RiverPark Advisors LLC Decreases Stock Holdings in NIKE, Inc. (NYSE:NKE)

RiverPark Advisors LLC trimmed its holdings in NIKE, Inc. (NYSE:NKE) by 18.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,729 shares of the footwear maker’s stock after selling 3,997 shares during the quarter. NIKE comprises approximately 1.3% of RiverPark Advisors LLC’s portfolio, making the stock its 25th largest holding. RiverPark Advisors LLC’s holdings in NIKE were worth $1,567,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Transcendent Capital Group LLC raised its position in shares of NIKE by 97.6% during the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after buying an additional 200 shares during the period. VitalStone Financial LLC raised its position in shares of NIKE by 52.6% during the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after buying an additional 150 shares during the period. Bruce G. Allen Investments LLC raised its position in shares of NIKE by 272.5% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after buying an additional 376 shares during the period. Triad Wealth Partners LLC purchased a new stake in shares of NIKE during the 2nd quarter valued at approximately $44,000. Finally, MFA Wealth Advisors LLC purchased a new stake in shares of NIKE during the 2nd quarter valued at approximately $46,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NKE has been the topic of several analyst reports. Stifel Nicolaus reduced their price target on shares of NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a research report on Monday, August 26th. Truist Financial upgraded shares of NIKE from a “hold” rating to a “buy” rating and lifted their target price for the company from $83.00 to $97.00 in a report on Thursday, October 10th. Bank of America dropped their target price on shares of NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Morgan Stanley lifted their target price on shares of NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Finally, Daiwa America downgraded shares of NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Fourteen analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.48.

NIKE Price Performance

NIKE stock opened at $76.66 on Friday. The stock has a market cap of $114.94 billion, a P/E ratio of 21.97, a price-to-earnings-growth ratio of 1.86 and a beta of 1.03. The company has a fifty day simple moving average of $80.89 and a 200-day simple moving average of $83.20. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57.

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

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a $0.40 dividend. The ex-dividend date of this dividend is Monday, December 2nd. 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 yield of 2.09%. NIKE’s payout ratio is 42.41%.

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.