First Interstate Bank Cuts Stock Holdings in NIKE, Inc. (NYSE:NKE)

First Interstate Bank decreased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 3.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 56,667 shares of the footwear maker’s stock after selling 2,175 shares during the period. First Interstate Bank’s holdings in NIKE were worth $6,152,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Impact Partnership Wealth LLC boosted its holdings in shares of NIKE by 220.7% in the 3rd quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock valued at $25,000 after buying an additional 181 shares in the last quarter. Iron Horse Wealth Management LLC boosted its stake in NIKE by 120.7% in the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 140 shares in the last quarter. Planned Solutions Inc. acquired a new stake in NIKE in the 4th quarter worth approximately $29,000. Financial Freedom LLC acquired a new stake in NIKE in the 4th quarter worth approximately $29,000. Finally, Worth Asset Management LLC purchased a new position in NIKE during the 1st quarter worth approximately $32,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Up 0.3 %

NKE traded up $0.28 on Tuesday, reaching $93.38. The company’s stock had a trading volume of 10,385,549 shares, compared to its average volume of 9,577,090. The stock has a 50 day moving average of $98.83 and a two-hundred day moving average of $103.49. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $140.94 billion, a price-to-earnings ratio of 27.34, a P/E/G ratio of 1.79 and a beta of 1.09. NIKE, Inc. has a fifty-two week low of $88.66 and a fifty-two week high of $128.68.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. The firm had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. As a group, analysts forecast that NIKE, Inc. will post 3.7 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.58%. The ex-dividend date was Friday, March 1st. NIKE’s dividend payout ratio is presently 43.53%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NKE. UBS Group reduced their price target on shares of NIKE from $138.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Piper Sandler cut their price target on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a report on Friday, March 22nd. Jefferies Financial Group lowered their target price on shares of NIKE from $110.00 to $100.00 and set a “hold” rating on the stock in a research note on Friday, March 22nd. TD Cowen reaffirmed a “market perform” rating and set a $104.00 target price (down previously from $129.00) on shares of NIKE in a research note on Friday, December 22nd. Finally, Telsey Advisory Group lowered their target price on shares of NIKE from $140.00 to $120.00 and set an “outperform” rating on the stock in a research note on Monday, March 18th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty 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 $116.26.

About NIKE

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.