NIKE, Inc. (NYSE:NKE) Shares Sold by Quest Partners LLC

Quest Partners LLC lessened its stake in NIKE, Inc. (NYSE:NKE) by 83.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,392 shares of the footwear maker’s stock after selling 6,881 shares during the period. Quest Partners LLC’s holdings in NIKE were worth $123,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NKE. PineStone Asset Management Inc. raised its stake in shares of NIKE by 138.3% during the second quarter. PineStone Asset Management Inc. now owns 2,715,689 shares of the footwear maker’s stock worth $204,681,000 after purchasing an additional 1,576,049 shares during the last quarter. Renaissance Technologies LLC increased its stake in NIKE by 351.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock valued at $150,101,000 after buying an additional 1,550,611 shares during the period. KBC Group NV raised its position in NIKE by 145.2% during the 3rd quarter. KBC Group NV now owns 2,111,708 shares of the footwear maker’s stock worth $186,675,000 after buying an additional 1,250,380 shares during the last quarter. Truist Financial Corp lifted its stake in shares of NIKE by 120.1% in the 2nd quarter. Truist Financial Corp now owns 1,430,625 shares of the footwear maker’s stock worth $107,826,000 after acquiring an additional 780,507 shares during the period. Finally, Vontobel Holding Ltd. boosted its holdings in shares of NIKE by 25.5% in the third quarter. Vontobel Holding Ltd. now owns 3,442,216 shares of the footwear maker’s stock valued at $304,292,000 after acquiring an additional 699,642 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on NKE. Needham & Company LLC started coverage on shares of NIKE in a report on Friday, November 22nd. They set a “buy” rating and a $84.00 price target for the company. JPMorgan Chase & Co. reduced their price target on NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. Piper Sandler reaffirmed a “neutral” rating and set a $80.00 price objective on shares of NIKE in a report on Friday, September 20th. Guggenheim cut their price objective 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, Stifel Nicolaus decreased their target price on shares of NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a research report on Monday, August 26th. Fourteen investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $95.86.

NIKE Stock Performance

NYSE:NKE opened at $78.34 on Friday. 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 firm has a market cap of $117.46 billion, a PE ratio of 22.45, a P/E/G ratio of 1.92 and a beta of 1.03. The firm has a 50 day simple moving average of $80.34 and a 200-day simple moving average of $82.27. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39.

NIKE (NYSE:NKE) last issued 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 for the quarter, compared to analyst estimates of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.94 EPS. On average, equities analysts expect that NIKE, Inc. will post 2.75 EPS for the current year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.40 per share. 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 2.04%. 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.