Core Alternative Capital Boosts Holdings in NIKE, Inc. (NYSE:NKE)

Core Alternative Capital lifted its position in shares of NIKE, Inc. (NYSE:NKEGet Rating) by 645.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 954 shares of the footwear maker’s stock after buying an additional 826 shares during the quarter. Core Alternative Capital’s holdings in NIKE were worth $159,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. EPG Wealth Management LLC increased its holdings in shares of NIKE by 3.8% in the 3rd quarter. EPG Wealth Management LLC now owns 1,666 shares of the footwear maker’s stock valued at $242,000 after purchasing an additional 61 shares during the period. Mcdonald Partners LLC increased its holdings in shares of NIKE by 0.7% in the 3rd quarter. Mcdonald Partners LLC now owns 8,625 shares of the footwear maker’s stock valued at $1,253,000 after purchasing an additional 61 shares during the period. Gilman Hill Asset Management LLC increased its holdings in shares of NIKE by 1.5% in the 4th quarter. Gilman Hill Asset Management LLC now owns 4,693 shares of the footwear maker’s stock valued at $782,000 after purchasing an additional 70 shares during the period. Buffington Mohr McNeal increased its holdings in NIKE by 0.7% in the fourth quarter. Buffington Mohr McNeal now owns 9,517 shares of the footwear maker’s stock worth $1,586,000 after buying an additional 70 shares during the last quarter. Finally, Resources Management Corp CT ADV increased its holdings in NIKE by 0.5% in the fourth quarter. Resources Management Corp CT ADV now owns 15,025 shares of the footwear maker’s stock worth $2,504,000 after buying an additional 71 shares during the last quarter. Institutional investors and hedge funds own 65.35% of the company’s stock.

A number of equities analysts recently commented on NKE shares. The Goldman Sachs Group set a $177.00 price objective on NIKE in a report on Tuesday, March 22nd. JPMorgan Chase & Co. set a $164.00 target price on NIKE in a research report on Tuesday, May 3rd. Truist Financial upped their target price on NIKE from $164.00 to $176.00 in a research report on Tuesday, March 22nd. Wedbush decreased their target price on NIKE from $163.00 to $139.00 in a research report on Friday, May 13th. Finally, StockNews.com initiated coverage on NIKE in a research report on Thursday, March 31st. They set a “hold” rating for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $171.52.

NIKE stock traded down $4.89 during mid-day trading on Wednesday, hitting $111.01. 162,273 shares of the company were exchanged, compared to its average volume of 7,323,503. The company has a quick ratio of 2.18, a current ratio of 3.06 and a debt-to-equity ratio of 0.64. The business has a fifty day moving average of $126.34 and a 200 day moving average of $145.73. NIKE, Inc. has a 1-year low of $105.00 and a 1-year high of $179.10. The company has a market capitalization of $174.70 billion, a PE ratio of 30.58, a price-to-earnings-growth ratio of 2.17 and a beta of 0.95.

NIKE (NYSE:NKEGet Rating) last announced its earnings results on Monday, March 21st. The footwear maker reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.14. NIKE had a return on equity of 43.04% and a net margin of 13.06%. The company had revenue of $10.90 billion during the quarter, compared to analyst estimates of $10.61 billion. During the same period last year, the company posted $0.90 earnings per share. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. Research analysts expect that NIKE, Inc. will post 3.71 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Monday, June 6th will be paid a $0.305 dividend. The ex-dividend date is Friday, June 3rd. This represents a $1.22 dividend on an annualized basis and a dividend yield of 1.10%. NIKE’s dividend payout ratio (DPR) is presently 32.19%.

About NIKE (Get Rating)

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team, and league logos, as well as sells sports apparel.

Further Reading

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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