Kovack Advisors Inc. Buys Shares of 6,920 NIKE, Inc. (NYSE:NKE)

Kovack Advisors Inc. purchased a new position in NIKE, Inc. (NYSE:NKE) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 6,920 shares of the footwear maker’s stock, valued at approximately $612,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Longview Partners Guernsey LTD purchased a new stake in NIKE during the 1st quarter valued at $533,533,000. Capital World Investors boosted its position in shares of NIKE by 612.2% during the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after buying an additional 4,457,376 shares during the last quarter. PineStone Asset Management Inc. increased its holdings in NIKE by 138.3% in the 2nd quarter. PineStone Asset Management Inc. now owns 2,715,689 shares of the footwear maker’s stock worth $204,681,000 after buying an additional 1,576,049 shares in the last quarter. Renaissance Technologies LLC raised its position in NIKE by 351.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock worth $150,101,000 after buying an additional 1,550,611 shares during the last quarter. Finally, Swedbank AB bought a new position in NIKE during the 1st quarter valued at about $93,357,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on NKE. Telsey Advisory Group decreased their price objective on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. Truist Financial upgraded shares of NIKE from a “hold” rating to a “buy” rating and boosted their target price for the company from $83.00 to $97.00 in a research note on Thursday, October 10th. Sanford C. Bernstein cut their price objective on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a report on Thursday, September 19th. Daiwa America lowered shares of NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Finally, Bank of America dropped their price objective on shares of NIKE from $104.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and a consensus price target of $96.48.

NIKE Stock Down 1.1 %

NKE opened at $75.67 on Friday. The company has a market capitalization of $113.46 billion, a PE ratio of 21.68, a price-to-earnings-growth ratio of 1.86 and a beta of 1.03. The firm has a 50-day simple moving average of $81.07 and a two-hundred day simple moving average of $83.44. 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 52 week low of $70.75 and a 52 week high of $123.39.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The company had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm’s revenue was down 10.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.94 earnings per share. Analysts forecast that NIKE, Inc. will post 2.74 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a dividend of $0.40 per share. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.11%. NIKE’s dividend payout ratio is currently 42.41%.

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.