Altfest L J & Co. Inc. Sells 1,067 Shares of NIKE, Inc. (NYSE:NKE)

Altfest L J & Co. Inc. trimmed its stake in shares of NIKE, Inc. (NYSE:NKE) by 16.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,427 shares of the footwear maker’s stock after selling 1,067 shares during the quarter. Altfest L J & Co. Inc.’s holdings in NIKE were worth $589,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of NKE. State Street Corp lifted its position in shares of NIKE by 2.7% during the 2nd quarter. State Street Corp now owns 55,210,541 shares of the footwear maker’s stock worth $6,111,923,000 after buying an additional 1,447,861 shares in the last quarter. Morgan Stanley boosted its position in NIKE by 26.4% in the fourth quarter. Morgan Stanley now owns 30,720,119 shares of the footwear maker’s stock worth $3,594,561,000 after purchasing an additional 6,410,744 shares during the last quarter. Alliancebernstein L.P. grew its stake in NIKE by 7.2% in the 2nd quarter. Alliancebernstein L.P. now owns 22,371,886 shares of the footwear maker’s stock valued at $2,469,185,000 after purchasing an additional 1,493,704 shares during the period. FMR LLC increased its position in shares of NIKE by 0.7% during the 3rd quarter. FMR LLC now owns 18,502,409 shares of the footwear maker’s stock valued at $1,769,200,000 after purchasing an additional 125,746 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC raised its stake in shares of NIKE by 139,649.9% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 16,813,307 shares of the footwear maker’s stock worth $1,967,325,000 after purchasing an additional 16,801,276 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NKE. Evercore ISI reduced their price target on shares of NIKE from $127.00 to $117.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd. Jefferies Financial Group decreased their price target on shares of NIKE from $110.00 to $100.00 and set a “hold” rating for the company in a research note on Friday, March 22nd. JPMorgan Chase & Co. reduced their price objective on NIKE from $139.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, December 22nd. Deutsche Bank Aktiengesellschaft cut their price target on NIKE from $132.00 to $128.00 and set a “buy” rating for the company in a research note on Friday, December 22nd. Finally, Piper Sandler reduced their target price on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a research note on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $116.75.

NIKE Trading Down 0.7 %

Shares of NKE traded down $0.68 during trading hours on Thursday, hitting $93.45. The company had a trading volume of 6,342,304 shares, compared to its average volume of 9,340,381. The firm has a market cap of $142.22 billion, a P/E ratio of 27.76, a P/E/G ratio of 1.74 and a beta of 1.10. NIKE, Inc. has a 52-week low of $88.66 and a 52-week high of $128.68. The stock’s 50 day moving average price is $101.65 and its 200 day moving average price is $103.69. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.29. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The firm had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.28 billion. On average, research analysts predict that NIKE, Inc. will post 3.7 EPS for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Monday, March 4th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend is Friday, March 1st. NIKE’s payout ratio is 43.53%.

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.