Everence Capital Management Inc. Buys 7,750 Shares of NIKE, Inc. (NYSE:NKE)

Everence Capital Management Inc. boosted its stake in shares of NIKE, Inc. (NYSE:NKE) by 26.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 37,190 shares of the footwear maker’s stock after buying an additional 7,750 shares during the quarter. Everence Capital Management Inc.’s holdings in NIKE were worth $4,038,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in NKE. BCK Partners Inc. purchased a new stake in NIKE during the first quarter valued at about $2,839,000. Loomis Sayles & Co. L P raised its stake in NIKE by 138.2% in the first quarter. Loomis Sayles & Co. L P now owns 11,233 shares of the footwear maker’s stock valued at $1,511,000 after purchasing an additional 6,518 shares in the last quarter. Merit Financial Group LLC raised its stake in NIKE by 13.3% in the first quarter. Merit Financial Group LLC now owns 1,588 shares of the footwear maker’s stock valued at $214,000 after purchasing an additional 186 shares in the last quarter. Bridgewater Associates LP purchased a new stake in NIKE in the first quarter valued at approximately $278,000. Finally, Federated Hermes Inc. raised its stake in NIKE by 9.8% in the first quarter. Federated Hermes Inc. now owns 433,950 shares of the footwear maker’s stock valued at $58,392,000 after purchasing an additional 38,903 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Price Performance

NKE stock traded up $0.29 during midday trading on Tuesday, hitting $93.39. The company’s stock had a trading volume of 10,378,622 shares, compared to its average volume of 9,548,241. NIKE, Inc. has a 12 month low of $88.66 and a 12 month high of $128.68. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $140.96 billion, a price-to-earnings ratio of 27.34, a price-to-earnings-growth ratio of 1.79 and a beta of 1.09. The company has a 50 day moving average of $98.83 and a two-hundred day moving average of $103.49.

NIKE (NYSE:NKE) last posted its quarterly earnings results 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 return on equity of 39.41% and a net margin of 10.14%. The business had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.28 billion. On average, analysts expect that NIKE, Inc. will post 3.7 EPS for the current year.

NIKE Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NKE. Robert W. Baird lowered their target price on shares of NIKE from $140.00 to $125.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd. Raymond James raised their target price on shares of NIKE from $121.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, December 19th. Oppenheimer downgraded shares of NIKE from an “outperform” rating to a “market perform” rating and set a $110.00 price target on the stock. in a research note on Friday, February 16th. Telsey Advisory Group decreased their price target on shares of NIKE from $140.00 to $120.00 and set an “outperform” rating on the stock in a research note on Monday, March 18th. Finally, Evercore ISI decreased their target price on shares of NIKE from $127.00 to $117.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, 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.