NIKE, Inc. (NYSE:NKE) Position Reduced by Enterprise Bank & Trust Co

Enterprise Bank & Trust Co cut its position in shares of NIKE, Inc. (NYSE:NKE) by 0.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 26,518 shares of the footwear maker’s stock after selling 125 shares during the quarter. Enterprise Bank & Trust Co’s holdings in NIKE were worth $2,344,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. MGO One Seven LLC boosted its holdings in NIKE by 4.8% during the fourth quarter. MGO One Seven LLC now owns 18,637 shares of the footwear maker’s stock worth $2,023,000 after buying an additional 857 shares in the last quarter. True Wealth Design LLC raised its position in shares of NIKE by 106.4% during the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after purchasing an additional 150 shares during the period. Point72 Europe London LLP purchased a new stake in shares of NIKE during the fourth quarter valued at $2,064,000. Pitcairn Co. increased its stake in NIKE by 30.0% in the 4th quarter. Pitcairn Co. now owns 28,935 shares of the footwear maker’s stock worth $3,141,000 after purchasing an additional 6,675 shares in the last quarter. Finally, Bell Investment Advisors Inc lifted its stake in NIKE by 4.7% during the fourth quarter. Bell Investment Advisors Inc now owns 2,610 shares of the footwear maker’s stock valued at $283,000 after buying an additional 118 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Trading Up 2.1 %

NYSE:NKE opened at $82.46 on Thursday. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The company’s 50 day moving average is $81.18 and its 200-day moving average is $85.82. The firm has a market cap of $124.46 billion, a price-to-earnings ratio of 22.11, a P/E/G ratio of 2.30 and a beta of 1.02. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The firm had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The business’s revenue was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.94 EPS. Equities analysts anticipate that NIKE, Inc. will post 3.04 EPS for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were paid a dividend of $0.37 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.79%. NIKE’s payout ratio is 39.68%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on NKE shares. UBS Group lifted their target price on shares of NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Piper Sandler reissued a “neutral” rating and set a $80.00 target price on shares of NIKE in a research note on Friday, September 20th. Oppenheimer reaffirmed an “outperform” rating and issued a $120.00 target price on shares of NIKE in a research report on Friday, June 28th. Wells Fargo & Company increased their price objective on NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Finally, Evercore ISI decreased their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Fifteen investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $96.04.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the transaction, the chairman now owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

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.