Kimelman & Baird LLC Lowers Stock Position in NIKE, Inc. (NYSE:NKE)

Kimelman & Baird LLC decreased its position in NIKE, Inc. (NYSE:NKE) by 1.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 188,308 shares of the footwear maker’s stock after selling 3,655 shares during the period. NIKE comprises 1.3% of Kimelman & Baird LLC’s investment portfolio, making the stock its 27th biggest position. Kimelman & Baird LLC’s holdings in NIKE were worth $16,646,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of NKE. Teachers Insurance & Annuity Association of America purchased a new position in NIKE during the third quarter worth approximately $30,000. VitalStone Financial LLC raised its stake in shares of NIKE by 52.6% during the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after buying an additional 150 shares during the period. Dunhill Financial LLC lifted its position in shares of NIKE by 52.2% during the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after buying an additional 169 shares in the last quarter. Triad Wealth Partners LLC acquired a new stake in NIKE in the 2nd quarter valued at $44,000. Finally, Riverview Trust Co purchased a new stake in NIKE in the 3rd quarter worth $52,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Performance

Shares of NIKE stock opened at $78.89 on Friday. The firm has a market cap of $118.28 billion, a PE ratio of 22.60, a price-to-earnings-growth ratio of 1.91 and a beta of 1.02. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The business’s fifty day simple moving average is $79.25 and its 200-day simple moving average is $81.63.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The company had revenue of $11.59 billion for 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%. During the same quarter in the prior year, the company posted $0.94 earnings per share. NIKE’s revenue for the quarter was down 10.4% compared to the same quarter last year. Equities analysts forecast that NIKE, Inc. will post 2.73 earnings per share for the current year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.03%. This is a boost from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio (DPR) is presently 45.85%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Truist Financial upgraded shares of NIKE from a “hold” rating to a “buy” rating and lifted their target price for the company from $83.00 to $97.00 in a research report on Thursday, October 10th. Needham & Company LLC started coverage on shares of NIKE in a research note on Friday, November 22nd. They issued a “buy” rating and a $84.00 price target on the stock. Barclays cut their price objective on NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 2nd. Guggenheim decreased their target price on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Finally, UBS Group boosted their price target on NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $95.54.

About NIKE

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.