Metis Global Partners LLC Has $3.74 Million Stock Holdings in NIKE, Inc. (NYSE:NKE)

Metis Global Partners LLC lowered its holdings in shares of NIKE, Inc. (NYSE:NKE) by 5.1% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 42,346 shares of the footwear maker’s stock after selling 2,298 shares during the period. Metis Global Partners LLC’s holdings in NIKE were worth $3,743,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of NKE. Transcendent Capital Group LLC lifted its holdings in shares of NIKE by 97.6% in the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after acquiring an additional 200 shares during the last quarter. VitalStone Financial LLC boosted its position in NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after buying an additional 150 shares in the last quarter. Bruce G. Allen Investments LLC boosted its position in NIKE by 272.5% in the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after buying an additional 376 shares in the last quarter. Triad Wealth Partners LLC bought a new stake in shares of NIKE during the second quarter worth $44,000. Finally, MFA Wealth Advisors LLC acquired a new position in shares of NIKE during the second quarter worth $46,000. 64.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NKE. Bank of America reduced their price objective on NIKE from $104.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Barclays lowered 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. Deutsche Bank Aktiengesellschaft cut their target price 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. Truist Financial upgraded shares of NIKE from a “hold” rating to a “buy” rating and upped their price target for the company from $83.00 to $97.00 in a research report on Thursday, October 10th. Finally, Royal Bank of Canada cut their price target on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a report on Thursday, November 7th. Fourteen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $96.48.

NIKE Trading Down 1.1 %

Shares of NIKE stock opened at $75.67 on Friday. The stock has a market capitalization of $113.46 billion, a PE ratio of 21.68, a price-to-earnings-growth ratio of 1.86 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 stock has a 50 day moving average price of $81.07 and a two-hundred day moving average price of $83.44. 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 posted its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter last year, the firm posted $0.94 EPS. NIKE’s revenue was down 10.4% compared to the same quarter last year. As a group, equities analysts anticipate that NIKE, Inc. will post 2.74 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. Investors of record on Monday, December 2nd will be given a $0.40 dividend. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.11%. NIKE’s dividend payout ratio (DPR) is presently 42.41%.

NIKE 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.