Charles Schwab Investment Management Inc. Cuts Stock Position in NIKE, Inc. (NYSE:NKE)

Charles Schwab Investment Management Inc. lessened its holdings in NIKE, Inc. (NYSE:NKE) by 1.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 8,088,823 shares of the footwear maker’s stock after selling 112,109 shares during the period. Charles Schwab Investment Management Inc. owned 0.53% of NIKE worth $859,436,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Iron Horse Wealth Management LLC increased 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 buying an additional 140 shares in the last quarter. Planned Solutions Inc. purchased a new position in shares of NIKE during the fourth quarter valued at about $29,000. Raleigh Capital Management Inc. grew its position in shares of NIKE by 134.2% during the third quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock valued at $36,000 after purchasing an additional 216 shares in the last quarter. OFI Invest Asset Management purchased a new position in shares of NIKE during the third quarter valued at about $37,000. Finally, Mizuho Securities Co. Ltd. grew its position in shares of NIKE by 100.0% during the fourth quarter. Mizuho Securities Co. Ltd. now owns 340 shares of the footwear maker’s stock valued at $37,000 after purchasing an additional 170 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

NKE has been the subject of a number of research analyst reports. Telsey Advisory Group cut their price objective on NIKE from $140.00 to $120.00 and set an “outperform” rating for the company in a research report on Monday, March 18th. HSBC cut their price objective on NIKE from $120.00 to $115.00 and set a “hold” rating for the company in a research report on Monday, January 22nd. Williams Trading reaffirmed a “sell” rating and issued a $85.00 price target (down previously from $92.00) on shares of NIKE in a report on Monday, March 18th. Piper Sandler lowered 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. Finally, Citigroup lowered their price target on shares of NIKE from $135.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, March 14th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and a consensus target price of $116.26.

NIKE Stock Down 0.5 %

NKE stock traded down $0.49 during trading on Wednesday, hitting $93.29. 1,838,252 shares of the company’s stock traded hands, compared to its average volume of 9,143,869. The firm has a market capitalization of $140.81 billion, a P/E ratio of 27.48, a PEG ratio of 1.78 and a beta of 1.07. The business has a fifty day simple moving average of $95.28 and a two-hundred day simple moving average of $102.91. 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, Inc. has a 1 year low of $88.66 and a 1 year high of $126.46.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.29. The company had revenue of $12.43 billion for 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%. Sell-side analysts anticipate that NIKE, Inc. will post 3.73 EPS for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Monday, June 3rd. 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.