NIKE, Inc. (NYSE:NKE) Shares Sold by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. lowered its holdings in shares of NIKE, Inc. (NYSE:NKE) by 18.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 3,281 shares of the footwear maker’s stock after selling 765 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in NIKE were worth $356,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of NKE. Oliver Luxxe Assets LLC boosted its holdings in shares of NIKE by 2.9% during the third quarter. Oliver Luxxe Assets LLC now owns 37,510 shares of the footwear maker’s stock worth $3,587,000 after purchasing an additional 1,041 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in NIKE during the fourth quarter worth approximately $8,034,000. Financial Gravity Asset Management Inc. boosted its holdings in shares of NIKE by 2,332.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 184,042 shares of the footwear maker’s stock valued at $17,598,000 after purchasing an additional 176,476 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of NIKE by 10,184.3% during the 4th quarter. International Assets Investment Management LLC now owns 388,131 shares of the footwear maker’s stock valued at $42,139,000 after buying an additional 384,357 shares during the period. Finally, Franklin Street Advisors Inc. NC increased its holdings in shares of NIKE by 55.6% during the 4th quarter. Franklin Street Advisors Inc. NC now owns 194,164 shares of the footwear maker’s stock worth $21,080,000 after buying an additional 69,363 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Down 1.0 %

NYSE NKE traded down $0.91 during trading on Tuesday, reaching $93.15. The company’s stock had a trading volume of 1,095,545 shares, compared to its average volume of 9,274,899. The business has a 50-day moving average price of $96.78 and a 200-day moving average price of $103.33. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. NIKE, Inc. has a 1-year low of $88.66 and a 1-year high of $128.68. The stock has a market capitalization of $140.60 billion, a PE ratio of 27.67, a PEG ratio of 1.82 and a beta of 1.09.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.29. The business had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. On average, research analysts forecast that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were paid a $0.37 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.48 annualized dividend and a dividend yield of 1.59%. NIKE’s payout ratio is 43.53%.

Wall Street Analysts Forecast Growth

NKE has been the subject of a number of recent research reports. Truist Financial reiterated a “hold” rating and issued a $111.00 target price on shares of NIKE in a research note on Tuesday, March 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $100.00 price target (down from $110.00) on shares of NIKE in a report on Friday, March 22nd. UBS Group dropped their price objective on shares of NIKE from $138.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. TheStreet downgraded shares of NIKE from a “b” rating to a “c+” rating in a research report on Tuesday, January 9th. Finally, Morgan Stanley cut their price objective on NIKE from $124.00 to $116.00 and set an “overweight” rating for the company in a report on Wednesday, March 27th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.26.

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.