United Asset Strategies Inc. Purchases 629 Shares of NIKE, Inc. (NYSE:NKE)

United Asset Strategies Inc. lifted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 8.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 8,240 shares of the footwear maker’s stock after purchasing an additional 629 shares during the quarter. United Asset Strategies Inc.’s holdings in NIKE were worth $895,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Moneta Group Investment Advisors LLC grew its holdings in NIKE by 139,649.9% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 16,813,307 shares of the footwear maker’s stock worth $1,967,325,000 after acquiring an additional 16,801,276 shares during the last quarter. Norges Bank acquired a new stake in shares of NIKE in the fourth quarter valued at approximately $1,345,203,000. Newport Trust Company LLC bought a new position in NIKE in the 3rd quarter worth approximately $679,775,000. Morgan Stanley lifted its holdings in NIKE by 26.4% during the 4th quarter. Morgan Stanley now owns 30,720,119 shares of the footwear maker’s stock worth $3,594,561,000 after buying an additional 6,410,744 shares in the last quarter. Finally, Flossbach Von Storch AG boosted its position in NIKE by 433.5% in the 3rd quarter. Flossbach Von Storch AG now owns 4,128,587 shares of the footwear maker’s stock valued at $394,775,000 after buying an additional 3,354,677 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NKE. Deutsche Bank Aktiengesellschaft cut their target price on shares of NIKE from $132.00 to $128.00 and set a “buy” rating on the stock in a research report on Friday, December 22nd. Stifel Nicolaus dropped their target price on shares of NIKE from $129.00 to $117.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Truist Financial reaffirmed a “hold” rating and issued a $111.00 price target on shares of NIKE in a research note on Tuesday, March 19th. Robert W. Baird dropped their target price on shares of NIKE from $140.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, March 22nd. Finally, Raymond James upped their price objective on NIKE from $121.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 19th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $116.26.

NIKE Trading Up 0.3 %

NKE stock opened at $93.38 on Wednesday. NIKE, Inc. has a 52 week low of $88.66 and a 52 week high of $128.68. 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 company’s 50-day simple moving average is $98.65 and its 200 day simple moving average is $103.48. The company has a market capitalization of $140.94 billion, a PE ratio of 27.46, a price-to-earnings-growth ratio of 1.80 and a beta of 1.08.

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. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The business had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $12.28 billion. As a group, sell-side analysts anticipate that NIKE, Inc. will post 3.73 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were given a dividend of $0.37 per share. The ex-dividend date was Friday, March 1st. This represents a $1.48 annualized dividend and a yield of 1.58%. NIKE’s dividend payout ratio is currently 43.53%.

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.