NIKE, Inc. (NYSE:NKE) Shares Sold by Douglass Winthrop Advisors LLC

Douglass Winthrop Advisors LLC trimmed its position in shares of NIKE, Inc. (NYSE:NKE) by 6.6% in the third quarter, Holdings Channel.com reports. The firm owned 58,970 shares of the footwear maker’s stock after selling 4,170 shares during the period. Douglass Winthrop Advisors LLC’s holdings in NIKE were worth $5,213,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. VitalStone Financial LLC grew its stake in shares of NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 150 shares in the last quarter. Bruce G. Allen Investments LLC grew its stake in NIKE by 272.5% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after purchasing an additional 376 shares in the last quarter. Triad Wealth Partners LLC acquired a new stake in NIKE during the 2nd quarter valued at approximately $44,000. MFA Wealth Advisors LLC purchased a new stake in NIKE during the 2nd quarter worth approximately $46,000. Finally, Lynx Investment Advisory acquired a new position in shares of NIKE in the 2nd quarter valued at approximately $47,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Trading Up 3.1 %

NYSE:NKE opened at $77.40 on Monday. The stock has a market cap of $116.05 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 1.88 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, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. The business has a fifty day moving average of $80.51 and a 200-day moving average of $82.52.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) 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 firm had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. During the same quarter in the prior year, the firm posted $0.94 EPS. NIKE’s revenue was down 10.4% compared to the same quarter last year. Equities analysts predict that NIKE, Inc. will post 2.75 earnings per share for the current year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a dividend of $0.40 per share. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, December 2nd. This represents a $1.60 annualized dividend and a yield of 2.07%. NIKE’s payout ratio is presently 42.41%.

Analysts Set New Price Targets

A number of analysts recently issued reports on NKE shares. Piper Sandler restated a “neutral” rating and issued a $80.00 price target on shares of NIKE in a research note on Friday, September 20th. Morgan Stanley boosted their target price on shares of NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. UBS Group increased their price target on shares of NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Daiwa America lowered NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Finally, Wells Fargo & Company increased their target price on NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Fourteen equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and a consensus target price 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.