Syon Capital LLC Increases Stake in NIKE, Inc. (NYSE:NKE)

Syon Capital LLC grew its position in shares of NIKE, Inc. (NYSE:NKE) by 28.1% in the fourth quarter, Holdings Channel reports. The fund owned 5,841 shares of the footwear maker’s stock after buying an additional 1,283 shares during the quarter. Syon Capital LLC’s holdings in NIKE were worth $634,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Impact Partnership Wealth LLC boosted its position in shares of NIKE by 220.7% during the 3rd quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 181 shares during the last quarter. Iron Horse Wealth Management LLC boosted its position in shares of NIKE by 120.7% during 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 during the last quarter. Planned Solutions Inc. bought a new position in shares of NIKE during the 4th quarter valued at approximately $29,000. Raleigh Capital Management Inc. boosted its position in shares of NIKE by 134.2% during the 3rd quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock valued at $36,000 after acquiring an additional 216 shares during the last quarter. Finally, Stephens Consulting LLC boosted its position in shares of NIKE by 160.0% during the 3rd quarter. Stephens Consulting LLC now owns 390 shares of the footwear maker’s stock valued at $37,000 after acquiring an additional 240 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

NIKE Stock Performance

Shares of NIKE stock traded up $0.18 on Friday, reaching $94.12. 6,077,460 shares of the stock were exchanged, compared to its average volume of 9,428,838. 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 twelve month low of $88.66 and a twelve month high of $128.68. The firm has a market capitalization of $142.06 billion, a price-to-earnings ratio of 27.86, a PEG ratio of 1.83 and a beta of 1.08. The business has a 50 day moving average price of $97.15 and a two-hundred day moving average price of $103.32.

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

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend was Friday, March 1st. NIKE’s dividend payout ratio (DPR) is 43.53%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NKE. Barclays lowered their price target on NIKE from $142.00 to $114.00 and set an “overweight” rating for the company in a research report on Monday, March 25th. Royal Bank of Canada restated a “sector perform” rating and issued a $100.00 price target (down from $110.00) on shares of NIKE in a research report on Friday, March 22nd. HSBC lowered their price target on NIKE from $120.00 to $115.00 and set a “hold” rating for the company in a research report on Monday, January 22nd. Stifel Nicolaus lowered their price target on NIKE from $129.00 to $117.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Finally, Piper Sandler decreased their target price on NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a research 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 given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.