Brown Brothers Harriman & Co. Sells 69,325 Shares of NIKE, Inc. (NYSE:NKE)

Brown Brothers Harriman & Co. lessened its holdings in NIKE, Inc. (NYSE:NKE) by 3.1% during the third quarter, HoldingsChannel reports. The fund owned 2,179,486 shares of the footwear maker’s stock after selling 69,325 shares during the quarter. NIKE accounts for about 1.3% of Brown Brothers Harriman & Co.’s investment portfolio, making the stock its 23rd biggest holding. Brown Brothers Harriman & Co.’s holdings in NIKE were worth $192,667,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in NKE. VitalStone Financial LLC lifted its holdings in shares of 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 purchasing an additional 150 shares in the last quarter. Bruce G. Allen Investments LLC boosted its holdings in NIKE by 272.5% during the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after purchasing an additional 376 shares during the last quarter. Triad Wealth Partners LLC purchased a new position in shares of NIKE in the 2nd quarter worth approximately $44,000. Riverview Trust Co bought a new position in NIKE in the 3rd quarter valued at $52,000. Finally, Beacon Capital Management LLC grew its position in NIKE by 111.2% during the first quarter. Beacon Capital Management LLC now owns 604 shares of the footwear maker’s stock valued at $57,000 after buying an additional 318 shares during the period. Institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NKE stock opened at $77.40 on Monday. The business’s fifty day moving average is $80.51 and its 200 day moving average is $82.52. 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 has a market cap of $116.05 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 1.88 and a beta of 1.03. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39.

NIKE (NYSE:NKE) last issued 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 net margin of 10.60% and a return on equity of 39.84%. The company had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. During the same period last year, the company posted $0.94 EPS. NIKE’s revenue was down 10.4% on a year-over-year basis. Research analysts expect that NIKE, Inc. will post 2.75 EPS for the current fiscal 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. This represents a $1.60 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio (DPR) is 42.41%.

Analyst Upgrades and Downgrades

Several brokerages have commented on NKE. Williams Trading raised shares of NIKE from a “sell” rating to a “buy” rating and lifted their price objective for the stock from $67.00 to $93.00 in a research report on Friday, August 16th. Piper Sandler reaffirmed a “neutral” rating and set a $80.00 price target on shares of NIKE in a research report on Friday, September 20th. Daiwa America lowered NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Wells Fargo & Company upped their price target on shares of NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Finally, Evercore ISI dropped their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. Fourteen equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $95.86.

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.