Avalon Trust Co Cuts Position in NIKE, Inc. (NYSE:NKE)

Avalon Trust Co trimmed its position in shares of NIKE, Inc. (NYSE:NKE) by 7.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,692 shares of the footwear maker’s stock after selling 137 shares during the quarter. Avalon Trust Co’s holdings in NIKE were worth $184,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Newport Trust Company LLC purchased a new position in shares of NIKE during the third quarter worth approximately $679,775,000. Flossbach Von Storch AG boosted its position in NIKE by 433.5% during the third quarter. Flossbach Von Storch AG now owns 4,128,587 shares of the footwear maker’s stock valued at $394,775,000 after buying an additional 3,354,677 shares during the period. Van ECK Associates Corp grew its stake in shares of NIKE by 117.0% during the third quarter. Van ECK Associates Corp now owns 2,986,441 shares of the footwear maker’s stock valued at $285,564,000 after buying an additional 1,610,273 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of NIKE by 37.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,791,531 shares of the footwear maker’s stock worth $553,786,000 after buying an additional 1,583,541 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new position in NIKE during the 3rd quarter worth approximately $97,724,000. Institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on NKE. Williams Trading reiterated a “sell” rating and set a $85.00 price target (down from $92.00) on shares of NIKE in a report on Monday, March 18th. Morgan Stanley reduced their target price on NIKE from $124.00 to $116.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 27th. Truist Financial reissued a “hold” rating and set a $111.00 price objective on shares of NIKE in a research report on Tuesday, March 19th. Jefferies Financial Group lowered their target price on NIKE from $110.00 to $100.00 and set a “hold” rating for the company in a research note on Friday, March 22nd. Finally, The Goldman Sachs Group lowered their price objective on NIKE from $135.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $116.26.

NIKE Price Performance

Shares of NYSE NKE traded down $0.26 during midday trading on Friday, reaching $92.15. The stock had a trading volume of 5,736,711 shares, compared to its average volume of 8,740,078. 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 12-month low of $88.66 and a 12-month high of $127.69. The stock has a 50-day moving average of $95.73 and a 200-day moving average of $103.05. The company has a market capitalization of $139.09 billion, a price-to-earnings ratio of 27.10, a price-to-earnings-growth ratio of 1.78 and a beta of 1.07.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 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 for the quarter, compared to analysts’ expectations of $12.28 billion. As a group, research analysts anticipate that NIKE, Inc. will post 3.73 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a $0.37 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.61%. NIKE’s dividend payout ratio is presently 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.