Harvest Fund Management Co. Ltd Acquires 2,416 Shares of NIKE, Inc. (NYSE:NKE)

Harvest Fund Management Co. Ltd grew its holdings in shares of NIKE, Inc. (NYSE:NKE) by 279.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,280 shares of the footwear maker’s stock after purchasing an additional 2,416 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in NIKE were worth $356,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Excalibur Management Corp raised its holdings in shares of NIKE by 1.9% during the 3rd quarter. Excalibur Management Corp now owns 5,148 shares of the footwear maker’s stock valued at $492,000 after purchasing an additional 98 shares in the last quarter. Baxter Bros Inc. raised its holdings in shares of NIKE by 2.0% during the 3rd quarter. Baxter Bros Inc. now owns 5,045 shares of the footwear maker’s stock valued at $482,000 after purchasing an additional 100 shares in the last quarter. First Pacific Financial raised its holdings in shares of NIKE by 1.3% during the 3rd quarter. First Pacific Financial now owns 8,098 shares of the footwear maker’s stock valued at $774,000 after purchasing an additional 100 shares in the last quarter. Jeppson Wealth Management LLC raised its holdings in shares of NIKE by 4.5% during the 3rd quarter. Jeppson Wealth Management LLC now owns 2,315 shares of the footwear maker’s stock valued at $221,000 after purchasing an additional 100 shares in the last quarter. Finally, Cairn Investment Group Inc. grew its stake in NIKE by 4.2% in the 3rd quarter. Cairn Investment Group Inc. now owns 2,500 shares of the footwear maker’s stock valued at $239,000 after buying an additional 100 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on NKE shares. Bank of America upgraded shares of NIKE from a “neutral” rating to a “buy” rating and raised their target price for the company from $110.00 to $113.00 in a research note on Thursday, April 11th. Morgan Stanley lowered their target price on shares of NIKE from $124.00 to $116.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 27th. Barclays lowered their target price on shares of NIKE from $142.00 to $114.00 and set an “overweight” rating on the stock in a research note on Monday, March 25th. The Goldman Sachs Group lowered their target price on shares of NIKE from $135.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Finally, Piper Sandler lowered their target price on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a research note on Friday, March 22nd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $116.26.

NIKE Price Performance

NKE stock traded up $0.62 during trading on Wednesday, hitting $94.64. 6,486,783 shares of the stock traded hands, compared to its average volume of 9,522,686. NIKE, Inc. has a one year low of $88.66 and a one year high of $128.68. The stock has a market cap of $142.85 billion, a price-to-earnings ratio of 27.82, a P/E/G ratio of 1.82 and a beta of 1.08. The company has a 50 day simple moving average of $97.63 and a 200 day simple moving average of $103.44. 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 (NYSE:NKE) last announced its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.29. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The company had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.28 billion. Equities analysts expect that NIKE, Inc. will post 3.73 EPS for the current fiscal year.

NIKE Dividend Announcement

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

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.