Golden State Equity Partners Has $585,000 Holdings in NIKE, Inc. (NYSE:NKE)

Golden State Equity Partners grew its position in NIKE, Inc. (NYSE:NKE) by 3.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,386 shares of the footwear maker’s stock after purchasing an additional 184 shares during the quarter. Golden State Equity Partners’ holdings in NIKE were worth $585,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in NKE. Newport Trust Company LLC acquired a new position in shares of NIKE in the third quarter valued at approximately $679,775,000. Flossbach Von Storch AG grew its position in shares of NIKE by 433.5% in the third quarter. Flossbach Von Storch AG now owns 4,128,587 shares of the footwear maker’s stock valued at $394,775,000 after purchasing an additional 3,354,677 shares during the last quarter. Van ECK Associates Corp grew its position in shares of NIKE by 117.0% in the third quarter. Van ECK Associates Corp now owns 2,986,441 shares of the footwear maker’s stock valued at $285,564,000 after purchasing an additional 1,610,273 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of NIKE by 37.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,791,531 shares of the footwear maker’s stock valued at $553,786,000 after purchasing an additional 1,583,541 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new position in shares of NIKE in the third quarter valued at approximately $97,724,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Trading Up 0.2 %

NYSE NKE traded up $0.18 on Friday, reaching $94.12. The company had a trading volume of 6,115,744 shares, compared to its average volume of 9,124,711. The firm has a market cap of $142.06 billion, a price-to-earnings ratio of 27.68, a P/E/G ratio of 1.81 and a beta of 1.08. NIKE, Inc. has a fifty-two week low of $88.66 and a fifty-two week high of $128.68. The business has a 50 day moving average of $96.96 and a two-hundred day moving average of $103.30. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89.

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, beating analysts’ consensus estimates of $0.69 by $0.29. The business had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. Analysts forecast that NIKE, Inc. will post 3.73 EPS for the current year.

NIKE Dividend Announcement

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

Wall Street Analysts Forecast Growth

NKE has been the topic of several research reports. Morgan Stanley decreased their target price on NIKE from $124.00 to $116.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 27th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $100.00 price target (down from $110.00) on shares of NIKE in a research note on Friday, March 22nd. Piper Sandler cut their price target on NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a research note on Friday, March 22nd. Sanford C. Bernstein cut their price target on NIKE from $134.00 to $120.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Finally, Robert W. Baird cut their price target on NIKE from $140.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Two 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $116.26.

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.