Greenleaf Trust Boosts Stake in NIKE, Inc. (NYSE:NKE)

Greenleaf Trust increased its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 11.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 129,508 shares of the footwear maker's stock after acquiring an additional 13,486 shares during the quarter. Greenleaf Trust's holdings in NIKE were worth $8,221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Elgethun Capital Management lifted its holdings in NIKE by 13.7% in the 4th quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker's stock worth $94,000 after buying an additional 149 shares during the period. AlTi Global Inc. lifted its holdings in NIKE by 0.4% in the 4th quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker's stock worth $2,813,000 after buying an additional 150 shares during the period. Staley Capital Advisers Inc. lifted its holdings in NIKE by 4.4% in the 4th quarter. Staley Capital Advisers Inc. now owns 3,773 shares of the footwear maker's stock worth $286,000 after buying an additional 160 shares during the period. Cohen & Steers Inc. lifted its holdings in NIKE by 5.3% in the 4th quarter. Cohen & Steers Inc. now owns 3,171 shares of the footwear maker's stock worth $240,000 after buying an additional 160 shares during the period. Finally, Banco de Sabadell S.A lifted its holdings in NIKE by 1.2% in the 4th quarter. Banco de Sabadell S.A now owns 15,966 shares of the footwear maker's stock worth $1,208,000 after buying an additional 188 shares during the period. 64.25% of the stock is currently owned by institutional investors.

NIKE Stock Down 2.6%

NYSE:NKE traded down $1.96 during trading hours on Friday, reaching $72.66. 12,749,362 shares of the company traded hands, compared to its average volume of 15,235,433. The business's 50-day moving average price is $64.06 and its two-hundred day moving average price is $67.33. The stock has a market capitalization of $107.47 billion, a P/E ratio of 33.64, a P/E/G ratio of 2.63 and a beta of 1.25. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $90.62. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60.

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

NIKE Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. HSBC upgraded NIKE from a "hold" rating to a "buy" rating and set a $80.00 price objective for the company in a report on Friday, June 27th. Truist Financial dropped their price objective on NIKE from $82.00 to $73.00 and set a "buy" rating for the company in a report on Tuesday, June 24th. Bank of America increased their price objective on NIKE from $80.00 to $84.00 and gave the stock a "buy" rating in a report on Friday, June 27th. DZ Bank lowered NIKE from a "buy" rating to a "hold" rating and set a $76.00 price target on the stock. in a research report on Thursday. Finally, Berenberg Bank initiated coverage on NIKE in a research report on Tuesday, April 15th. They set a "hold" rating and a $58.00 price target on the stock. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, NIKE has a consensus rating of "Moderate Buy" and a consensus price target of $77.15.

NIKE 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.