NIKE, Inc. (NYSE:NKE) Shares Purchased by Lincoln National Corp

Lincoln National Corp boosted its position in NIKE, Inc. (NYSE:NKE) by 1.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 54,630 shares of the footwear maker’s stock after purchasing an additional 517 shares during the period. Lincoln National Corp’s holdings in NIKE were worth $5,931,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC increased its holdings in NIKE by 0.7% in the third quarter. FMR LLC now owns 18,502,409 shares of the footwear maker’s stock valued at $1,769,200,000 after buying an additional 125,746 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of NIKE by 4.5% during the 3rd quarter. Northern Trust Corp now owns 15,557,676 shares of the footwear maker’s stock valued at $1,487,625,000 after acquiring an additional 674,198 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of NIKE by 2.3% during the 4th quarter. Fisher Asset Management LLC now owns 9,887,769 shares of the footwear maker’s stock valued at $1,073,515,000 after acquiring an additional 219,091 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in NIKE by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,200,932 shares of the footwear maker’s stock worth $766,829,000 after buying an additional 89,947 shares during the period. Finally, Newport Trust Company LLC bought a new stake in shares of NIKE in the 3rd quarter worth about $679,775,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analysts Set New Price Targets

NKE has been the subject of a number of recent research reports. Sanford C. Bernstein lowered their price objective on shares of NIKE from $134.00 to $120.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd. Barclays reduced their price target on shares of NIKE from $142.00 to $114.00 and set an “overweight” rating for the company in a research note on Monday, March 25th. Williams Trading reiterated a “sell” rating and issued a $85.00 target price (down from $92.00) on shares of NIKE in a report on Monday, March 18th. Piper Sandler dropped their target price on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a report on Friday, March 22nd. Finally, Oppenheimer downgraded shares of NIKE from an “outperform” rating to a “market perform” rating and set a $110.00 target price on the stock. in a report on Friday, February 16th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $116.26.

NIKE Trading Up 1.3 %

NKE stock traded up $1.21 during trading on Monday, hitting $93.36. The company had a trading volume of 6,655,736 shares, compared to its average volume of 9,251,164. 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 50-day moving average price of $95.51 and a 200-day moving average price of $102.97. NIKE, Inc. has a 12 month low of $88.66 and a 12 month high of $127.69. The stock has a market cap of $140.91 billion, a price-to-earnings ratio of 27.46, a PEG ratio of 1.78 and a beta of 1.07.

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

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend is Monday, June 3rd. NIKE’s dividend payout ratio is currently 43.53%.

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.