RiverPark Advisors LLC Trims Stock Position in NIKE, Inc. (NYSE:NKE)

RiverPark Advisors LLC trimmed its holdings in NIKE, Inc. (NYSE:NKE) by 18.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 17,729 shares of the footwear maker’s stock after selling 3,997 shares during the quarter. NIKE comprises 1.3% of RiverPark Advisors LLC’s investment portfolio, making the stock its 25th largest holding. RiverPark Advisors LLC’s holdings in NIKE were worth $1,567,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in NKE. Longview Partners Guernsey LTD purchased a new stake in shares of NIKE in the first quarter valued at about $533,533,000. Capital World Investors raised its holdings in shares of NIKE by 612.2% in the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after buying an additional 4,457,376 shares during the last quarter. PineStone Asset Management Inc. raised its holdings in shares of NIKE by 138.3% in the second quarter. PineStone Asset Management Inc. now owns 2,715,689 shares of the footwear maker’s stock valued at $204,681,000 after buying an additional 1,576,049 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of NIKE by 351.7% in the second quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock valued at $150,101,000 after buying an additional 1,550,611 shares during the last quarter. Finally, KBC Group NV raised its holdings in shares of NIKE by 145.2% in the third quarter. KBC Group NV now owns 2,111,708 shares of the footwear maker’s stock valued at $186,675,000 after buying an additional 1,250,380 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Jefferies Financial Group upped their target price on shares of NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a report on Monday, September 30th. Barclays dropped their price target on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 2nd. Royal Bank of Canada dropped their price target on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. Telsey Advisory Group dropped their price target on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. Finally, 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. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $96.48.

NIKE Trading Up 1.3 %

Shares of NKE opened at $76.66 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The firm has a 50 day simple moving average of $80.89 and a 200-day simple moving average of $83.20. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The stock has a market cap of $114.94 billion, a price-to-earnings ratio of 21.97, a price-to-earnings-growth ratio of 1.86 and a beta of 1.03.

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

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.09%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio (DPR) is 42.41%.

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.