Baldwin Investment Management LLC Sells 349 Shares of NIKE, Inc. (NYSE:NKE)

Baldwin Investment Management LLC reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 1.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,044 shares of the footwear maker’s stock after selling 349 shares during the quarter. Baldwin Investment Management LLC’s holdings in NIKE were worth $2,037,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cadence Bank increased its stake in NIKE by 2.8% in the third quarter. Cadence Bank now owns 55,282 shares of the footwear maker’s stock valued at $4,887,000 after purchasing an additional 1,520 shares in the last quarter. Lazard Freres Gestion S.A.S. grew its holdings in shares of NIKE by 23.2% in the 3rd quarter. Lazard Freres Gestion S.A.S. now owns 747,675 shares of the footwear maker’s stock valued at $66,094,000 after buying an additional 140,632 shares during the period. Quantbot Technologies LP bought a new stake in shares of NIKE in the 3rd quarter valued at $6,844,000. D.A. Davidson & CO. raised its stake in NIKE by 11.8% during the 3rd quarter. D.A. Davidson & CO. now owns 104,951 shares of the footwear maker’s stock worth $9,278,000 after buying an additional 11,108 shares during the period. Finally, Bowie Capital Management LLC raised its stake in NIKE by 13.6% during the 3rd quarter. Bowie Capital Management LLC now owns 406,342 shares of the footwear maker’s stock worth $35,921,000 after buying an additional 48,733 shares during the period. 64.25% of the stock is owned by institutional investors.

NIKE Stock Down 2.1 %

Shares of NKE opened at $77.61 on Wednesday. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The firm’s 50 day moving average is $80.44 and its 200-day moving average is $82.32. The stock has a market capitalization of $116.37 billion, a PE ratio of 22.24, a P/E/G ratio of 1.92 and a beta of 1.03.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company’s revenue was down 10.4% on a year-over-year basis. During the same quarter last year, the company earned $0.94 EPS. Equities research analysts forecast that NIKE, Inc. will post 2.75 EPS for the current year.

NIKE Increases Dividend

The company 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 dividend of $0.40 per share. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, December 2nd. This represents a $1.60 annualized dividend and a yield of 2.06%. NIKE’s dividend payout ratio is currently 42.41%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NKE. Wells Fargo & Company increased their price target on NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Piper Sandler reaffirmed a “neutral” rating and issued a $80.00 price target on shares of NIKE in a research note on Friday, September 20th. Telsey Advisory Group lowered their price objective on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. UBS Group boosted their price objective on shares of NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Finally, Robert W. Baird increased their target price on NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Fourteen analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.