Adell Harriman & Carpenter Inc. Sells 765 Shares of NIKE, Inc. (NYSE:NKE)

Adell Harriman & Carpenter Inc. cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 18.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,281 shares of the footwear maker’s stock after selling 765 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in NIKE were worth $356,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Newport Trust Company LLC bought a new stake in shares of NIKE in the 3rd quarter valued at about $679,775,000. Flossbach Von Storch AG raised its stake in NIKE by 433.5% in the third quarter. Flossbach Von Storch AG now owns 4,128,587 shares of the footwear maker’s stock valued at $394,775,000 after buying an additional 3,354,677 shares during the period. Van ECK Associates Corp lifted its position in shares of NIKE by 117.0% in the third quarter. Van ECK Associates Corp now owns 2,986,441 shares of the footwear maker’s stock valued at $285,564,000 after buying an additional 1,610,273 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of NIKE by 37.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,791,531 shares of the footwear maker’s stock worth $553,786,000 after acquiring an additional 1,583,541 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new position in shares of NIKE during the 3rd quarter worth approximately $97,724,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on NKE shares. Jefferies Financial Group decreased their price objective on shares of NIKE from $110.00 to $100.00 and set a “hold” rating on the stock in a report on Friday, March 22nd. UBS Group decreased their price target on shares of NIKE from $138.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Bank of America upgraded NIKE from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $110.00 to $113.00 in a report on Thursday, April 11th. Telsey Advisory Group lowered their target price on NIKE from $140.00 to $120.00 and set an “outperform” rating on the stock in a research note on Monday, March 18th. Finally, Piper Sandler decreased their target price on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $116.26.

NIKE Trading Down 1.0 %

Shares of NYSE NKE traded down $0.91 during trading on Tuesday, reaching $93.15. The company had a trading volume of 1,095,545 shares, compared to its average volume of 9,274,899. NIKE, Inc. has a 12 month low of $88.66 and a 12 month high of $128.68. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. The stock has a market cap of $140.60 billion, a P/E ratio of 27.67, a PEG ratio of 1.82 and a beta of 1.09. The company’s fifty day moving average price is $96.78 and its 200-day moving average price is $103.33.

NIKE (NYSE:NKE) last released its 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 business 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%. As a group, research analysts expect that NIKE, Inc. will post 3.73 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Friday, March 1st. NIKE’s dividend payout ratio is 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.