Raymond James & Associates Decreases Position in NIKE, Inc. (NYSE:NKE)

Raymond James & Associates trimmed its holdings in shares of NIKE, Inc. (NYSE:NKE) by 2.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,599,771 shares of the footwear maker’s stock after selling 37,068 shares during the period. Raymond James & Associates owned about 0.11% of NIKE worth $150,346,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Excalibur Management Corp increased its stake in NIKE by 1.9% in the 3rd quarter. Excalibur Management Corp now owns 5,148 shares of the footwear maker’s stock worth $492,000 after purchasing an additional 98 shares during the period. First Pacific Financial boosted its position in NIKE by 1.3% during the 3rd quarter. First Pacific Financial now owns 8,098 shares of the footwear maker’s stock valued at $774,000 after buying an additional 100 shares during the period. Baxter Bros Inc. grew its holdings in NIKE by 2.0% in the 3rd quarter. Baxter Bros Inc. now owns 5,045 shares of the footwear maker’s stock worth $482,000 after acquiring an additional 100 shares during the last quarter. Jeppson Wealth Management LLC increased its position in shares of NIKE by 4.5% in the third quarter. Jeppson Wealth Management LLC now owns 2,315 shares of the footwear maker’s stock valued at $221,000 after acquiring an additional 100 shares during the period. Finally, Cairn Investment Group Inc. raised its stake in shares of NIKE by 4.2% during the third quarter. Cairn Investment Group Inc. now owns 2,500 shares of the footwear maker’s stock valued at $239,000 after acquiring an additional 100 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NKE. Robert W. Baird cut their price objective on NIKE from $140.00 to $125.00 and set an “outperform” rating on the stock 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 on the stock in a report on Friday, March 22nd. Sanford C. Bernstein decreased their price objective on shares of NIKE from $134.00 to $120.00 and set an “outperform” rating for the company in a report on Friday, March 22nd. Stifel Nicolaus dropped their target price on shares of NIKE from $129.00 to $117.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Finally, Bank of America upgraded shares of NIKE from a “neutral” rating to a “buy” rating and boosted their price target for the company from $110.00 to $113.00 in a research report on Thursday, April 11th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $116.26.

NIKE Stock Performance

NIKE stock traded down $0.05 during midday trading on Monday, reaching $94.07. 5,032,553 shares of the company traded hands, compared to its average volume of 9,375,687. NIKE, Inc. has a 12 month low of $88.66 and a 12 month high of $128.68. 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 business has a 50 day moving average of $96.78 and a two-hundred day moving average of $103.33. The firm has a market capitalization of $141.99 billion, a price-to-earnings ratio of 27.67, a price-to-earnings-growth ratio of 1.82 and a beta of 1.09.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. The business had revenue of $12.43 billion during the quarter, compared to analyst estimates of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. As a group, research analysts predict that NIKE, Inc. will post 3.73 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were given a $0.37 dividend. The ex-dividend date was Friday, March 1st. This represents a $1.48 annualized dividend and a yield of 1.57%. NIKE’s 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.