Vestmark Advisory Solutions Inc. Increases Stock Position in NIKE, Inc. (NYSE:NKE)

Vestmark Advisory Solutions Inc. raised its holdings in NIKE, Inc. (NYSE:NKE) by 7.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,433 shares of the footwear maker’s stock after purchasing an additional 952 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in NIKE were worth $1,458,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. FMR LLC lifted its stake in shares of NIKE by 0.7% during the third quarter. FMR LLC now owns 18,502,409 shares of the footwear maker’s stock valued at $1,769,200,000 after buying an additional 125,746 shares during the period. Northern Trust Corp increased its position in NIKE by 4.5% during the third quarter. Northern Trust Corp now owns 15,557,676 shares of the footwear maker’s stock worth $1,487,625,000 after purchasing an additional 674,198 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of NIKE by 2.3% in the 4th quarter. Fisher Asset Management LLC now owns 9,887,769 shares of the footwear maker’s stock valued at $1,073,515,000 after purchasing an additional 219,091 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of NIKE by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,200,932 shares of the footwear maker’s stock valued at $766,829,000 after purchasing an additional 89,947 shares during the last quarter. Finally, Newport Trust Company LLC acquired a new position in shares of NIKE in the 3rd quarter valued at $679,775,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

NKE has been the topic of several recent research reports. Wells Fargo & Company reduced their target price on shares of NIKE from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday, March 22nd. Robert W. Baird dropped their price target on shares of NIKE from $140.00 to $125.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd. TheStreet downgraded shares of NIKE from a “b” rating to a “c+” rating in a research report on Tuesday, January 9th. Royal Bank of Canada reissued a “sector perform” rating and issued a $100.00 target price (down previously from $110.00) on shares of NIKE in a research report on Friday, March 22nd. Finally, Piper Sandler dropped their target price on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a research report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $116.26.

NIKE Stock Up 0.8 %

NIKE stock traded up $0.74 during trading hours on Monday, hitting $92.89. The company had a trading volume of 703,306 shares, compared to its average volume of 9,181,373. The firm has a market capitalization of $140.20 billion, a P/E ratio of 27.10, a price-to-earnings-growth ratio of 1.78 and a beta of 1.07. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. The firm’s fifty day moving average is $95.73 and its 200-day moving average is $103.04. NIKE, Inc. has a fifty-two week low of $88.66 and a fifty-two week high of $127.69.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, topping the consensus estimate of $0.69 by $0.29. The company had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. On average, research analysts forecast that NIKE, Inc. will post 3.73 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Monday, June 3rd. NIKE’s dividend payout ratio is 43.53%.

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.