Truist Financial Corp raised its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 0.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 461,071 shares of the footwear maker's stock after buying an additional 3,566 shares during the period. Truist Financial Corp's holdings in NIKE were worth $29,269,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Spire Wealth Management boosted its stake in shares of NIKE by 4.4% during the 1st quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker's stock valued at $627,000 after buying an additional 416 shares during the period. Renaissance Technologies LLC boosted its stake in shares of NIKE by 1,302.7% during the 4th quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker's stock valued at $196,901,000 after buying an additional 2,416,601 shares during the period. Capitolis Liquid Global Markets LLC boosted its stake in shares of NIKE by 40.9% during the 4th quarter. Capitolis Liquid Global Markets LLC now owns 310,000 shares of the footwear maker's stock valued at $23,458,000 after buying an additional 90,000 shares during the period. Janus Henderson Group PLC boosted its stake in shares of NIKE by 8.3% during the 4th quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker's stock valued at $460,160,000 after buying an additional 463,470 shares during the period. Finally, Markel Group Inc. boosted its stake in shares of NIKE by 0.8% during the 4th quarter. Markel Group Inc. now owns 432,400 shares of the footwear maker's stock valued at $32,720,000 after buying an additional 3,500 shares during the period. Institutional investors and hedge funds own 64.25% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on the stock. Hsbc Global Res upgraded shares of NIKE from a "hold" rating to a "strong-buy" rating in a report on Friday, June 27th. Evercore ISI cut their price target on shares of NIKE from $97.00 to $75.00 and set an "outperform" rating on the stock in a report on Tuesday, June 24th. UBS Group assumed coverage on shares of NIKE in a report on Sunday. They set a "buy" rating on the stock. The Goldman Sachs Group raised their price target on shares of NIKE from $72.00 to $81.00 and gave the company a "buy" rating in a report on Friday, June 27th. Finally, Williams Trading cut their price target on shares of NIKE from $93.00 to $73.00 and set a "buy" rating on the stock in a report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, NIKE has a consensus rating of "Moderate Buy" and a consensus price target of $77.19.
Check Out Our Latest Analysis on NKE
NIKE Price Performance
Shares of NKE stock traded up $0.18 during trading hours on Monday, reaching $76.57. 17,282,720 shares of the company were exchanged, compared to its average volume of 15,363,179. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $90.62. The stock's fifty day moving average is $62.36 and its two-hundred day moving average is $67.35. The company has a market cap of $113.26 billion, a price-to-earnings ratio of 35.45, a P/E/G ratio of 2.77 and a beta of 1.25. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50.
NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The company had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.69 billion. During the same period in the prior year, the business earned $0.99 earnings per share. NIKE's quarterly revenue was down 11.9% on a year-over-year basis. Sell-side analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.
NIKE Dividend Announcement
The business also recently announced 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 was Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.09%. NIKE's payout ratio is 74.07%.
About NIKE
(
Free Report)
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.
Further Reading
Before you consider NIKE, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and NIKE wasn't on the list.
While NIKE currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
