 shares of the footwear maker’s stock worth $385,000 after purchasing an additional 525 shares in the last quarter. BluePath Capital Management LLC bought a new stake in shares of NIKE in the 3rd quarter worth approximately $130,000. Mackenzie Financial Corp increased its stake in NIKE by 37.1% in the 3rd quarter. Mackenzie Financial Corp now owns 1,221,314 shares of the footwear maker’s stock valued at $116,135,000 after buying an additional 330,754 shares during the period. Finally, WESPAC Advisors LLC grew its position in NIKE by 11.5% in the third quarter. WESPAC Advisors LLC now owns 11,551 shares of the footwear maker’s stock worth $1,105,000 after acquiring an additional 1,196 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Price Performance

NYSE NKE traded up $1.21 during trading on Monday, reaching $93.36. 6,655,736 shares of the company traded hands, compared to its average volume of 9,251,164. The company has a market cap of $140.91 billion, a price-to-earnings ratio of 27.46, a P/E/G ratio of 1.78 and a beta of 1.07. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. The stock’s 50 day moving average price is $95.51 and its two-hundred day moving average price is $102.97. NIKE, Inc. has a 1-year low of $88.66 and a 1-year high of $127.69.

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

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a dividend of $0.37 per share. The ex-dividend date is Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.59%. NIKE’s dividend payout ratio is 43.53%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NKE. Truist Financial reaffirmed a “hold” rating and set a $111.00 price objective on shares of NIKE in a report on Tuesday, March 19th. Citigroup decreased their price target on NIKE from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, March 14th. Oppenheimer downgraded NIKE from an “outperform” rating to a “market perform” rating and set a $110.00 target price on the stock. in a report on Friday, February 16th. TheStreet downgraded NIKE from a “b” rating to a “c+” rating in a report on Tuesday, January 9th. Finally, Evercore ISI reduced their price objective on NIKE from $127.00 to $117.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and an average 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.