Swiss National Bank Sells 135,600 Shares of NIKE, Inc. (NYSE:NKE)

Swiss National Bank lowered its stake in shares of NIKE, Inc. (NYSE:NKE) by 3.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,827,500 shares of the footwear maker’s stock after selling 135,600 shares during the period. Swiss National Bank’s holdings in NIKE were worth $415,552,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. increased its position in shares of NIKE by 6.8% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 525,017 shares of the footwear maker’s stock valued at $50,202,000 after acquiring an additional 33,458 shares during the last quarter. Simon Quick Advisors LLC purchased a new stake in NIKE during the third quarter worth about $227,000. Stratos Wealth Partners LTD. raised its position in NIKE by 7.0% in the third quarter. Stratos Wealth Partners LTD. now owns 35,394 shares of the footwear maker’s stock worth $3,384,000 after acquiring an additional 2,330 shares during the period. Stratos Wealth Advisors LLC boosted its stake in NIKE by 18.5% in the third quarter. Stratos Wealth Advisors LLC now owns 12,478 shares of the footwear maker’s stock valued at $1,193,000 after acquiring an additional 1,946 shares during the last quarter. Finally, Stonegate Investment Group LLC grew its position in shares of NIKE by 6.9% during the 3rd quarter. Stonegate Investment Group LLC now owns 12,008 shares of the footwear maker’s stock valued at $1,148,000 after acquiring an additional 778 shares during the period. Institutional investors own 64.25% of the company’s stock.

NIKE Trading Up 1.9 %

Shares of NYSE NKE traded up $1.71 during midday trading on Thursday, hitting $92.05. 3,398,286 shares of the company traded hands, compared to its average volume of 9,273,440. NIKE, Inc. has a 12-month low of $88.66 and a 12-month high of $128.38. The firm has a market cap of $138.94 billion, a P/E ratio of 26.91, a P/E/G ratio of 1.78 and a beta of 1.07. The stock has a 50-day moving average price of $96.25 and a 200 day moving average price of $103.19. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.29. The firm had revenue of $12.43 billion for the quarter, compared to the consensus estimate of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. As a group, analysts expect that NIKE, Inc. will post 3.73 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders 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 dividend yield of 1.61%. The ex-dividend date was Friday, March 1st. NIKE’s dividend payout ratio (DPR) is presently 43.53%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on NKE shares. HSBC lowered their price target on shares of NIKE from $120.00 to $115.00 and set a “hold” rating on the stock in a report on Monday, January 22nd. Barclays dropped their price target on NIKE from $142.00 to $114.00 and set an “overweight” rating on the stock in a research report on Monday, March 25th. Sanford C. Bernstein decreased their price objective on NIKE from $134.00 to $120.00 and set an “outperform” rating for the company in a report on Friday, March 22nd. Royal Bank of Canada restated a “sector perform” rating and issued a $100.00 price objective (down from $110.00) on shares of NIKE in a research note on Friday, March 22nd. Finally, Truist Financial reiterated a “hold” rating and set a $111.00 target price on shares of NIKE in a research report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $116.26.

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.