Bristlecone Advisors LLC Has $8.27 Million Stock Holdings in NIKE, Inc. (NYSE:NKE)

Bristlecone Advisors LLC grew its position in NIKE, Inc. (NYSE:NKE) by 14.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 93,521 shares of the footwear maker’s stock after acquiring an additional 11,665 shares during the quarter. Bristlecone Advisors LLC’s holdings in NIKE were worth $8,267,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of NKE. Annapolis Financial Services LLC grew its position in NIKE by 440.0% during the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after acquiring an additional 220 shares during the last quarter. Transcendent Capital Group LLC lifted its position in NIKE by 97.6% during the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after buying an additional 200 shares in the last quarter. VitalStone Financial LLC increased its position in NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 150 shares in the last quarter. Bruce G. Allen Investments LLC raised its stake in shares of NIKE by 272.5% in the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after acquiring an additional 376 shares during the last quarter. Finally, Triad Wealth Partners LLC bought a new stake in shares of NIKE during the second quarter valued at approximately $44,000. 64.25% of the stock is currently owned by institutional investors.

NIKE Trading Down 0.2 %

Shares of NKE stock opened at $78.85 on Friday. The company has a market capitalization of $118.22 billion, a PE ratio of 22.59, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The firm has a 50 day moving average price of $82.71 and a two-hundred day moving average price of $84.94.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. During the same quarter in the previous year, the company earned $0.94 EPS. The business’s revenue was down 10.4% on a year-over-year basis. As a group, analysts predict that NIKE, Inc. will post 2.78 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date was Tuesday, September 3rd. NIKE’s payout ratio is currently 42.41%.

Insider Buying and Selling

In other news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the transaction, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

NKE has been the topic of several research reports. Williams Trading raised NIKE from a “sell” rating to a “buy” rating and upped their price target for the company from $67.00 to $93.00 in a research note on Friday, August 16th. UBS Group raised their price target on NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft cut their target price on NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Piper Sandler reiterated a “neutral” rating and issued a $80.00 target price on shares of NIKE in a report on Friday, September 20th. Finally, Barclays lowered their target price on NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 2nd. Fourteen analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, NIKE has an average rating of “Moderate Buy” and a consensus price target of $96.56.

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.