Dearborn Partners LLC Sells 8,362 Shares of NIKE, Inc. (NYSE:NKE)

Dearborn Partners LLC lowered its stake in shares of NIKE, Inc. (NYSE:NKE) by 46.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,573 shares of the footwear maker’s stock after selling 8,362 shares during the quarter. Dearborn Partners LLC’s holdings in NIKE were worth $846,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Transcendent Capital Group LLC grew its position in shares of NIKE by 97.6% during the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 200 shares during the period. VitalStone Financial LLC lifted its stake in NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 150 shares during the last quarter. Bruce G. Allen Investments LLC grew its holdings in NIKE by 272.5% during the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after purchasing an additional 376 shares during the period. Triad Wealth Partners LLC purchased a new stake in NIKE in the second quarter worth $44,000. Finally, Riverview Trust Co purchased a new position in shares of NIKE during the 3rd quarter valued at $52,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Williams Trading raised NIKE from a “sell” rating to a “buy” rating and lifted their price objective for the stock from $67.00 to $93.00 in a report on Friday, August 16th. Wells Fargo & Company lifted their target price on shares of NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Guggenheim dropped their price target on shares of NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Stifel Nicolaus reduced their price objective on shares of NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research note on Monday, August 26th. Finally, Truist Financial upgraded NIKE from a “hold” rating to a “buy” rating and increased their target price for the stock from $83.00 to $97.00 in a research report on Thursday, October 10th. Fourteen research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, NIKE has an average rating of “Moderate Buy” and an average price target of $96.48.

NIKE Price Performance

Shares of NIKE stock opened at $76.66 on Friday. The firm has a market capitalization of $114.94 billion, a PE ratio of 21.97, a price-to-earnings-growth ratio of 1.86 and a beta of 1.03. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The business’s 50-day moving average price is $80.97 and its 200-day moving average price is $83.39.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The business had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business’s quarterly revenue was down 10.4% on a year-over-year basis. During the same period last year, the business earned $0.94 earnings per share. Sell-side analysts forecast that NIKE, Inc. will post 2.74 EPS for the current fiscal year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a $0.40 dividend. The ex-dividend date is Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.09%. NIKE’s payout ratio is currently 42.41%.

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.