GenTrust LLC Sells 447 Shares of NIKE, Inc. (NYSE:NKE)

GenTrust LLC decreased its holdings in NIKE, Inc. (NYSE:NKE) by 16.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,248 shares of the footwear maker’s stock after selling 447 shares during the period. GenTrust LLC’s holdings in NIKE were worth $245,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Moneta Group Investment Advisors LLC raised its position in NIKE by 139,649.9% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 16,813,307 shares of the footwear maker’s stock valued at $1,967,325,000 after purchasing an additional 16,801,276 shares during the period. Norges Bank purchased a new stake in shares of NIKE in the fourth quarter worth approximately $1,345,203,000. Newport Trust Company LLC bought a new position in NIKE in the third quarter worth approximately $679,775,000. Morgan Stanley grew its stake in NIKE by 26.4% in the fourth quarter. Morgan Stanley now owns 30,720,119 shares of the footwear maker’s stock worth $3,594,561,000 after purchasing an additional 6,410,744 shares in the last quarter. Finally, BlackRock Inc. grew its stake in NIKE by 6.8% in the second quarter. BlackRock Inc. now owns 92,826,102 shares of the footwear maker’s stock worth $10,245,217,000 after purchasing an additional 5,917,963 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on NKE. Piper Sandler dropped their target price on NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday, March 22nd. Jefferies Financial Group reduced their target price on NIKE from $110.00 to $100.00 and set a “hold” rating for the company in a research note on Friday, March 22nd. DZ Bank upgraded NIKE from a “hold” rating to a “buy” rating and set a $130.00 price objective for the company in a research note on Tuesday, December 12th. Wedbush restated an “outperform” rating and set a $115.00 target price on shares of NIKE in a research report on Wednesday. Finally, JPMorgan Chase & Co. dropped their target price on NIKE from $139.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, December 22nd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and an average target price of $116.52.

NIKE Stock Down 0.2 %

NYSE:NKE opened at $93.98 on Friday. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. The stock’s fifty day moving average is $101.52 and its two-hundred day moving average is $103.63. NIKE, Inc. has a 52 week low of $88.66 and a 52 week high of $128.68. The stock has a market capitalization of $143.03 billion, a price-to-earnings ratio of 27.64, a price-to-earnings-growth ratio of 1.76 and a beta of 1.10.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.29. The company had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. Research analysts anticipate that NIKE, Inc. will post 3.72 EPS for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 4th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Friday, March 1st. NIKE’s payout ratio is currently 43.53%.

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.