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Dearborn Partners LLC Decreases Stake in NIKE, Inc. (NYSE:NKE)

NIKE logo with Consumer Discretionary background

Dearborn Partners LLC lessened its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 46.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 9,573 shares of the footwear maker's stock after selling 8,362 shares during the period. Dearborn Partners LLC's holdings in NIKE were worth $846,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Transcendent Capital Group LLC grew its holdings in NIKE by 97.6% in the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker's stock worth $38,000 after purchasing an additional 200 shares during the last quarter. VitalStone Financial LLC increased its position in NIKE by 52.6% during the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker's stock valued at $38,000 after buying an additional 150 shares in the last quarter. Bruce G. Allen Investments LLC boosted its holdings in NIKE by 272.5% in the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker's stock worth $39,000 after acquiring an additional 376 shares in the last quarter. Triad Wealth Partners LLC acquired a new stake in NIKE in the second quarter worth about $44,000. Finally, Riverview Trust Co purchased a new stake in shares of NIKE during the third quarter worth about $52,000. Institutional investors own 64.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on NKE shares. Telsey Advisory Group dropped their target price on shares of NIKE from $100.00 to $96.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 2nd. TD Cowen boosted their price objective on shares of NIKE from $71.00 to $78.00 and gave the company a "hold" rating in a report on Wednesday, October 2nd. Jefferies Financial Group raised their target price on NIKE from $80.00 to $85.00 and gave the stock a "hold" rating in a research note on Monday, September 30th. Daiwa America downgraded NIKE from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, September 11th. Finally, Piper Sandler reissued a "neutral" rating and issued a $80.00 price objective on shares of NIKE in a report on Friday, September 20th. Fourteen research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, NIKE presently has a consensus rating of "Moderate Buy" and a consensus target price of $96.48.

Check Out Our Latest Stock Analysis on NIKE

NIKE Trading Up 1.3 %

NKE traded up $0.98 during mid-day trading on Friday, hitting $76.66. 13,584,939 shares of the stock were exchanged, compared to its average volume of 11,489,007. The firm's fifty day moving average is $80.89 and its two-hundred day moving average is $83.27. 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 1-year low of $70.75 and a 1-year high of $123.39. The company has a market cap of $114.94 billion, a PE ratio of 21.97, a PEG ratio of 1.86 and a beta of 1.03.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly 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 company had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter in the previous year, the firm earned $0.94 earnings per share. The firm's quarterly revenue was down 10.4% on a year-over-year basis. Equities analysts forecast that NIKE, Inc. will post 2.74 earnings per share for the current fiscal year.

NIKE Increases Dividend

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

NIKE Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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