Ontario Teachers Pension Plan Board Decreases Stock Holdings in NIKE, Inc. (NYSE:NKE)

Ontario Teachers Pension Plan Board lowered its stake in shares of NIKE, Inc. (NYSE:NKE) by 50.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 3,119 shares of the footwear maker’s stock after selling 3,119 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in NIKE were worth $276,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the stock. Legal & General Group Plc grew its holdings in shares of NIKE by 5.5% in the second quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock worth $832,785,000 after acquiring an additional 571,544 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of NIKE by 0.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,025,616 shares of the footwear maker’s stock valued at $454,151,000 after purchasing an additional 52,500 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of NIKE by 15.1% in the 3rd quarter. Van ECK Associates Corp now owns 4,885,672 shares of the footwear maker’s stock worth $431,893,000 after purchasing an additional 641,398 shares during the period. Swiss National Bank boosted its holdings in shares of NIKE by 0.3% in the third quarter. Swiss National Bank now owns 3,595,800 shares of the footwear maker’s stock worth $317,869,000 after buying an additional 9,000 shares during the last quarter. Finally, Vontobel Holding Ltd. boosted its holdings in shares of NIKE by 25.5% in the third quarter. Vontobel Holding Ltd. now owns 3,442,216 shares of the footwear maker’s stock worth $304,292,000 after buying an additional 699,642 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Trading Up 3.1 %

NKE opened at $77.40 on Friday. The stock has a 50-day moving average of $80.51 and a 200 day moving average of $82.67. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The firm has a market cap of $116.05 billion, a P/E ratio of 22.18, a P/E/G ratio of 1.80 and a beta of 1.03.

NIKE (NYSE:NKE) last released its 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 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.94 EPS. As a group, research analysts forecast that NIKE, Inc. will post 2.74 EPS for the current 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 dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.07%. NIKE’s payout ratio is currently 42.41%.

Analysts Set New Price Targets

NKE has been the topic of several recent research reports. TD Cowen decreased their price target on shares of NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research report on Monday, November 18th. JPMorgan Chase & Co. lowered their target price on NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. Truist Financial upgraded NIKE from a “hold” rating to a “buy” rating and upped their price target for the stock from $83.00 to $97.00 in a research report on Thursday, October 10th. Telsey Advisory Group lowered their price objective on NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. Finally, Royal Bank of Canada cut their price objective on 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 equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $95.86.

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.