Capital Analysts LLC Cuts Stake in NIKE, Inc. (NYSE:NKE)

Capital Analysts LLC reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 4.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,258 shares of the footwear maker’s stock after selling 153 shares during the quarter. Capital Analysts LLC’s holdings in NIKE were worth $354,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Oliver Luxxe Assets LLC raised its stake in NIKE by 2.9% in the 3rd quarter. Oliver Luxxe Assets LLC now owns 37,510 shares of the footwear maker’s stock valued at $3,587,000 after purchasing an additional 1,041 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in shares of NIKE in the fourth quarter valued at approximately $8,034,000. Financial Gravity Asset Management Inc. grew its stake in shares of NIKE by 2,332.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 184,042 shares of the footwear maker’s stock worth $17,598,000 after acquiring an additional 176,476 shares in the last quarter. International Assets Investment Management LLC grew its stake in NIKE by 10,184.3% during the 4th quarter. International Assets Investment Management LLC now owns 388,131 shares of the footwear maker’s stock worth $42,139,000 after purchasing an additional 384,357 shares in the last quarter. Finally, Franklin Street Advisors Inc. NC increased its stake in shares of NIKE by 55.6% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 194,164 shares of the footwear maker’s stock worth $21,080,000 after buying an additional 69,363 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on NKE shares. Piper Sandler lowered their target price on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a report on Friday, March 22nd. Evercore ISI decreased their price objective on shares of NIKE from $127.00 to $117.00 and set an “outperform” rating on the stock in a research report on Friday, March 22nd. Sanford C. Bernstein dropped their price objective on NIKE from $134.00 to $120.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $100.00 price target (down from $110.00) on shares of NIKE in a report on Friday, March 22nd. Finally, The Goldman Sachs Group decreased their target price on shares of NIKE from $135.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $116.26.

NIKE Stock Up 1.6 %

NKE opened at $94.84 on Thursday. The stock has a fifty day moving average of $98.47 and a 200-day moving average of $103.42. NIKE, Inc. has a fifty-two week low of $88.66 and a fifty-two week high of $128.68. The company has a market capitalization of $143.15 billion, a P/E ratio of 27.89, a P/E/G ratio of 1.80 and a beta of 1.08. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74.

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

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date was Friday, March 1st. NIKE’s dividend payout ratio is presently 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.