Harbour Investments Inc. Has $508,000 Stake in NIKE, Inc. (NYSE:NKE)

Harbour Investments Inc. increased its position in shares of NIKE, Inc. (NYSE:NKE) by 6.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,749 shares of the footwear maker’s stock after purchasing an additional 357 shares during the period. Harbour Investments Inc.’s holdings in NIKE were worth $508,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Garrison Point Advisors LLC increased its position in shares of NIKE by 1.9% in the third quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock worth $593,000 after purchasing an additional 126 shares during the last quarter. Stephens Consulting LLC increased its holdings in shares of NIKE by 20.0% in the 3rd quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock worth $68,000 after buying an additional 128 shares during the last quarter. PSI Advisors LLC raised its position in shares of NIKE by 26.3% during the 3rd quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock valued at $55,000 after buying an additional 130 shares in the last quarter. Pitcairn Co. lifted its holdings in shares of NIKE by 0.5% during the 1st quarter. Pitcairn Co. now owns 29,067 shares of the footwear maker’s stock worth $2,732,000 after acquiring an additional 132 shares during the last quarter. Finally, Chapin Davis Inc. increased its stake in NIKE by 1.2% in the third quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock valued at $1,010,000 after acquiring an additional 133 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. TD Cowen raised their price objective on NIKE from $71.00 to $78.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Barclays dropped their target price on NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a report on Wednesday, October 2nd. Daiwa America cut NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Sanford C. Bernstein dropped their price objective on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research note on Thursday, September 19th. Finally, Truist Financial raised shares of NIKE from a “hold” rating to a “buy” rating and lifted their target price for the stock from $83.00 to $97.00 in a research note on Thursday, October 10th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $96.48.

NIKE Stock Performance

NIKE stock opened at $76.66 on Friday. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $114.94 billion, a P/E ratio of 21.97, a PEG ratio of 1.86 and a beta of 1.03. The stock’s 50 day moving average is $80.89 and its 200 day moving average is $83.27.

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

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.40 per share. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is currently 45.85%.

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.