American Trust Reduces Stock Holdings in NIKE, Inc. (NYSE:NKE)

American Trust trimmed its holdings in NIKE, Inc. (NYSE:NKE) by 0.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 45,943 shares of the footwear maker’s stock after selling 133 shares during the quarter. American Trust’s holdings in NIKE were worth $4,061,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NKE. Tidal Investments LLC boosted its stake in shares of NIKE by 65.4% in the third quarter. Tidal Investments LLC now owns 105,571 shares of the footwear maker’s stock worth $9,332,000 after buying an additional 41,752 shares during the last quarter. Soltis Investment Advisors LLC lifted its holdings in NIKE by 12.2% in the third quarter. Soltis Investment Advisors LLC now owns 36,010 shares of the footwear maker’s stock valued at $3,183,000 after acquiring an additional 3,918 shares during the period. Teachers Retirement System of The State of Kentucky boosted its position in NIKE by 8.2% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 265,449 shares of the footwear maker’s stock worth $23,466,000 after purchasing an additional 20,043 shares in the last quarter. Toronto Dominion Bank grew its stake in shares of NIKE by 59.9% during the 3rd quarter. Toronto Dominion Bank now owns 1,055,597 shares of the footwear maker’s stock worth $93,315,000 after purchasing an additional 395,434 shares during the period. Finally, Coldstream Capital Management Inc. increased its holdings in shares of NIKE by 62.3% during the 3rd quarter. Coldstream Capital Management Inc. now owns 121,279 shares of the footwear maker’s stock valued at $10,347,000 after purchasing an additional 46,567 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Stock Down 1.1 %

NKE stock opened at $77.97 on Friday. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The firm has a market cap of $116.91 billion, a PE ratio of 22.34, a PEG ratio of 1.93 and a beta of 1.02. The firm’s 50 day moving average price is $78.62 and its 200-day moving average price is $81.31. 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 earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The company had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.94 earnings per share. On average, equities research analysts anticipate that NIKE, Inc. will post 2.73 EPS for the current year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders 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 yield of 2.05%. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, December 2nd. NIKE’s dividend payout ratio is 45.85%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Piper Sandler restated a “neutral” rating and set a $80.00 price target on shares of NIKE in a research report on Friday, September 20th. UBS Group dropped their target price on NIKE from $82.00 to $80.00 and set a “neutral” rating on the stock in a research report on Monday. JPMorgan Chase & Co. reduced their price target on NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a report on Monday, December 2nd. Robert W. Baird raised their price objective on NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Finally, Bank of America reduced their target price on NIKE from $100.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, December 5th. Fourteen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $94.11.

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.