NIKE, Inc. (NYSE:NKE) Shares Sold by Desjardins Global Asset Management Inc.

Desjardins Global Asset Management Inc. cut its holdings in NIKE, Inc. (NYSE:NKE) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,610 shares of the footwear maker’s stock after selling 151 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in NIKE were worth $826,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Oliver Luxxe Assets LLC grew its position in NIKE by 2.9% in the third quarter. Oliver Luxxe Assets LLC now owns 37,510 shares of the footwear maker’s stock worth $3,587,000 after buying an additional 1,041 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of NIKE during the fourth quarter worth $8,034,000. Financial Gravity Asset Management Inc. raised its position in shares of NIKE by 2,332.5% during the third quarter. Financial Gravity Asset Management Inc. now owns 184,042 shares of the footwear maker’s stock worth $17,598,000 after purchasing an additional 176,476 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of NIKE by 10,184.3% during the fourth quarter. International Assets Investment Management LLC now owns 388,131 shares of the footwear maker’s stock valued at $42,139,000 after purchasing an additional 384,357 shares during the last quarter. Finally, Franklin Street Advisors Inc. NC boosted its position in shares of NIKE by 55.6% in the 4th quarter. Franklin Street Advisors Inc. NC now owns 194,164 shares of the footwear maker’s stock valued at $21,080,000 after purchasing an additional 69,363 shares during the period. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Up 1.6 %

Shares of NYSE:NKE opened at $94.84 on Thursday. The company’s fifty day moving average is $98.47 and its 200-day moving average is $103.42. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. NIKE, Inc. has a 52 week low of $88.66 and a 52 week high of $128.68. The company has a market capitalization of $143.15 billion, a PE ratio of 27.89, a P/E/G ratio of 1.80 and a beta of 1.08.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.29. The firm had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. Equities research analysts predict that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.48 dividend on an annualized basis and a yield of 1.56%. NIKE’s dividend payout ratio (DPR) is presently 43.53%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NKE. Piper Sandler cut their price objective on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday, March 22nd. Wells Fargo & Company cut their target price on NIKE from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday, March 22nd. Truist Financial reiterated a “hold” rating and set a $111.00 price target on shares of NIKE in a research note on Tuesday, March 19th. Citigroup lowered their price objective on NIKE from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, March 14th. Finally, BMO Capital Markets boosted their target price on NIKE from $110.00 to $118.00 and gave the stock an “outperform” rating in a report on Friday, December 22nd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $116.26.

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.