Aptus Capital Advisors LLC cut its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 73.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,294 shares of the footwear maker's stock after selling 31,932 shares during the quarter. Aptus Capital Advisors LLC's holdings in NIKE were worth $998,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in NKE. Transcendent Capital Group LLC increased its position in shares of NIKE by 97.6% in the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker's stock valued at $38,000 after acquiring an additional 200 shares during the last quarter. VitalStone Financial LLC boosted its position in shares of NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker's stock valued at $38,000 after acquiring an additional 150 shares during the period. Bruce G. Allen Investments LLC grew its position in shares of NIKE by 272.5% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker's stock worth $39,000 after purchasing an additional 376 shares in the last quarter. Triad Wealth Partners LLC bought a new position in NIKE during the 2nd quarter worth $44,000. Finally, Riverview Trust Co acquired a new stake in shares of NIKE during the 3rd quarter worth $52,000. 64.25% of the stock is owned by institutional investors.
Several research analysts have commented on NKE shares. Stifel Nicolaus lowered their price objective on shares of NIKE from $88.00 to $79.00 and set a "hold" rating for the company in a research report on Monday, August 26th. Robert W. Baird lifted their target price on shares of NIKE from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Friday, September 20th. Sanford C. Bernstein reduced their price target on NIKE from $112.00 to $109.00 and set an "outperform" rating on the stock in a research report on Thursday, September 19th. Piper Sandler reaffirmed a "neutral" rating and issued a $80.00 price objective on shares of NIKE in a research note on Friday, September 20th. Finally, Jefferies Financial Group raised their target price on NIKE from $80.00 to $85.00 and gave the stock a "hold" rating in a research note on Monday, September 30th. Fourteen analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $96.48.
Check Out Our Latest Stock Report on NIKE
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 50-day moving average of $81.07 and a 200 day moving average of $83.44. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The firm has a market cap of $113.46 billion, a P/E ratio of 21.92, a PEG ratio of 1.86 and a beta of 1.03.
NIKE (NYSE:NKE - Get Free Report) 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. The firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company's revenue was down 10.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.94 EPS. On average, research analysts expect that NIKE, Inc. will post 2.74 EPS for the current year.
The company 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. This is a positive change from NIKE's previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.11%. NIKE's payout ratio is presently 42.41%.
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.
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