Fmr LLC Has $1.42 Billion Holdings in NIKE, Inc. (NYSE:NKE)

Fmr LLC lowered its position in shares of NIKE, Inc. (NYSE:NKE) by 8.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,053,279 shares of the footwear maker’s stock after selling 1,466,272 shares during the quarter. Fmr LLC owned 1.07% of NIKE worth $1,419,110,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Garrison Point Advisors LLC raised its holdings in shares of NIKE by 1.9% during the third quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock valued at $593,000 after acquiring an additional 126 shares during the period. Stephens Consulting LLC raised its holdings in shares of NIKE by 20.0% during the third quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock valued at $68,000 after acquiring an additional 128 shares during the period. PSI Advisors LLC raised its holdings in shares of NIKE by 26.3% during the third quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock valued at $55,000 after acquiring an additional 130 shares during the period. Chapin Davis Inc. raised its holdings in shares of NIKE by 1.2% during the third quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock valued at $1,010,000 after acquiring an additional 133 shares during the period. Finally, Meridian Financial Partners LLC raised its holdings in shares of NIKE by 1.6% during the third quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock valued at $742,000 after acquiring an additional 133 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Telsey Advisory Group lowered their price objective on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Barclays lowered their price objective on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 2nd. Needham & Company LLC assumed coverage on shares of NIKE in a research report on Friday, November 22nd. They set a “buy” rating and a $84.00 price objective on the stock. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $80.00 price objective on shares of NIKE in a research report on Friday, September 20th. Fourteen investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $95.86.

NIKE Stock Performance

Shares of NKE stock opened at $77.61 on Wednesday. The company has a market capitalization of $116.37 billion, a P/E ratio of 22.24, a price-to-earnings-growth ratio of 1.92 and a beta of 1.03. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The company’s 50 day moving average price is $80.44 and its two-hundred day moving average price is $82.32. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.18. The company had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business’s quarterly revenue was down 10.4% on a year-over-year basis. During the same period last year, the business earned $0.94 EPS. On average, analysts expect that NIKE, Inc. will post 2.75 earnings per share for the current fiscal year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.40 per share. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is currently 42.41%.

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.