First Business Financial Services Inc. Sells 1,326 Shares of NIKE, Inc. (NYSE:NKE)

First Business Financial Services Inc. lowered its holdings in shares of NIKE, Inc. (NYSE:NKE) by 26.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,687 shares of the footwear maker’s stock after selling 1,326 shares during the quarter. First Business Financial Services Inc.’s holdings in NIKE were worth $326,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Orion Portfolio Solutions LLC grew its holdings in NIKE by 14.0% during the first quarter. Orion Portfolio Solutions LLC now owns 73,071 shares of the footwear maker’s stock valued at $6,867,000 after purchasing an additional 8,947 shares during the last quarter. Dorsey & Whitney Trust CO LLC grew its stake in NIKE by 24.0% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 11,308 shares of the footwear maker’s stock valued at $1,063,000 after buying an additional 2,187 shares during the last quarter. Great Lakes Retirement Inc. raised its holdings in NIKE by 6.5% in the 1st quarter. Great Lakes Retirement Inc. now owns 10,157 shares of the footwear maker’s stock worth $955,000 after acquiring an additional 621 shares during the period. M&G Plc acquired a new position in NIKE during the 1st quarter worth $10,109,000. Finally, Pinkerton Retirement Specialists LLC boosted its holdings in NIKE by 3.0% during the first quarter. Pinkerton Retirement Specialists LLC now owns 14,886 shares of the footwear maker’s stock valued at $1,399,000 after acquiring an additional 432 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NKE. Piper Sandler reissued a “neutral” rating and set a $80.00 price objective on shares of NIKE in a research report on Friday, September 20th. Royal Bank of Canada reduced their price objective on NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research report on Thursday, November 7th. TD Cowen upped their target price on shares of NIKE from $71.00 to $78.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus dropped their price objective on shares of NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a report on Monday, August 26th. Finally, JPMorgan Chase & Co. decreased 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. Fourteen analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, NIKE has an average rating of “Moderate Buy” and an average target price of $96.48.

NIKE Trading Down 1.1 %

Shares of NYSE NKE opened at $75.67 on Friday. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The firm has a market capitalization of $113.46 billion, a P/E ratio of 21.68, a P/E/G ratio of 1.86 and a beta of 1.03. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The company’s 50 day simple moving average is $81.07 and its 200 day simple moving average is $83.44.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter in the prior year, the company posted $0.94 earnings per share. The firm’s revenue was down 10.4% on a year-over-year basis. On average, analysts predict 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 given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.11%. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio (DPR) is currently 42.41%.

NIKE 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.