NIKE, Inc. (NYSE:NKE) Shares Sold by GenTrust LLC

GenTrust LLC lowered its position in NIKE, Inc. (NYSE:NKE) by 16.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,248 shares of the footwear maker’s stock after selling 447 shares during the quarter. GenTrust LLC’s holdings in NIKE were worth $245,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in NKE. BlackRock Inc. increased its position in shares of NIKE by 6.8% in the 2nd quarter. BlackRock Inc. now owns 92,826,102 shares of the footwear maker’s stock worth $10,245,217,000 after purchasing an additional 5,917,963 shares during the last quarter. State Street Corp lifted its stake in shares of NIKE by 2.7% in the 2nd quarter. State Street Corp now owns 55,210,541 shares of the footwear maker’s stock worth $6,111,923,000 after acquiring an additional 1,447,861 shares during the period. Morgan Stanley lifted its stake in shares of NIKE by 26.4% in the 4th quarter. Morgan Stanley now owns 30,720,119 shares of the footwear maker’s stock worth $3,594,561,000 after acquiring an additional 6,410,744 shares during the period. Alliancebernstein L.P. lifted its stake in shares of NIKE by 7.2% in the 2nd quarter. Alliancebernstein L.P. now owns 22,371,886 shares of the footwear maker’s stock worth $2,469,185,000 after acquiring an additional 1,493,704 shares during the period. Finally, FMR LLC lifted its stake in shares of NIKE by 0.7% in the 3rd quarter. FMR LLC now owns 18,502,409 shares of the footwear maker’s stock worth $1,769,200,000 after acquiring an additional 125,746 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Raymond James upped their price target on shares of NIKE from $121.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 19th. Piper Sandler cut their target price on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a research note on Friday, March 22nd. Robert W. Baird cut their target price on shares of NIKE from $140.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Deutsche Bank Aktiengesellschaft cut their target price on shares of NIKE from $132.00 to $128.00 and set a “buy” rating for the company in a research note on Friday, December 22nd. Finally, Citigroup cut their target price on shares of NIKE from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, March 14th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $116.52.

NIKE Price Performance

NYSE NKE opened at $93.98 on Friday. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. The company has a fifty day simple moving average of $101.52 and a 200 day simple moving average of $103.63. The company has a market cap of $143.03 billion, a P/E ratio of 27.64, a P/E/G ratio of 1.76 and a beta of 1.10. NIKE, Inc. has a 1 year low of $88.66 and a 1 year high of $128.68.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. The firm had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. On average, sell-side analysts predict that NIKE, Inc. will post 3.72 EPS for the current year.

NIKE Dividend Announcement

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

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.