Truist Financial Corp Decreases Stake in NIKE, Inc. (NYSE:NKE)

Truist Financial Corp lessened its stake in NIKE, Inc. (NYSE:NKE) by 12.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 614,691 shares of the footwear maker’s stock after selling 91,139 shares during the quarter. Truist Financial Corp’s holdings in NIKE were worth $66,737,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. FMR LLC boosted its holdings in NIKE by 0.7% in the third quarter. FMR LLC now owns 18,502,409 shares of the footwear maker’s stock valued at $1,769,200,000 after purchasing an additional 125,746 shares in the last quarter. Northern Trust Corp boosted its holdings in NIKE by 4.5% in the third quarter. Northern Trust Corp now owns 15,557,676 shares of the footwear maker’s stock valued at $1,487,625,000 after purchasing an additional 674,198 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in NIKE by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,200,932 shares of the footwear maker’s stock valued at $766,829,000 after purchasing an additional 89,947 shares in the last quarter. Newport Trust Company LLC acquired a new position in NIKE in the third quarter valued at approximately $679,775,000. Finally, Massachusetts Financial Services Co. MA boosted its holdings in NIKE by 37.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,791,531 shares of the footwear maker’s stock valued at $553,786,000 after purchasing an additional 1,583,541 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

NKE has been the subject of a number of research analyst reports. The Goldman Sachs Group lowered their price target on NIKE from $135.00 to $120.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Bank of America raised NIKE from a “neutral” rating to a “buy” rating and increased their price objective for the company from $110.00 to $113.00 in a report on Thursday, April 11th. TheStreet downgraded NIKE from a “b” rating to a “c+” rating in a report on Tuesday, January 9th. Wedbush reissued an “outperform” rating and issued a $115.00 price objective on shares of NIKE in a report on Wednesday, March 27th. Finally, Sanford C. Bernstein decreased their price objective on NIKE from $134.00 to $120.00 and set an “outperform” rating for the company in a report on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and a consensus price target of $116.26.

NIKE Trading Up 0.2 %

NYSE:NKE opened at $94.12 on Friday. The stock has a fifty day moving average price of $96.96 and a two-hundred day moving average price of $103.34. The stock has a market capitalization of $142.06 billion, a price-to-earnings ratio of 27.68, a PEG ratio of 1.82 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, Inc. has a 1 year low of $88.66 and a 1 year high of $128.68.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.29. The firm 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%. As a group, sell-side analysts anticipate that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend 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.