NIKE, Inc. (NYSE:NKE) Shares Sold by World Investment Advisors LLC

World Investment Advisors LLC reduced its holdings in NIKE, Inc. (NYSE:NKE) by 1.4% during the 3rd quarter, Holdings Channel reports. The fund owned 39,018 shares of the footwear maker’s stock after selling 544 shares during the quarter. World Investment Advisors LLC’s holdings in NIKE were worth $3,449,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Garrison Point Advisors LLC increased its holdings in shares of NIKE by 1.9% during the third quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock valued at $593,000 after purchasing an additional 126 shares during the period. Stephens Consulting LLC increased its stake in NIKE by 20.0% during the 3rd quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock valued at $68,000 after buying an additional 128 shares during the period. PSI Advisors LLC raised its position in shares of NIKE by 26.3% during the 3rd quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock worth $55,000 after buying an additional 130 shares in the last quarter. Chapin Davis Inc. lifted its stake in shares of NIKE by 1.2% in the 3rd quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock worth $1,010,000 after acquiring an additional 133 shares during the period. Finally, Meridian Financial Partners LLC boosted its holdings in shares of NIKE by 1.6% in the third quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock valued at $742,000 after acquiring an additional 133 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Williams Trading upgraded NIKE from a “sell” rating to a “buy” rating and upped their target price for the stock from $67.00 to $93.00 in a research report on Friday, August 16th. Piper Sandler reaffirmed a “neutral” rating and set a $80.00 target price on shares of NIKE in a research note on Friday, September 20th. Needham & Company LLC initiated coverage on shares of NIKE in a research report on Friday, November 22nd. They issued a “buy” rating and a $84.00 price target on the stock. Telsey Advisory Group cut their price target on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. Finally, Stifel Nicolaus lowered their price objective on shares of NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a research note on Monday, August 26th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $94.04.

NIKE Trading Down 0.9 %

NYSE NKE opened at $77.25 on Friday. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The firm’s fifty day simple moving average is $78.52 and its 200-day simple moving average is $81.21. The company has a market capitalization of $115.83 billion, a PE ratio of 22.13, a price-to-earnings-growth ratio of 1.93 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its quarterly earnings results 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. The company had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business’s quarterly revenue was down 10.4% on a year-over-year basis. During the same period last year, the business earned $0.94 EPS. As a group, sell-side analysts anticipate that NIKE, Inc. will post 2.73 earnings per share for the current fiscal year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a $0.40 dividend. The ex-dividend date is Monday, December 2nd. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a yield of 2.07%. NIKE’s payout ratio is 45.85%.

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.