Archer Investment Corp Sells 171 Shares of NIKE, Inc. (NYSE:NKE)

Archer Investment Corp decreased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,897 shares of the footwear maker’s stock after selling 171 shares during the quarter. Archer Investment Corp’s holdings in NIKE were worth $640,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. BCK Partners Inc. bought a new position in NIKE in the first quarter worth approximately $2,839,000. Loomis Sayles & Co. L P grew its stake in NIKE by 138.2% in the first quarter. Loomis Sayles & Co. L P now owns 11,233 shares of the footwear maker’s stock worth $1,511,000 after purchasing an additional 6,518 shares in the last quarter. Merit Financial Group LLC grew its stake in NIKE by 13.3% in the first quarter. Merit Financial Group LLC now owns 1,588 shares of the footwear maker’s stock worth $214,000 after purchasing an additional 186 shares in the last quarter. Bridgewater Associates LP bought a new position in NIKE in the first quarter worth approximately $278,000. Finally, Federated Hermes Inc. grew its stake in NIKE by 9.8% in the first quarter. Federated Hermes Inc. now owns 433,950 shares of the footwear maker’s stock worth $58,392,000 after purchasing an additional 38,903 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

NKE has been the topic of several research analyst reports. Barclays dropped their price objective on NIKE from $142.00 to $114.00 and set an “overweight” rating on the stock in a research note on Monday, March 25th. Wedbush reiterated an “outperform” rating and set a $115.00 price objective on shares of NIKE in a report on Wednesday, March 27th. Robert W. Baird decreased their price objective on NIKE from $140.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, March 22nd. Truist Financial reiterated a “hold” rating and set a $111.00 price objective on shares of NIKE in a report on Tuesday, March 19th. Finally, JPMorgan Chase & Co. decreased their price objective on NIKE from $139.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, December 22nd. 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 company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $116.26.

NIKE Trading Up 1.1 %

NYSE NKE traded up $1.01 during trading on Wednesday, hitting $94.40. The stock had a trading volume of 7,041,820 shares, compared to its average volume of 9,540,082. The company has a market capitalization of $142.48 billion, a PE ratio of 27.47, a PEG ratio of 1.80 and a beta of 1.08. 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 $98.65 and a 200 day moving average price of $103.48. NIKE, Inc. has a twelve month low of $88.66 and a twelve month high of $128.68.

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

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.57%. The ex-dividend date was Friday, March 1st. NIKE’s dividend payout ratio is currently 43.53%.

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.