NIKE, Inc. (NYSE:NKE) Shares Sold by KCM Investment Advisors LLC

KCM Investment Advisors LLC decreased its position in NIKE, Inc. (NYSE:NKE) by 3.9% in the third quarter, HoldingsChannel.com reports. The fund owned 135,660 shares of the footwear maker’s stock after selling 5,554 shares during the period. KCM Investment Advisors LLC’s holdings in NIKE were worth $11,992,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NKE. Longview Partners Guernsey LTD purchased a new position in NIKE in the 1st quarter worth $533,533,000. Capital World Investors raised its stake in NIKE by 612.2% in the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock worth $487,327,000 after acquiring an additional 4,457,376 shares during the last quarter. PineStone Asset Management Inc. raised its stake in NIKE by 138.3% in the 2nd quarter. PineStone Asset Management Inc. now owns 2,715,689 shares of the footwear maker’s stock worth $204,681,000 after acquiring an additional 1,576,049 shares during the last quarter. Renaissance Technologies LLC raised its stake in NIKE by 351.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock worth $150,101,000 after acquiring an additional 1,550,611 shares during the last quarter. Finally, KBC Group NV raised its stake in NIKE by 145.2% in the 3rd quarter. KBC Group NV now owns 2,111,708 shares of the footwear maker’s stock worth $186,675,000 after acquiring an additional 1,250,380 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

NKE has been the subject of a number of research analyst reports. Stifel Nicolaus reduced their target price on NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research note on Monday, August 26th. Guggenheim reduced their price objective on NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Evercore ISI reduced their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Truist Financial upgraded NIKE from a “hold” rating to a “buy” rating and lifted their price objective for the company from $83.00 to $97.00 in a research note on Thursday, October 10th. Finally, Daiwa America lowered NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $96.48.

NIKE Price Performance

NKE stock traded up $1.11 during trading on Friday, hitting $76.79. The stock had a trading volume of 2,357,250 shares, compared to its average volume of 11,438,468. 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 twelve month low of $70.75 and a twelve month high of $123.39. The stock has a market capitalization of $115.14 billion, a P/E ratio of 21.88, a PEG ratio of 1.86 and a beta of 1.03. The company’s 50-day moving average price is $80.97 and its two-hundred day moving average price is $83.39.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 39.84% and a net margin of 10.60%. 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 firm posted $0.94 EPS. As a group, research analysts predict that NIKE, Inc. will post 2.74 EPS for the current fiscal year.

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued 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 2.08%. 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.