NIKE, Inc. (NYSE:NKE) Shares Sold by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec trimmed its stake in shares of NIKE, Inc. (NYSE:NKE) by 28.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 612,913 shares of the footwear maker’s stock after selling 248,490 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in NIKE were worth $54,182,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in NKE. Garrison Point Advisors LLC grew its holdings in NIKE by 1.9% during the 3rd quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock worth $593,000 after acquiring an additional 126 shares during the period. Stephens Consulting LLC grew its holdings in NIKE by 20.0% during the 3rd quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock worth $68,000 after acquiring an additional 128 shares during the period. PSI Advisors LLC grew its holdings in shares of NIKE by 26.3% in the 3rd quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock valued at $55,000 after buying an additional 130 shares during the period. Chapin Davis Inc. grew its holdings in shares of NIKE by 1.2% in the 3rd quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock valued at $1,010,000 after buying an additional 133 shares during the period. Finally, Meridian Financial Partners LLC grew its holdings in shares of NIKE by 1.6% in the 3rd quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock valued at $742,000 after buying an additional 133 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NKE. Jefferies Financial Group boosted their price target on shares of NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a report on Monday, September 30th. Needham & Company LLC began coverage on shares of NIKE in a report on Friday, November 22nd. They issued a “buy” rating and a $84.00 price target for the company. Piper Sandler reissued a “neutral” rating and issued a $80.00 price target on shares of NIKE in a report on Friday, September 20th. Telsey Advisory Group decreased their price target on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada reduced their target price on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research note on Thursday, November 7th. Fourteen research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $95.86.

NIKE Stock Up 0.5 %

NIKE stock opened at $78.77 on Friday. The stock has a market cap of $118.10 billion, a P/E ratio of 22.57, a P/E/G ratio of 1.91 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. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The company’s 50-day moving average price is $80.18 and its two-hundred day moving average price is $82.10.

NIKE (NYSE:NKE) last released its quarterly 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 firm had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business’s revenue was down 10.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.94 EPS. As a group, analysts expect that NIKE, Inc. will post 2.75 EPS for the current year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date is Monday, December 2nd. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio is presently 42.41%.

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.