NIKE, Inc. (NYSE:NKE) Shares Sold by MAI Capital Management

MAI Capital Management trimmed its stake in NIKE, Inc. (NYSE:NKE) by 14.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 156,969 shares of the footwear maker’s stock after selling 27,084 shares during the quarter. MAI Capital Management’s holdings in NIKE were worth $13,876,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. ING Groep NV acquired a new stake in NIKE during the 3rd quarter worth about $29,628,000. Cordatus Wealth Management LLC increased its position in shares of NIKE by 19.5% in the third quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker’s stock worth $3,669,000 after acquiring an additional 6,778 shares in the last quarter. Bristlecone Advisors LLC raised its holdings in shares of 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 acquiring an additional 11,665 shares during the period. WoodTrust Financial Corp lifted its position in shares of NIKE by 19.9% in the 3rd quarter. WoodTrust Financial Corp now owns 98,289 shares of the footwear maker’s stock valued at $8,689,000 after acquiring an additional 16,303 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. boosted its stake in NIKE by 44.8% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 194,101 shares of the footwear maker’s stock worth $17,159,000 after purchasing an additional 60,008 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on NKE. Jefferies Financial Group increased their target price on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a report on Monday, September 30th. Evercore ISI reduced their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Wells Fargo & Company lifted their target price on NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Truist Financial upgraded NIKE from a “hold” rating to a “buy” rating and upped their target price for the company from $83.00 to $97.00 in a report on Thursday, October 10th. Finally, Bank of America decreased their price target 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. Fourteen research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $96.30.

NIKE Trading Down 2.3 %

Shares of NKE stock opened at $74.86 on Tuesday. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The company has a market cap of $112.24 billion, a PE ratio of 21.45, a price-to-earnings-growth ratio of 1.86 and a beta of 1.03. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The business’s 50 day moving average is $80.79 and its two-hundred day moving average is $83.03.

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 business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. NIKE’s revenue was down 10.4% compared to the same quarter last year. During the same period last year, the business posted $0.94 EPS. Equities analysts predict that NIKE, Inc. will post 2.74 EPS 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 paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.14%. NIKE’s payout ratio is presently 42.41%.

NIKE 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.