Thrivent Financial for Lutherans Has $5.88 Million Holdings in NIKE, Inc. (NYSE:NKE)

Thrivent Financial for Lutherans grew its position in NIKE, Inc. (NYSE:NKE) by 4.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 66,417 shares of the footwear maker’s stock after purchasing an additional 2,843 shares during the quarter. Thrivent Financial for Lutherans’ holdings in NIKE were worth $5,875,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. PineStone Asset Management Inc. increased its position in NIKE by 138.3% during 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 during the period. Renaissance Technologies LLC increased its position in NIKE by 351.7% during the second quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock worth $150,101,000 after acquiring an additional 1,550,611 shares during the period. KBC Group NV raised its stake in NIKE by 145.2% in the 3rd quarter. KBC Group NV now owns 2,111,708 shares of the footwear maker’s stock worth $186,675,000 after purchasing an additional 1,250,380 shares in the last quarter. Swedbank AB bought a new stake in NIKE in the 1st quarter valued at about $93,357,000. Finally, Truist Financial Corp grew its position in shares of NIKE by 120.1% during the 2nd quarter. Truist Financial Corp now owns 1,430,625 shares of the footwear maker’s stock worth $107,826,000 after purchasing an additional 780,507 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NKE. JPMorgan Chase & Co. dropped their price target on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Evercore ISI dropped their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. UBS Group increased their target price on NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. TD Cowen dropped their price target on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research note on Monday, November 18th. Finally, Needham & Company LLC started coverage on shares of NIKE in a research note on Friday. They set a “buy” rating and a $84.00 price objective on the stock. Fourteen investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and a consensus price target of $95.86.

NIKE Stock Performance

NIKE stock opened at $77.40 on Friday. The business has a 50 day moving average of $80.51 and a 200-day moving average of $82.59. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. The company has a market capitalization of $116.05 billion, a P/E ratio of 22.18, a P/E/G ratio of 1.82 and a beta of 1.03.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter last year, the firm earned $0.94 earnings per share. The company’s revenue for the quarter was down 10.4% on a year-over-year basis. On average, equities research analysts predict that NIKE, Inc. will post 2.75 earnings per share for the current year.

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.40 per share. The ex-dividend date is Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.07%. NIKE’s payout ratio is presently 42.41%.

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.