NIKE, Inc. (NYSE:NKE) Position Cut by Portside Wealth Group LLC

Portside Wealth Group LLC trimmed its stake in NIKE, Inc. (NYSE:NKEFree Report) by 11.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 29,277 shares of the footwear maker’s stock after selling 3,610 shares during the quarter. Portside Wealth Group LLC’s holdings in NIKE were worth $3,179,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in NKE. Oliver Luxxe Assets LLC raised its stake in shares of NIKE by 2.9% during the third quarter. Oliver Luxxe Assets LLC now owns 37,510 shares of the footwear maker’s stock valued at $3,587,000 after purchasing an additional 1,041 shares in the last quarter. Financial Gravity Asset Management Inc. raised its stake in shares of NIKE by 2,332.5% during the third quarter. Financial Gravity Asset Management Inc. now owns 184,042 shares of the footwear maker’s stock valued at $17,598,000 after purchasing an additional 176,476 shares in the last quarter. Daymark Wealth Partners LLC raised its stake in shares of NIKE by 883.4% during the third quarter. Daymark Wealth Partners LLC now owns 109,538 shares of the footwear maker’s stock valued at $10,474,000 after purchasing an additional 98,399 shares in the last quarter. Peoples Financial Services CORP. raised its stake in shares of NIKE by 6.2% during the third quarter. Peoples Financial Services CORP. now owns 13,039 shares of the footwear maker’s stock valued at $1,247,000 after purchasing an additional 760 shares in the last quarter. Finally, Janney Capital Management LLC raised its stake in shares of NIKE by 31.9% during the third quarter. Janney Capital Management LLC now owns 82,382 shares of the footwear maker’s stock valued at $7,877,000 after purchasing an additional 19,947 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Piper Sandler cut their price objective on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a research note on Friday. Robert W. Baird cut their price objective on shares of NIKE from $140.00 to $125.00 and set an “outperform” rating on the stock in a research note on Friday. Wedbush dropped their price target on shares of NIKE from $131.00 to $115.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 19th. Telsey Advisory Group dropped their price target on shares of NIKE from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Monday, March 18th. Finally, Truist Financial reiterated a “hold” rating and issued a $111.00 price target on shares of NIKE in a research report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat.com, NIKE has an average rating of “Moderate Buy” and a consensus target price of $117.11.

View Our Latest Report on NIKE

NIKE Stock Down 0.1 %

NKE opened at $93.77 on Tuesday. NIKE, Inc. has a twelve month low of $88.66 and a twelve month high of $128.68. The firm has a market cap of $142.71 billion, a P/E ratio of 27.58, a price-to-earnings-growth ratio of 1.81 and a beta of 1.10. The business has a 50 day moving average price of $102.06 and a 200 day moving average price of $103.76. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74.

NIKE (NYSE:NKEGet Free Report) last issued its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.29. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The company had revenue of $12.43 billion during the quarter, compared to analyst estimates of $12.28 billion. Research analysts forecast that NIKE, Inc. will post 3.55 EPS for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 4th will be issued a dividend of $0.37 per share. The ex-dividend date is Friday, March 1st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.58%. NIKE’s dividend payout ratio (DPR) is presently 43.53%.

About NIKE

(Free Report)

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.

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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