Exencial Wealth Advisors LLC cut its stake in NIKE, Inc. (NYSE:NKE – Get Rating) by 24.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 71,003 shares of the footwear maker’s stock after selling 22,985 shares during the quarter. Exencial Wealth Advisors LLC’s holdings in NIKE were worth $11,834,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the company. Bailard Inc. raised its stake in shares of NIKE by 4.1% during the 4th quarter. Bailard Inc. now owns 9,888 shares of the footwear maker’s stock worth $1,648,000 after buying an additional 385 shares during the period. International Assets Investment Management LLC raised its stake in shares of NIKE by 1.1% during the 4th quarter. International Assets Investment Management LLC now owns 8,276 shares of the footwear maker’s stock worth $883,000 after buying an additional 94 shares during the period. Rhumbline Advisers raised its stake in shares of NIKE by 2.2% during the 4th quarter. Rhumbline Advisers now owns 2,092,812 shares of the footwear maker’s stock worth $348,809,000 after buying an additional 44,459 shares during the period. L2 Asset Management LLC acquired a new position in shares of NIKE during the 4th quarter worth approximately $297,000. Finally, Dakota Wealth Management raised its stake in shares of NIKE by 162.8% during the 4th quarter. Dakota Wealth Management now owns 66,045 shares of the footwear maker’s stock worth $11,008,000 after buying an additional 40,912 shares during the period. 65.35% of the stock is owned by institutional investors and hedge funds.
Several brokerages have recently weighed in on NKE. Cowen reduced their target price on NIKE from $192.00 to $144.00 and set an “outperform” rating for the company in a research note on Tuesday, March 8th. UBS Group set a $173.00 price objective on NIKE in a research note on Tuesday, March 22nd. Deutsche Bank Aktiengesellschaft increased their price objective on NIKE from $173.00 to $175.00 in a research note on Tuesday, March 22nd. Stifel Nicolaus reduced their price objective on NIKE from $202.00 to $160.00 in a research note on Thursday, March 17th. Finally, Truist Financial increased their price objective on NIKE from $164.00 to $176.00 in a research note on Tuesday, March 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $171.52.
NIKE (NYSE:NKE – Get Rating) last announced its earnings results on Monday, March 21st. The footwear maker reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.14. NIKE had a return on equity of 43.04% and a net margin of 13.06%. The company had revenue of $10.90 billion during the quarter, compared to analysts’ expectations of $10.61 billion. During the same period last year, the business posted $0.90 EPS. NIKE’s revenue for the quarter was up 4.8% on a year-over-year basis. Equities research analysts anticipate that NIKE, Inc. will post 3.72 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Monday, June 6th will be issued a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Friday, June 3rd. NIKE’s dividend payout ratio (DPR) is 32.19%.
NIKE Profile (Get Rating)
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team, and league logos, as well as sells sports apparel.
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