Accent Capital Management LLC Sells 6,874 Shares of NIKE, Inc. (NYSE:NKE)

Accent Capital Management LLC trimmed its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 87.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,000 shares of the footwear maker's stock after selling 6,874 shares during the period. Accent Capital Management LLC's holdings in NIKE were worth $89,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ontario Teachers Pension Plan Board bought a new position in shares of NIKE during the 1st quarter worth approximately $868,000. Edgestream Partners L.P. bought a new stake in shares of NIKE in the first quarter valued at about $727,000. Jacobi Capital Management LLC grew its stake in shares of NIKE by 12.6% in the first quarter. Jacobi Capital Management LLC now owns 4,532 shares of the footwear maker's stock valued at $426,000 after acquiring an additional 508 shares in the last quarter. Hillsdale Investment Management Inc. grew its position in NIKE by 403.1% during the first quarter. Hillsdale Investment Management Inc. now owns 9,554 shares of the footwear maker's stock worth $898,000 after buying an additional 7,655 shares in the last quarter. Finally, Beaumont Financial Advisors LLC raised its holdings in NIKE by 2.5% in the 1st quarter. Beaumont Financial Advisors LLC now owns 10,856 shares of the footwear maker's stock valued at $1,020,000 after acquiring an additional 262 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NKE. Evercore ISI reduced their target price on NIKE from $110.00 to $105.00 and set an "outperform" rating on the stock in a report 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 on the stock in a research note on Monday, August 26th. Truist Financial raised shares of NIKE from a "hold" rating to a "buy" rating and raised their target price for the company from $83.00 to $97.00 in a report on Thursday, October 10th. Royal Bank of Canada cut their price target on shares of NIKE from $82.00 to $80.00 and set a "sector perform" rating for the company in a report on Thursday, November 7th. Finally, Bank of America decreased their price objective on shares of NIKE from $104.00 to $100.00 and set a "buy" rating on the stock in a research note on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, NIKE has an average rating of "Moderate Buy" and a consensus price target of $96.48.

NIKE Trading Up 1.3 %

Shares of NYSE:NKE traded up $0.98 during mid-day trading on Friday, hitting $76.66. The company had a trading volume of 13,584,939 shares, compared to its average volume of 9,020,337. The company 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. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The firm has a fifty day moving average price of $80.89 and a 200 day moving average price of $83.20. 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 (NYSE:NKE - Get Free Report) last posted its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.18. The firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business's revenue was down 10.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.94 earnings per share. As a group, research analysts forecast that NIKE, Inc. will post 2.74 EPS for the current year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a $0.40 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.60 annualized dividend 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 is presently 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.