Old North State Trust LLC Has $402,000 Stock Holdings in NIKE, Inc. (NYSE:NKE)

Old North State Trust LLC lessened its holdings in NIKE, Inc. (NYSE:NKE) by 3.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,545 shares of the footwear maker’s stock after selling 170 shares during the quarter. Old North State Trust LLC’s holdings in NIKE were worth $402,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in NKE. ING Groep NV acquired a new position in shares of NIKE in the third quarter worth approximately $29,628,000. Cordatus Wealth Management LLC increased its holdings in NIKE by 19.5% in the third quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker’s stock worth $3,669,000 after purchasing an additional 6,778 shares in the last quarter. Bristlecone Advisors LLC boosted its holdings in shares of NIKE by 14.3% during the 3rd quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock worth $8,267,000 after buying an additional 11,665 shares in the last quarter. Coldstream Capital Management Inc. grew its position in shares of NIKE by 62.3% during the 3rd quarter. Coldstream Capital Management Inc. now owns 121,279 shares of the footwear maker’s stock worth $10,347,000 after buying an additional 46,567 shares during the period. Finally, Investment Management Corp of Ontario increased its stake in shares of NIKE by 49.4% in the 3rd quarter. Investment Management Corp of Ontario now owns 40,238 shares of the footwear maker’s stock valued at $3,557,000 after acquiring an additional 13,300 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Williams Trading upgraded NIKE from a “sell” rating to a “buy” rating and lifted their price target for the stock from $67.00 to $93.00 in a report on Friday, August 16th. Barclays reduced their price target on shares of NIKE from $81.00 to $79.00 and set an “equal weight” rating for the company in a research report on Wednesday. Truist Financial raised shares of NIKE from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $83.00 to $97.00 in a research report on Thursday, October 10th. Guggenheim decreased their price target on shares of NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Finally, Bank of America dropped their price objective on NIKE from $100.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, December 5th. Fourteen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $94.11.

NIKE Stock Performance

Shares of NIKE stock opened at $77.97 on Friday. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The stock’s fifty day moving average is $78.62 and its two-hundred day moving average is $81.31. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The company has a market capitalization of $116.91 billion, a PE ratio of 22.34, a price-to-earnings-growth ratio of 1.93 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. During the same quarter in the previous year, the business earned $0.94 earnings per share. NIKE’s quarterly revenue was down 10.4% on a year-over-year basis. As a group, analysts expect that NIKE, Inc. will post 2.73 earnings per share for the current year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a yield of 2.05%. NIKE’s dividend payout ratio (DPR) is 45.85%.

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.