Brooklyn Investment Group Has $350,000 Holdings in NIKE, Inc. (NYSE:NKE)

Brooklyn Investment Group cut its stake in shares of NIKE, Inc. (NYSE:NKE) by 41.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,962 shares of the footwear maker’s stock after selling 2,772 shares during the period. Brooklyn Investment Group’s holdings in NIKE were worth $350,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NKE. ING Groep NV bought a new stake in shares of NIKE in the third quarter valued at about $29,628,000. Cordatus Wealth Management LLC lifted its holdings in shares of NIKE by 19.5% in the third quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker’s stock valued at $3,669,000 after purchasing an additional 6,778 shares in the last quarter. Bristlecone Advisors LLC lifted its holdings in shares of NIKE by 14.3% in the third quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock valued at $8,267,000 after purchasing an additional 11,665 shares in the last quarter. WoodTrust Financial Corp lifted its holdings in shares of NIKE by 19.9% in the third quarter. WoodTrust Financial Corp now owns 98,289 shares of the footwear maker’s stock valued at $8,689,000 after purchasing an additional 16,303 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of NIKE by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,602,534 shares of the footwear maker’s stock valued at $760,716,000 after purchasing an additional 117,187 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NKE has been the topic of a number of research reports. Piper Sandler restated a “neutral” rating and issued a $80.00 price target on shares of NIKE in a report on Friday, September 20th. TD Cowen dropped their target price on NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, November 18th. Evercore ISI dropped their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. Guggenheim dropped their target price on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Finally, Telsey Advisory Group dropped their target price on NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. Fourteen analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $95.86.

NIKE Trading Down 2.1 %

Shares of NYSE:NKE opened at $77.61 on Wednesday. The business’s 50 day simple moving average is $80.44 and its 200 day simple moving average is $82.32. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. 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 has a market capitalization of $116.37 billion, a P/E ratio of 22.24, a P/E/G ratio of 1.92 and a beta of 1.03.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share 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 firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same period in the prior year, the company posted $0.94 EPS. The company’s revenue was down 10.4% compared to the same quarter last year. On average, research analysts anticipate that NIKE, Inc. will post 2.75 EPS for the current fiscal year.

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.06%. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, December 2nd. NIKE’s dividend payout ratio is presently 42.41%.

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.