First Western Trust Bank Has $4.05 Million Stock Holdings in NIKE, Inc. (NYSE:NKE)

First Western Trust Bank cut its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 15.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,776 shares of the footwear maker's stock after selling 8,493 shares during the quarter. First Western Trust Bank's holdings in NIKE were worth $4,047,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. ING Groep NV acquired a new position in shares of NIKE in the 3rd quarter valued at about $29,628,000. Cordatus Wealth Management LLC boosted its stake in NIKE by 19.5% in the third quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker's stock valued at $3,669,000 after acquiring an additional 6,778 shares during the period. Bristlecone Advisors LLC grew its holdings in shares of NIKE by 14.3% during the third quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker's stock valued at $8,267,000 after purchasing an additional 11,665 shares during the last quarter. WoodTrust Financial Corp raised its position in shares of NIKE by 19.9% during the 3rd quarter. WoodTrust Financial Corp now owns 98,289 shares of the footwear maker's stock worth $8,689,000 after purchasing an additional 16,303 shares during the period. Finally, Farmers & Merchants Investments Inc. lifted its holdings in shares of NIKE by 44.8% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 194,101 shares of the footwear maker's stock worth $17,159,000 after purchasing an additional 60,008 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. JPMorgan Chase & Co. lowered their price objective on NIKE from $80.00 to $77.00 and set a "neutral" rating for the company in a research note on Wednesday, October 2nd. TD Cowen dropped their price objective on shares of NIKE from $78.00 to $73.00 and set a "hold" rating on the stock in a report on Monday. Robert W. Baird boosted their target price on shares of NIKE from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Friday, September 20th. Bank of America dropped their price target 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. Finally, Truist Financial upgraded NIKE from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $83.00 to $97.00 in a research report on Thursday, October 10th. Fourteen research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $96.30.

NIKE Price Performance

NYSE NKE traded down $1.77 during trading hours on Monday, reaching $74.89. 12,508,659 shares of the company's stock were exchanged, compared to its average volume of 11,493,615. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The stock has a market cap of $112.29 billion, a PE ratio of 21.89, a price-to-earnings-growth ratio of 1.86 and a beta of 1.03. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The firm has a fifty day moving average of $80.89 and a 200-day moving average of $83.15.

NIKE (NYSE:NKE - Get Free Report) last issued its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating the consensus estimate 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 analysts' expectations of $11.64 billion. During the same quarter in the previous year, the company posted $0.94 EPS. The business's revenue for the quarter was down 10.4% compared to the same quarter last year. On average, equities research analysts predict that NIKE, Inc. will post 2.74 earnings per share 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 given a dividend of $0.40 per share. This is a positive change from NIKE's previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Monday, December 2nd. NIKE's payout ratio is presently 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.