Avestar Capital LLC Cuts Holdings in NIKE, Inc. (NYSE:NKE)

Avestar Capital LLC lowered its holdings in NIKE, Inc. (NYSE:NKE) by 22.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,754 shares of the footwear maker’s stock after selling 1,937 shares during the quarter. Avestar Capital LLC’s holdings in NIKE were worth $597,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of NKE. VitalStone Financial LLC raised its position in NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after buying an additional 150 shares during the last quarter. Bruce G. Allen Investments LLC grew its position in NIKE by 272.5% in the 2nd 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 period. Triad Wealth Partners LLC purchased a new stake in NIKE during the 2nd quarter valued at $44,000. Riverview Trust Co bought a new position in shares of NIKE during the 3rd quarter valued at $52,000. Finally, Beacon Capital Management LLC boosted its stake in shares of NIKE by 111.2% in the 1st quarter. Beacon Capital Management LLC now owns 604 shares of the footwear maker’s stock worth $57,000 after buying an additional 318 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

NIKE Trading Down 2.1 %

NYSE NKE opened at $77.61 on Wednesday. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The company has a market capitalization of $116.37 billion, a price-to-earnings ratio of 22.24, a price-to-earnings-growth ratio of 1.92 and a beta of 1.03. The company’s 50-day simple moving average is $80.44 and its two-hundred day simple moving average is $82.32.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping 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 business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same period in the previous year, the company posted $0.94 earnings per share. The firm’s revenue was down 10.4% on a year-over-year basis. Equities analysts forecast 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 $0.40 dividend. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is presently 42.41%.

Analyst Upgrades and Downgrades

NKE has been the subject of a number of research reports. Jefferies Financial Group upped their price objective on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Monday, September 30th. Truist Financial raised shares of NIKE from a “hold” rating to a “buy” rating and raised their price objective for the stock from $83.00 to $97.00 in a report on Thursday, October 10th. Robert W. Baird increased their price target on shares of NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Guggenheim reduced their price objective on NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Finally, Williams Trading raised NIKE from a “sell” rating to a “buy” rating and boosted their price target for the company from $67.00 to $93.00 in a report on Friday, August 16th. Fourteen equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and a consensus price target 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.