Truist Financial Corp Reduces Stock Position in NIKE, Inc. (NYSE:NKE)

Truist Financial Corp cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 12.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 614,691 shares of the footwear maker’s stock after selling 91,139 shares during the quarter. Truist Financial Corp’s holdings in NIKE were worth $66,737,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

NKE has been the subject of several research reports. Oppenheimer lowered NIKE from an “outperform” rating to a “market perform” rating and set a $110.00 target price for the company. in a research report on Friday, February 16th. Citigroup reduced their price objective on NIKE from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, March 14th. Wells Fargo & Company reduced 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. Telsey Advisory Group reduced their price objective on NIKE from $140.00 to $120.00 and set an “outperform” rating for the company in a research report on Monday, March 18th. Finally, Wedbush restated an “outperform” rating and set a $115.00 price objective on shares of NIKE in a research report on Wednesday, March 27th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and a consensus price target of $116.26.

NIKE Stock Up 0.2 %

NKE opened at $94.12 on Friday. NIKE, Inc. has a one year low of $88.66 and a one year high of $128.68. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. The stock’s fifty day moving average is $96.96 and its 200-day moving average is $103.34. The company has a market capitalization of $142.06 billion, a PE ratio of 27.68, a P/E/G ratio of 1.82 and a beta of 1.08.

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

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date was Friday, March 1st. NIKE’s dividend payout ratio (DPR) is presently 43.53%.

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.