Greenleaf Trust Boosts Stake in NIKE, Inc. (NYSE:NKE)

Greenleaf Trust boosted its position in shares of NIKE, Inc. (NYSE:NKE) by 1.2% during the fourth quarter, Holdings Channel reports. The firm owned 117,528 shares of the footwear maker’s stock after buying an additional 1,355 shares during the quarter. Greenleaf Trust’s holdings in NIKE were worth $12,760,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of NKE. Impact Partnership Wealth LLC boosted its position in NIKE by 220.7% during the third quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock worth $25,000 after purchasing an additional 181 shares in the last quarter. Iron Horse Wealth Management LLC lifted its position in shares of NIKE by 120.7% in the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 140 shares in the last quarter. Planned Solutions Inc. purchased a new stake in shares of NIKE in the fourth quarter valued at $29,000. Financial Freedom LLC purchased a new stake in shares of NIKE in the fourth quarter valued at $29,000. Finally, Worth Asset Management LLC purchased a new stake in shares of NIKE in the first quarter valued at $32,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NKE. Stifel Nicolaus reduced their price objective on NIKE from $129.00 to $117.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Wells Fargo & Company reduced their price objective on NIKE from $125.00 to $120.00 and set an “overweight” rating on the stock in a research report on Friday, March 22nd. TheStreet lowered NIKE from a “b” rating to a “c+” rating in a research note on Tuesday, January 9th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $100.00 target price (down from $110.00) on shares of NIKE in a research note on Friday, March 22nd. Finally, Piper Sandler dropped their target price on NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a research note on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and an average price target of $116.26.

NIKE Stock Down 1.3 %

Shares of NKE stock traded down $1.21 during trading hours on Friday, reaching $94.53. The company had a trading volume of 11,237,608 shares, compared to its average volume of 9,613,316. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. NIKE, Inc. has a twelve month low of $88.66 and a twelve month high of $128.68. The company has a market capitalization of $142.68 billion, a P/E ratio of 28.12, a price-to-earnings-growth ratio of 1.83 and a beta of 1.08. The stock’s fifty day simple moving average is $98.31 and its 200 day simple moving average is $103.37.

NIKE (NYSE:NKE) last posted its 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. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The business had revenue of $12.43 billion during the quarter, compared to analyst estimates of $12.28 billion. As a group, sell-side analysts expect that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend was Friday, March 1st. NIKE’s dividend payout ratio is currently 43.53%.

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.