Bank of Montreal Can Lowers Position in NIKE, Inc. (NYSE:NKE)

Bank of Montreal Can lessened its holdings in shares of NIKE, Inc. (NYSE:NKE) by 0.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,555,896 shares of the footwear maker’s stock after selling 2,799 shares during the quarter. Bank of Montreal Can owned about 0.17% of NIKE worth $228,599,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bowie Capital Management LLC lifted its position in NIKE by 13.6% during the third quarter. Bowie Capital Management LLC now owns 406,342 shares of the footwear maker’s stock valued at $35,921,000 after purchasing an additional 48,733 shares during the last quarter. Unison Asset Management LLC purchased a new stake in shares of NIKE during the 3rd quarter valued at $218,000. Truvestments Capital LLC purchased a new stake in shares of NIKE during the 3rd quarter valued at $187,000. Loomis Sayles & Co. L P lifted its holdings in shares of NIKE by 1,209,638.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock worth $575,342,000 after acquiring an additional 6,507,856 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd grew its position in NIKE by 599.1% in the third quarter. Harvest Fund Management Co. Ltd now owns 797 shares of the footwear maker’s stock worth $70,000 after acquiring an additional 683 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

Shares of NKE opened at $79.26 on Tuesday. The company has a 50-day simple moving average of $80.50 and a two-hundred day simple moving average of $82.42. 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 firm has a market capitalization of $118.84 billion, a PE ratio of 22.71, a price-to-earnings-growth ratio of 1.88 and a beta of 1.03. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping 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 business had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. During the same quarter in the prior year, the company earned $0.94 earnings per share. The business’s revenue was down 10.4% compared to the same quarter last year. On average, analysts anticipate that NIKE, Inc. will post 2.75 EPS for the current fiscal year.

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.02%. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, December 2nd. NIKE’s payout ratio is 45.85%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on NKE shares. TD Cowen lowered their price target on NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research report on Monday, November 18th. Robert W. Baird raised their price objective on NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Truist Financial raised 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 note on Thursday, October 10th. UBS Group increased their price target on shares of NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Finally, Sanford C. Bernstein lowered their price objective on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a report on Thursday, September 19th. Fourteen analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $95.86.

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.