NIKE, Inc. (NYSE:NKE) Stock Holdings Lowered by Brown Advisory Inc.

Brown Advisory Inc. reduced its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 6.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 124,093 shares of the footwear maker's stock after selling 8,783 shares during the period. Brown Advisory Inc.'s holdings in NIKE were worth $7,877,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of NKE. Norges Bank acquired a new stake in shares of NIKE in the fourth quarter valued at $1,126,288,000. Wellington Management Group LLP grew its holdings in shares of NIKE by 32.4% during the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock worth $2,749,903,000 after purchasing an additional 8,898,591 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of NIKE by 1,302.7% during the fourth quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker's stock worth $196,901,000 after purchasing an additional 2,416,601 shares during the last quarter. Capital World Investors grew its holdings in shares of NIKE by 10.3% during the fourth quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock worth $1,857,389,000 after buying an additional 2,288,627 shares during the last quarter. Finally, Toronto Dominion Bank grew its holdings in shares of NIKE by 183.9% during the fourth quarter. Toronto Dominion Bank now owns 2,996,972 shares of the footwear maker's stock worth $226,779,000 after buying an additional 1,941,375 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NKE has been the topic of a number of research reports. Piper Sandler raised their price target on NIKE from $70.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, June 27th. Berenberg Bank initiated coverage on shares of NIKE in a research report on Tuesday, April 15th. They set a "hold" rating and a $58.00 price target for the company. Williams Trading cut their price objective on NIKE from $93.00 to $73.00 and set a "buy" rating for the company in a research report on Monday, April 21st. BMO Capital Markets dropped their price objective on shares of NIKE from $95.00 to $92.00 and set an "outperform" rating for the company in a research note on Friday, March 21st. Finally, The Goldman Sachs Group raised their target price on shares of NIKE from $72.00 to $81.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $77.15.

NIKE Stock Down 2.6%

Shares of NYSE:NKE traded down $1.96 during midday trading on Friday, reaching $72.66. The company had a trading volume of 12,749,362 shares, compared to its average volume of 15,230,401. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. The stock's fifty day moving average price is $64.06 and its 200-day moving average price is $67.40. The stock has a market capitalization of $107.47 billion, a P/E ratio of 33.64, a PEG ratio of 2.70 and a beta of 1.25. NIKE, Inc. has a one year low of $52.28 and a one year high of $90.62.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. The firm had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The firm's revenue was down 11.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.99 earnings per share. Equities research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.20%. NIKE's dividend payout ratio is currently 74.07%.

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.