Tradewinds LLC. Invests $250,000 in NIKE, Inc. (NYSE:NKE)

Tradewinds LLC. purchased a new position in shares of NIKE, Inc. (NYSE:NKE) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,832 shares of the footwear maker’s stock, valued at approximately $250,000.

A number of other large investors also recently bought and sold shares of the business. Garrison Point Advisors LLC lifted its position in shares of NIKE by 1.9% during the 3rd quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock valued at $593,000 after buying an additional 126 shares in the last quarter. Stephens Consulting LLC lifted its holdings in NIKE by 20.0% during the third quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock valued at $68,000 after purchasing an additional 128 shares in the last quarter. PSI Advisors LLC grew its position in shares of NIKE by 26.3% in the third quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock valued at $55,000 after purchasing an additional 130 shares during the period. Chapin Davis Inc. grew its position in shares of NIKE by 1.2% in the third quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock valued at $1,010,000 after purchasing an additional 133 shares during the period. Finally, Meridian Financial Partners LLC increased its stake in shares of NIKE by 1.6% during the third quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock worth $742,000 after purchasing an additional 133 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Trading Down 0.8 %

Shares of NKE stock opened at $73.33 on Thursday. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The firm has a market cap of $109.95 billion, a PE ratio of 21.01, a price-to-earnings-growth ratio of 1.80 and a beta of 1.03. The company has a 50-day moving average of $80.61 and a two-hundred day moving average of $82.83. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The firm had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm’s quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter last year, the company posted $0.94 EPS. On average, analysts predict that NIKE, Inc. will post 2.74 EPS for the current year.

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.18%. NIKE’s payout ratio is presently 42.41%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Barclays decreased their price target on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 2nd. Williams Trading upgraded NIKE from a “sell” rating to a “buy” rating and raised their target price for the company from $67.00 to $93.00 in a research report on Friday, August 16th. Morgan Stanley boosted their price target on NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Robert W. Baird raised their price objective on NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $80.00 target price on shares of NIKE in a research note on Friday, September 20th. Fourteen analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $96.30.

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.