Fiduciary Trust Co Sells 21,249 Shares of NIKE, Inc. (NYSE:NKE)

Fiduciary Trust Co lowered its holdings in shares of NIKE, Inc. (NYSE:NKE) by 15.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 118,744 shares of the footwear maker’s stock after selling 21,249 shares during the quarter. Fiduciary Trust Co’s holdings in NIKE were worth $10,497,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. ING Groep NV purchased a new position in NIKE in the third quarter worth about $29,628,000. Cordatus Wealth Management LLC lifted its stake in shares of NIKE by 19.5% in the 3rd 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 last quarter. Bristlecone Advisors LLC boosted its holdings in shares of NIKE by 14.3% in the 3rd quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock worth $8,267,000 after purchasing an additional 11,665 shares during the period. Lazard Freres Gestion S.A.S. raised its holdings in NIKE by 23.2% during the 3rd quarter. Lazard Freres Gestion S.A.S. now owns 747,675 shares of the footwear maker’s stock valued at $66,094,000 after buying an additional 140,632 shares during the period. Finally, D.A. Davidson & CO. raised its holdings in NIKE by 11.8% during the 3rd quarter. D.A. Davidson & CO. now owns 104,951 shares of the footwear maker’s stock valued at $9,278,000 after buying an additional 11,108 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Barclays cut their price objective on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 2nd. Stifel Nicolaus reduced their price objective 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. UBS Group boosted their target price on NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Daiwa America downgraded NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Finally, Truist Financial raised NIKE from a “hold” rating to a “buy” rating and raised their price target for the stock from $83.00 to $97.00 in a research note on Thursday, October 10th. Fourteen equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $95.86.

NIKE Trading Up 0.9 %

NKE opened at $78.31 on Thursday. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The firm has a market cap of $117.41 billion, a price-to-earnings ratio of 22.44, a PEG ratio of 1.92 and a beta of 1.03. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The stock has a fifty day moving average price of $80.39 and a 200-day moving average price of $82.29.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $11.64 billion. During the same period in the previous year, the company posted $0.94 earnings per share. The firm’s revenue was down 10.4% on a year-over-year basis. As a group, equities research analysts anticipate that NIKE, Inc. will post 2.75 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.04%. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is 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.