Tilt Investment Management Holdings PBC Sells 1,801 Shares of NIKE, Inc. (NYSE:NKE)

Tilt Investment Management Holdings PBC trimmed its holdings in NIKE, Inc. (NYSE:NKE) by 26.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,928 shares of the footwear maker’s stock after selling 1,801 shares during the period. Tilt Investment Management Holdings PBC’s holdings in NIKE were worth $537,000 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 business. Morgan Stanley boosted its position in NIKE by 26.4% during the fourth quarter. Morgan Stanley now owns 30,720,119 shares of the footwear maker’s stock worth $3,594,561,000 after purchasing an additional 6,410,744 shares during the period. Alliancebernstein L.P. raised its holdings in NIKE by 7.2% in the 2nd quarter. Alliancebernstein L.P. now owns 22,371,886 shares of the footwear maker’s stock valued at $2,469,185,000 after acquiring an additional 1,493,704 shares during the period. FMR LLC lifted its position in NIKE by 0.7% during the third quarter. FMR LLC now owns 18,502,409 shares of the footwear maker’s stock worth $1,769,200,000 after acquiring an additional 125,746 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its position in NIKE by 139,649.9% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 16,813,307 shares of the footwear maker’s stock worth $1,967,325,000 after acquiring an additional 16,801,276 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of NIKE by 4.5% during the third quarter. Northern Trust Corp now owns 15,557,676 shares of the footwear maker’s stock worth $1,487,625,000 after acquiring an additional 674,198 shares during the period. 64.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. TD Cowen reissued a “market perform” rating and set a $104.00 price target (down from $129.00) on shares of NIKE in a report on Friday, December 22nd. JPMorgan Chase & Co. dropped their target price on NIKE from $139.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, December 22nd. Robert W. Baird decreased their price target on shares of NIKE from $140.00 to $125.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd. Sanford C. Bernstein dropped their price objective on shares of NIKE from $134.00 to $120.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Finally, TheStreet lowered shares of NIKE from a “b” rating to a “c+” rating in a research report on Tuesday, January 9th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $116.26.

NIKE Price Performance

Shares of NYSE NKE traded up $0.54 during midday trading on Thursday, reaching $95.38. 5,325,574 shares of the company were exchanged, compared to its average volume of 9,526,377. The stock has a market cap of $143.96 billion, a P/E ratio of 27.89, a PEG ratio of 1.80 and a beta of 1.08. NIKE, Inc. has a one year low of $88.66 and a one year high of $128.68. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. The stock’s 50-day moving average price is $98.47 and its 200-day moving average price is $103.42.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. The firm had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. On average, sell-side analysts anticipate that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend was Friday, March 1st. NIKE’s payout ratio is 43.53%.

About NIKE

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.