Mutual of America Capital Management LLC Trims Stake in NIKE, Inc. (NYSE:NKE)

Mutual of America Capital Management LLC decreased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 3.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 148,027 shares of the footwear maker’s stock after selling 4,857 shares during the quarter. Mutual of America Capital Management LLC’s holdings in NIKE were worth $13,086,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of NKE. Legal & General Group Plc boosted its stake in shares of NIKE by 5.5% during the second quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock valued at $832,785,000 after purchasing an additional 571,544 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of NIKE by 0.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 6,025,616 shares of the footwear maker’s stock worth $454,151,000 after acquiring an additional 52,500 shares during the period. Longview Partners Guernsey LTD bought a new stake in shares of NIKE during the first quarter valued at approximately $533,533,000. Capital World Investors boosted its holdings in shares of NIKE by 612.2% in the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after purchasing an additional 4,457,376 shares during the period. Finally, Van ECK Associates Corp grew its stake in NIKE by 15.1% in the third quarter. Van ECK Associates Corp now owns 4,885,672 shares of the footwear maker’s stock worth $431,893,000 after purchasing an additional 641,398 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Stock Performance

NKE opened at $76.66 on Monday. The firm has a 50 day moving average of $80.89 and a two-hundred day moving average of $83.15. The firm has a market capitalization of $114.94 billion, a PE ratio of 21.97, a P/E/G ratio of 1.86 and a beta of 1.03. 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, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39.

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

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.09%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is 42.41%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Wells Fargo & Company upped their target price on NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Bank of America lowered their price objective on shares of NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. TD Cowen raised their target price on shares of NIKE from $71.00 to $78.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Truist Financial raised shares of NIKE from a “hold” rating to a “buy” rating and upped their price target for the stock from $83.00 to $97.00 in a research report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Fourteen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.48.

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.