Welch & Forbes LLC Has $6.39 Million Stock Holdings in NIKE, Inc. (NYSE:NKE)

Welch & Forbes LLC lifted its stake in NIKE, Inc. (NYSE:NKE) by 0.8% in the fourth quarter, HoldingsChannel reports. The firm owned 58,832 shares of the footwear maker’s stock after purchasing an additional 454 shares during the period. Welch & Forbes LLC’s holdings in NIKE were worth $6,387,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Iron Horse Wealth Management LLC lifted its position in shares of NIKE by 120.7% in the 4th 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. Planned Solutions Inc. purchased a new stake in NIKE in the 4th quarter worth about $29,000. Raleigh Capital Management Inc. boosted its position in NIKE by 134.2% during the 3rd quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock worth $36,000 after acquiring an additional 216 shares during the period. OFI Invest Asset Management acquired a new position in shares of NIKE in the 3rd quarter valued at about $37,000. Finally, Mizuho Securities Co. Ltd. lifted its position in shares of NIKE by 100.0% in the fourth quarter. Mizuho Securities Co. Ltd. now owns 340 shares of the footwear maker’s stock worth $37,000 after purchasing an additional 170 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

NKE has been the topic of several research reports. Oppenheimer lowered shares of NIKE from an “outperform” rating to a “market perform” rating and set a $110.00 price objective on the stock. in a research note on Friday, February 16th. Citigroup lowered their price target on NIKE from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, March 14th. Piper Sandler decreased their price objective on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a report on Friday, March 22nd. Wells Fargo & Company reduced their price target on NIKE from $125.00 to $120.00 and set an “overweight” rating for the company in a research report on Friday, March 22nd. Finally, Sanford C. Bernstein reduced their target price 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 given a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $116.26.

NIKE Stock Up 0.4 %

Shares of NYSE:NKE traded up $0.42 during midday trading on Tuesday, reaching $93.78. 7,027,284 shares of the company were exchanged, compared to its average volume of 9,226,866. The stock has a fifty day simple moving average of $95.28 and a two-hundred day simple moving average of $102.91. The firm has a market cap of $141.55 billion, a PE ratio of 27.58, a P/E/G ratio of 1.78 and a beta of 1.07. 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, Inc. has a fifty-two week low of $88.66 and a fifty-two week high of $127.69.

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

NIKE Announces Dividend

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

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.