NIKE, Inc. (NYSE:NKE) Shares Sold by St. Louis Trust Co

St. Louis Trust Co lessened its position in NIKE, Inc. (NYSE:NKE) by 10.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,610 shares of the footwear maker’s stock after selling 1,557 shares during the quarter. St. Louis Trust Co’s holdings in NIKE were worth $1,203,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NKE. Longview Partners Guernsey LTD purchased a new position in NIKE during the first quarter worth about $533,533,000. Capital World Investors grew its stake in shares of NIKE by 612.2% during the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock worth $487,327,000 after purchasing an additional 4,457,376 shares in the last quarter. PineStone Asset Management Inc. increased its holdings in shares of NIKE by 138.3% in the 2nd quarter. PineStone Asset Management Inc. now owns 2,715,689 shares of the footwear maker’s stock valued at $204,681,000 after acquiring an additional 1,576,049 shares during the last quarter. Renaissance Technologies LLC raised its holdings in NIKE by 351.7% during the second quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock worth $150,101,000 after purchasing an additional 1,550,611 shares in the last quarter. Finally, KBC Group NV raised its stake in NIKE by 145.2% during the 3rd quarter. KBC Group NV now owns 2,111,708 shares of the footwear maker’s stock worth $186,675,000 after acquiring an additional 1,250,380 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Barclays dropped 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 note on Wednesday, October 2nd. Truist Financial upgraded shares of NIKE from a “hold” rating to a “buy” rating and upped their target price for the stock from $83.00 to $97.00 in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft cut their price target on NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. UBS Group upped their target price on NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Finally, Royal Bank of Canada reduced their price objective on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. Fourteen analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, NIKE has a consensus rating of “Moderate Buy” and an average price target of $96.30.

NIKE Trading Down 2.3 %

NKE opened at $74.86 on Tuesday. 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 stock has a market capitalization of $112.24 billion, a P/E ratio of 21.45, a P/E/G ratio of 1.86 and a beta of 1.03. The firm’s fifty day simple moving average is $80.79 and its 200 day simple moving average is $83.03. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. During the same quarter in the prior year, the company posted $0.94 earnings per share. NIKE’s revenue was down 10.4% on a year-over-year basis. As a group, research analysts anticipate that NIKE, Inc. will post 2.74 EPS for the current fiscal year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.14%. NIKE’s payout ratio is 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.