NIKE, Inc. (NYSE:NKE) Shares Sold by Audent Global Asset Management LLC

Audent Global Asset Management LLC lessened its stake in NIKE, Inc. (NYSE:NKE) by 35.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,956 shares of the footwear maker’s stock after selling 7,783 shares during the quarter. NIKE comprises about 2.1% of Audent Global Asset Management LLC’s holdings, making the stock its 19th largest holding. Audent Global Asset Management LLC’s holdings in NIKE were worth $1,234,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Douglas Lane & Associates LLC increased its stake in NIKE by 8.8% during the second quarter. Douglas Lane & Associates LLC now owns 5,141 shares of the footwear maker’s stock worth $387,000 after acquiring an additional 414 shares during the last quarter. Mather Group LLC. increased its stake in NIKE by 101.4% during the second quarter. Mather Group LLC. now owns 25,361 shares of the footwear maker’s stock worth $1,911,000 after acquiring an additional 12,770 shares during the last quarter. Lynx Investment Advisory acquired a new stake in NIKE during the second quarter worth $47,000. Baker Ellis Asset Management LLC increased its stake in NIKE by 17.2% during the second quarter. Baker Ellis Asset Management LLC now owns 15,224 shares of the footwear maker’s stock worth $1,147,000 after acquiring an additional 2,235 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC increased its stake in NIKE by 11.9% during the second quarter. Kingswood Wealth Advisors LLC now owns 16,536 shares of the footwear maker’s stock worth $1,246,000 after acquiring an additional 1,754 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Up 0.5 %

NKE opened at $78.77 on Monday. The business’s 50-day simple moving average is $80.18 and its 200-day simple moving average is $82.03. 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 one year low of $70.75 and a one year high of $123.39. The stock has a market capitalization of $118.10 billion, a P/E ratio of 22.57, a price-to-earnings-growth ratio of 1.91 and a beta of 1.03.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $11.64 billion. During the same quarter in the previous year, the firm earned $0.94 earnings per share. The business’s revenue was down 10.4% compared to the same quarter last year. Analysts anticipate that NIKE, Inc. will post 2.75 EPS for the current year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.03%. This is a boost from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is 42.41%.

Analyst Ratings Changes

Several research firms have issued reports on NKE. Wells Fargo & Company raised their target price on NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Jefferies Financial Group raised their price target on NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Monday, September 30th. Piper Sandler restated a “neutral” rating and set a $80.00 price target on shares of NIKE in a research report on Friday, September 20th. Guggenheim lowered their price target on NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. lowered their price target on NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Fourteen research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, NIKE has an average rating of “Moderate Buy” and a consensus 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.