AMG National Trust Bank Trims Stock Position in NIKE, Inc. (NYSE:NKE)

AMG National Trust Bank decreased its position in NIKE, Inc. (NYSE:NKE) by 27.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,349 shares of the footwear maker’s stock after selling 6,067 shares during the period. AMG National Trust Bank’s holdings in NIKE were worth $1,445,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in NKE. Prudent Man Advisors LLC boosted its stake in NIKE by 42.0% during the third quarter. Prudent Man Advisors LLC now owns 8,594 shares of the footwear maker’s stock worth $760,000 after buying an additional 2,544 shares during the period. TrinityPoint Wealth LLC increased its holdings in NIKE by 9.2% in the 3rd quarter. TrinityPoint Wealth LLC now owns 28,561 shares of the footwear maker’s stock valued at $2,525,000 after purchasing an additional 2,408 shares during the last quarter. Swiss National Bank raised its position in NIKE by 0.3% in the third quarter. Swiss National Bank now owns 3,595,800 shares of the footwear maker’s stock valued at $317,869,000 after purchasing an additional 9,000 shares during the period. S&CO Inc. purchased a new position in shares of NIKE during the third quarter worth $213,000. Finally, Thrivent Financial for Lutherans grew its stake in shares of NIKE by 4.5% in the third quarter. Thrivent Financial for Lutherans now owns 66,417 shares of the footwear maker’s stock valued at $5,875,000 after buying an additional 2,843 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Performance

NYSE:NKE opened at $74.86 on Tuesday. The firm has a market cap of $112.24 billion, a price-to-earnings ratio of 21.45, a price-to-earnings-growth ratio of 1.86 and a beta of 1.03. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The firm’s fifty day moving average price is $80.79 and its 200 day moving average price is $83.03.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.18. The business had revenue of $11.59 billion for 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 business’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.94 earnings per share. On average, sell-side analysts expect that NIKE, Inc. will post 2.74 EPS for the current year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.14%. This is an increase 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 is 42.41%.

Analyst Ratings Changes

NKE has been the topic of several research reports. Williams Trading raised NIKE from a “sell” rating to a “buy” rating and increased their target price for the stock from $67.00 to $93.00 in a research note on Friday, August 16th. 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. Truist Financial upgraded shares of NIKE from a “hold” rating to a “buy” rating and lifted their price objective for the company from $83.00 to $97.00 in a report on Thursday, October 10th. Robert W. Baird raised their price target on shares of NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Finally, JPMorgan Chase & Co. cut their price objective on NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. Fourteen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.30.

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.