First County Bank CT Decreases Stock Position in NIKE, Inc. (NYSE:NKE)

by · The Cerbat Gem

First County Bank CT cut its stake in NIKE, Inc. (NYSE:NKE – Free Report) by 19.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,199 shares of the footwear maker’s stock after selling 753 shares during the quarter. First County Bank CT’s holdings in NIKE were worth $283,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Transcendent Capital Group LLC grew its position in shares of NIKE by 97.6% in the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 200 shares in the last quarter. VitalStone Financial LLC grew its position in NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after buying an additional 150 shares in the last quarter. Bruce G. Allen Investments LLC grew its position in NIKE by 272.5% during the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after buying an additional 376 shares in the last quarter. Triad Wealth Partners LLC purchased a new position in NIKE during the second quarter worth about $44,000. Finally, MFA Wealth Advisors LLC purchased a new position in NIKE during the second quarter worth about $46,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Stock Up 3.1 %

Shares of NYSE:NKE opened at $77.40 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 market capitalization of $116.05 billion, a PE ratio of 22.18, a price-to-earnings-growth ratio of 1.82 and a beta of 1.03. The business has a 50 day simple moving average of $80.51 and a two-hundred day simple moving average of $82.67. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39.

NIKE (NYSE:NKE – Get Free Report) last announced its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The firm had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. NIKE’s quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.94 earnings per share. On average, equities analysts predict that NIKE, Inc. will post 2.75 EPS for the current year.

NIKE Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.07%. NIKE’s dividend payout ratio is presently 42.41%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on NKE shares. Bank of America reduced their target price on NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft reduced their target price on NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Daiwa America lowered NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Stifel Nicolaus dropped their price target on NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research note on Monday, August 26th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $80.00 price target on shares of NIKE in a research note on Friday, September 20th. Fourteen analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $95.86.

Get Our Latest Analysis on NKE

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.

Further Reading

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