Itau Unibanco Holding S.A. Has $43,000 Position in NIKE, Inc. (NYSE:NKE)

by · The Markets Daily

Itau Unibanco Holding S.A. lowered its stake in NIKE, Inc. (NYSE:NKE – Free Report) by 96.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 485 shares of the footwear maker’s stock after selling 11,901 shares during the period. Itau Unibanco Holding S.A.’s holdings in NIKE were worth $43,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Janus Henderson Group PLC boosted its position in shares of NIKE by 8.4% during the third quarter. Janus Henderson Group PLC now owns 5,617,551 shares of the footwear maker’s stock worth $496,586,000 after purchasing an additional 437,148 shares in the last quarter. Holocene Advisors LP acquired a new position in shares of NIKE during the third quarter worth about $148,635,000. Cinctive Capital Management LP grew its stake in shares of NIKE by 48.2% during the 3rd quarter. Cinctive Capital Management LP now owns 42,578 shares of the footwear maker’s stock worth $3,764,000 after acquiring an additional 13,856 shares in the last quarter. Cladis Investment Advisory LLC boosted its holdings in NIKE by 12.5% during the third quarter. Cladis Investment Advisory LLC now owns 8,927 shares of the footwear maker’s stock worth $789,000 after purchasing an additional 995 shares during the last quarter. Finally, Coastwise Capital Group LLC grew its holdings in shares of NIKE by 21.2% in the 3rd quarter. Coastwise Capital Group LLC now owns 3,299 shares of the footwear maker’s stock valued at $292,000 after acquiring an additional 577 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Truist Financial raised NIKE from a “hold” rating to a “buy” rating and boosted their price target for the stock from $83.00 to $97.00 in a research report on Thursday, October 10th. Needham & Company LLC started coverage on shares of NIKE in a research note on Friday, November 22nd. They issued a “buy” rating and a $84.00 price objective for the company. Royal Bank of Canada cut their target price on NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research report on Thursday, November 7th. Daiwa America lowered shares of NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Finally, Telsey Advisory Group dropped their price objective on NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Fourteen research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $95.71.

Get Our Latest Research Report on NKE

NIKE Stock Down 0.3 %

Shares of NYSE NKE opened at $78.86 on Wednesday. The company’s 50 day moving average price is $79.87 and its 200-day moving average price is $81.84. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The company has a market capitalization of $118.24 billion, a P/E ratio of 22.60, a price-to-earnings-growth ratio of 1.92 and a beta of 1.02.

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 for the quarter, topping analysts’ consensus estimates 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 return on equity of 39.84% and a net margin of 10.60%. The business’s revenue was down 10.4% compared to the same quarter last year. During the same period last year, the business posted $0.94 EPS. Equities analysts forecast that NIKE, Inc. will post 2.75 earnings per share for the current year.

NIKE Increases Dividend

The firm also recently announced 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. 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 yield of 2.03%. The ex-dividend date is Monday, December 2nd. NIKE’s payout ratio is presently 45.85%.

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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