M&T Bank Corp Decreases Holdings in NIKE, Inc. (NYSE:NKE)

M&T Bank Corp decreased its position in shares of NIKE, Inc. (NYSE:NKE) by 1.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 570,652 shares of the footwear maker’s stock after selling 7,055 shares during the period. M&T Bank Corp’s holdings in NIKE were worth $61,956,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Iron Horse Wealth Management LLC boosted its stake in shares of NIKE by 120.7% during the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 140 shares in the last quarter. Planned Solutions Inc. purchased a new stake in shares of NIKE during the 4th quarter worth approximately $29,000. Mizuho Securities Co. Ltd. boosted its stake in shares of NIKE by 100.0% during the 4th quarter. Mizuho Securities Co. Ltd. now owns 340 shares of the footwear maker’s stock worth $37,000 after acquiring an additional 170 shares in the last quarter. NewSquare Capital LLC boosted its stake in shares of NIKE by 372.0% during the 4th quarter. NewSquare Capital LLC now owns 354 shares of the footwear maker’s stock worth $38,000 after acquiring an additional 279 shares in the last quarter. Finally, Raleigh Capital Management Inc. raised its position in shares of NIKE by 134.2% during the 3rd quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock worth $36,000 after purchasing an additional 216 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Down 0.3 %

NYSE:NKE traded down $0.26 during trading hours on Friday, hitting $92.15. The stock had a trading volume of 5,736,711 shares, compared to its average volume of 8,740,078. The company has a market cap of $139.09 billion, a PE ratio of 27.10, a price-to-earnings-growth ratio of 1.78 and a beta of 1.07. The business has a 50 day simple moving average of $95.73 and a two-hundred day simple moving average of $103.05. NIKE, Inc. has a 1-year low of $88.66 and a 1-year high of $127.69. 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 (NYSE:NKE) last released its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The business had revenue of $12.43 billion during the quarter, compared to analyst estimates of $12.28 billion. Analysts predict that NIKE, Inc. will post 3.73 EPS for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Monday, June 3rd. NIKE’s dividend payout ratio (DPR) is 43.53%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Wells Fargo & Company cut their price objective on NIKE from $125.00 to $120.00 and set an “overweight” rating for the company in a research report on Friday, March 22nd. Stifel Nicolaus cut their price objective on NIKE from $129.00 to $117.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Truist Financial restated a “hold” rating and set a $111.00 price objective on shares of NIKE in a research report on Tuesday, March 19th. HSBC cut their price objective on NIKE from $120.00 to $115.00 and set a “hold” rating for the company in a research report on Monday, January 22nd. Finally, Bank of America upgraded NIKE from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $110.00 to $113.00 in a research report on Thursday, April 11th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and a consensus price target of $116.26.

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.