Private Trust Co. NA Boosts Position in NIKE, Inc. (NYSE:NKE)

Private Trust Co. NA increased its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 44.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,000 shares of the footwear maker's stock after purchasing an additional 4,618 shares during the quarter. Private Trust Co. NA's holdings in NIKE were worth $952,000 at the end of the most recent reporting period.

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

NIKE Price Performance

NKE stock opened at $76.28 on Friday. The business has a 50 day moving average price of $62.36 and a 200 day moving average price of $67.49. The stock has a market cap of $112.83 billion, a price-to-earnings ratio of 35.31, a PEG ratio of 2.77 and a beta of 1.25. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $90.62. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. NIKE had a return on equity of 23.33% and a net margin of 6.95%. The company 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 firm's revenue for the quarter was down 11.9% on a year-over-year basis. Equities research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend was Monday, June 2nd. NIKE's dividend payout ratio is currently 74.07%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on NKE shares. China Renaissance started coverage on NIKE in a research report on Wednesday, March 19th. They set a "hold" rating for the company. Citigroup lifted their target price on NIKE from $57.00 to $68.00 and gave the company a "neutral" rating in a research report on Friday, June 27th. Truist Financial dropped their target price on NIKE from $82.00 to $73.00 and set a "buy" rating for the company in a research report on Tuesday, June 24th. Bank of America lifted their target price on NIKE from $80.00 to $84.00 and gave the company a "buy" rating in a research report on Friday, June 27th. Finally, The Goldman Sachs Group lifted their target price on NIKE from $72.00 to $81.00 and gave the company 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, fifteen have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, NIKE currently has a consensus rating of "Moderate Buy" and an average target price of $77.19.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.