Tyche Wealth Partners LLC Makes New $354,000 Investment in NIKE, Inc. (NYSE:NKE)

Tyche Wealth Partners LLC bought a new position in shares of NIKE, Inc. (NYSE:NKE) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 3,257 shares of the footwear maker’s stock, valued at approximately $354,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BCK Partners Inc. acquired a new stake in shares of NIKE in the 1st quarter worth approximately $2,839,000. Loomis Sayles & Co. L P grew its holdings in shares of NIKE by 138.2% in the 1st quarter. Loomis Sayles & Co. L P now owns 11,233 shares of the footwear maker’s stock worth $1,511,000 after acquiring an additional 6,518 shares during the period. Merit Financial Group LLC grew its holdings in shares of NIKE by 13.3% in the 1st quarter. Merit Financial Group LLC now owns 1,588 shares of the footwear maker’s stock worth $214,000 after acquiring an additional 186 shares during the period. Bridgewater Associates LP acquired a new stake in shares of NIKE in the 1st quarter worth approximately $278,000. Finally, Federated Hermes Inc. grew its holdings in shares of NIKE by 9.8% in the 1st quarter. Federated Hermes Inc. now owns 433,950 shares of the footwear maker’s stock worth $58,392,000 after acquiring an additional 38,903 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Performance

NKE opened at $94.84 on Thursday. The stock has a market cap of $143.15 billion, a PE ratio of 27.89, a P/E/G ratio of 1.80 and a beta of 1.08. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. NIKE, Inc. has a 1 year low of $88.66 and a 1 year high of $128.68. The stock’s 50 day simple moving average is $98.47 and its 200-day simple moving average is $103.42.

NIKE (NYSE:NKE) last announced its quarterly earnings results 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. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The firm had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.28 billion. Sell-side analysts forecast that NIKE, Inc. will post 3.73 EPS for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend was Friday, March 1st. NIKE’s dividend payout ratio (DPR) is 43.53%.

Analyst Ratings Changes

NKE has been the topic of a number of analyst reports. HSBC lowered their target price on NIKE from $120.00 to $115.00 and set a “hold” rating on the stock in a report on Monday, January 22nd. TheStreet cut NIKE from a “b” rating to a “c+” rating in a research note on Tuesday, January 9th. Wells Fargo & Company reduced their price objective on NIKE from $125.00 to $120.00 and set an “overweight” rating on the stock in a research note on Friday, March 22nd. Jefferies Financial Group reduced their price objective on NIKE from $110.00 to $100.00 and set a “hold” rating on the stock in a research note on Friday, March 22nd. Finally, Truist Financial restated a “hold” rating and set a $111.00 price objective on shares of NIKE in a research note on Tuesday, March 19th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $116.26.

About NIKE

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.