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

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

Several other institutional investors also recently modified their holdings of NKE. Elgethun Capital Management raised its holdings in shares of NIKE by 13.7% in the 4th quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker's stock valued at $94,000 after buying an additional 149 shares during the period. AlTi Global Inc. raised its holdings in shares of NIKE by 0.4% in the 4th quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker's stock valued at $2,813,000 after buying an additional 150 shares during the period. Staley Capital Advisers Inc. boosted its stake in shares of NIKE by 4.4% in the fourth quarter. Staley Capital Advisers Inc. now owns 3,773 shares of the footwear maker's stock valued at $286,000 after purchasing an additional 160 shares during the period. Cohen & Steers Inc. boosted its stake in shares of NIKE by 5.3% in the fourth quarter. Cohen & Steers Inc. now owns 3,171 shares of the footwear maker's stock valued at $240,000 after purchasing an additional 160 shares during the period. Finally, Banco de Sabadell S.A boosted its stake in shares of NIKE by 1.2% in the fourth quarter. Banco de Sabadell S.A now owns 15,966 shares of the footwear maker's stock valued at $1,208,000 after purchasing an additional 188 shares during the period. 64.25% of the stock is owned by institutional investors.

NIKE Stock Performance

Shares of NIKE stock traded up $1.88 during trading hours on Thursday, hitting $75.44. 6,692,018 shares of the company were exchanged, compared to its average volume of 15,242,729. 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. The business has a 50-day moving average of $63.42 and a 200-day moving average of $67.44. The stock has a market capitalization of $111.58 billion, a price-to-earnings ratio of 34.92, a P/E/G ratio of 2.68 and a beta of 1.25.

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

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend was Monday, June 2nd. NIKE's dividend payout ratio (DPR) is 74.07%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on NKE shares. UBS Group started coverage on shares of NIKE in a research note on Sunday. They issued a "buy" rating for the company. Barclays upped their price objective on NIKE from $53.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Friday, June 27th. Citigroup upped their price objective on NIKE from $57.00 to $68.00 and gave the stock a "neutral" rating in a research report on Friday, June 27th. China Renaissance assumed coverage on NIKE in a research note on Wednesday, March 19th. They issued a "hold" rating for the company. Finally, Truist Financial decreased their price objective on NIKE from $82.00 to $73.00 and set a "buy" rating for the company in a research note on Tuesday, June 24th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, NIKE has an average rating of "Moderate Buy" and a consensus target price of $77.15.

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.