NIKE, Inc. (NYSE:NKE) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC reduced its stake in NIKE, Inc. (NYSE:NKE) by 3.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 346,296 shares of the footwear maker’s stock after selling 11,169 shares during the period. MetLife Investment Management LLC’s holdings in NIKE were worth $30,613,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NKE. CreativeOne Wealth LLC grew its position in shares of NIKE by 13.5% in the 3rd quarter. CreativeOne Wealth LLC now owns 21,978 shares of the footwear maker’s stock valued at $1,943,000 after buying an additional 2,612 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in NIKE by 35.6% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 104,300 shares of the footwear maker’s stock valued at $9,220,000 after acquiring an additional 27,400 shares in the last quarter. Soros Capital Management LLC grew its holdings in shares of NIKE by 3.6% during the third quarter. Soros Capital Management LLC now owns 36,804 shares of the footwear maker’s stock worth $3,253,000 after purchasing an additional 1,264 shares during the last quarter. Cadence Bank grew its holdings in shares of NIKE by 2.8% during the third quarter. Cadence Bank now owns 55,282 shares of the footwear maker’s stock worth $4,887,000 after purchasing an additional 1,520 shares during the last quarter. Finally, Lazard Freres Gestion S.A.S. increased its position in shares of NIKE by 23.2% during the third quarter. Lazard Freres Gestion S.A.S. now owns 747,675 shares of the footwear maker’s stock worth $66,094,000 after purchasing an additional 140,632 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Performance

Shares of NYSE NKE opened at $77.98 on Wednesday. The company has a 50-day simple moving average of $80.44 and a 200-day simple moving average of $82.32. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The company has a market cap of $116.92 billion, a PE ratio of 22.24, a price-to-earnings-growth ratio of 1.92 and a beta of 1.03.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping 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 revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.94 earnings per share. On average, equities analysts anticipate that NIKE, Inc. will post 2.75 earnings per share for the current year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.40 per share. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend is Monday, December 2nd. NIKE’s dividend payout ratio is 42.41%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on NKE shares. Needham & Company LLC assumed coverage on NIKE in a research note on Friday, November 22nd. They set a “buy” rating and a $84.00 price target on the stock. Sanford C. Bernstein lowered their target price on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research report on Thursday, September 19th. Williams Trading upgraded shares of NIKE from a “sell” rating to a “buy” rating and upped their price target for the company from $67.00 to $93.00 in a research report on Friday, August 16th. Piper Sandler reiterated a “neutral” rating and set a $80.00 price target on shares of NIKE in a research note on Friday, September 20th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd. Fourteen research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and an average target price of $95.86.

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.