KCM Investment Advisors LLC Sells 5,554 Shares of NIKE, Inc. (NYSE:NKE)

KCM Investment Advisors LLC cut its position in shares of NIKE, Inc. (NYSE:NKE) by 3.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 135,660 shares of the footwear maker’s stock after selling 5,554 shares during the period. KCM Investment Advisors LLC’s holdings in NIKE were worth $11,992,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cordatus Wealth Management LLC raised its position in NIKE by 19.5% during the third quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker’s stock valued at $3,669,000 after purchasing an additional 6,778 shares during the period. Bristlecone Advisors LLC raised its position in NIKE by 14.3% during the third quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock valued at $8,267,000 after purchasing an additional 11,665 shares during the period. ING Groep NV purchased a new stake in NIKE during the third quarter valued at approximately $29,628,000. WoodTrust Financial Corp raised its position in NIKE by 19.9% during the third quarter. WoodTrust Financial Corp now owns 98,289 shares of the footwear maker’s stock valued at $8,689,000 after purchasing an additional 16,303 shares during the period. Finally, Farmers & Merchants Investments Inc. raised its position in NIKE by 44.8% during the third quarter. Farmers & Merchants Investments Inc. now owns 194,101 shares of the footwear maker’s stock valued at $17,159,000 after purchasing an additional 60,008 shares during the period. 64.25% of the stock is owned by institutional investors.

NIKE Stock Up 1.5 %

NYSE NKE traded up $1.11 during midday trading on Friday, hitting $76.79. 2,357,250 shares of the company traded hands, compared to its average volume of 11,438,468. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The company has a market cap of $115.14 billion, a PE ratio of 21.88, a price-to-earnings-growth ratio of 1.86 and a beta of 1.03. The company’s 50-day simple moving average is $80.97 and its 200-day simple moving average is $83.39. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The firm had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business’s quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.94 EPS. As a group, equities research analysts forecast that NIKE, Inc. will post 2.74 earnings per share for the current year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a $0.40 dividend. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.08%. NIKE’s dividend payout ratio (DPR) is presently 42.41%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NKE. TD Cowen upped their price objective on NIKE from $71.00 to $78.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Bank of America reduced their price target on NIKE from $104.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Telsey Advisory Group reduced their price target on NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. Stifel Nicolaus reduced their price target on NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a report on Monday, August 26th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $80.00 price target on shares of NIKE in a report on Friday, September 20th. Fourteen research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and a consensus target price of $96.48.

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.