Brown Shipley& Co Ltd Sells 3,634 Shares of NIKE, Inc. (NYSE:NKE)

Brown Shipley& Co Ltd reduced its stake in NIKE, Inc. (NYSE:NKE) by 5.9% during the third quarter, Holdings Channel.com reports. The firm owned 58,179 shares of the footwear maker’s stock after selling 3,634 shares during the quarter. NIKE accounts for approximately 2.5% of Brown Shipley& Co Ltd’s holdings, making the stock its 14th largest position. Brown Shipley& Co Ltd’s holdings in NIKE were worth $5,143,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of NKE. ING Groep NV purchased a new stake in NIKE in the third quarter worth about $29,628,000. Cordatus Wealth Management LLC increased its holdings in NIKE by 19.5% in the 3rd 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 increased its holdings in 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 acquiring an additional 11,665 shares in the last quarter. Lazard Freres Gestion S.A.S. raised its stake 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 worth $66,094,000 after acquiring an additional 140,632 shares during the period. Finally, D.A. Davidson & CO. lifted its holdings in NIKE by 11.8% during the third quarter. D.A. Davidson & CO. now owns 104,951 shares of the footwear maker’s stock valued at $9,278,000 after purchasing an additional 11,108 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Piper Sandler restated a “neutral” rating and set a $80.00 price objective on shares of NIKE in a research report on Friday, September 20th. Williams Trading raised NIKE from a “sell” rating to a “buy” rating and raised their price target for the company from $67.00 to $93.00 in a report on Friday, August 16th. Needham & Company LLC assumed coverage on NIKE in a research note on Friday, November 22nd. They issued a “buy” rating and a $84.00 price objective for the company. Robert W. Baird increased their target price on NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Finally, Stifel Nicolaus lowered their price target on NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a report on Monday, August 26th. Fourteen investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $95.86.

NIKE Stock Performance

NYSE NKE opened at $78.31 on Thursday. The business’s 50 day moving average price is $80.39 and its 200-day moving average price is $82.29. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The company has a market cap of $117.41 billion, a P/E ratio of 22.44, a P/E/G ratio of 1.92 and a beta of 1.03. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $11.64 billion. During the same quarter in the previous year, the business posted $0.94 earnings per share. The business’s revenue was down 10.4% compared to the same quarter last year. Sell-side analysts predict that NIKE, Inc. will post 2.75 earnings per share for the current year.

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a $0.40 dividend. 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 yield of 2.04%. The ex-dividend date of this dividend is Monday, December 2nd. NIKE’s dividend payout ratio 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.