Chevy Chase Trust Holdings LLC Reduces Holdings in NIKE, Inc. (NYSE:NKE)

Chevy Chase Trust Holdings LLC reduced its position in NIKE, Inc. (NYSE:NKE) by 2.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 895,962 shares of the footwear maker’s stock after selling 26,583 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.06% of NIKE worth $79,203,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of NKE. Legal & General Group Plc increased its holdings in NIKE by 5.5% during the 2nd quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock worth $832,785,000 after purchasing an additional 571,544 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of NIKE by 6.0% during the third quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock worth $910,801,000 after buying an additional 583,207 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of NIKE by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,602,534 shares of the footwear maker’s stock worth $760,716,000 after buying an additional 117,187 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in NIKE by 19.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,209,868 shares of the footwear maker’s stock valued at $637,352,000 after acquiring an additional 1,184,252 shares in the last quarter. Finally, Loomis Sayles & Co. L P boosted its stake in NIKE by 1,209,638.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock valued at $575,342,000 after acquiring an additional 6,507,856 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on NKE shares. Stifel Nicolaus dropped their target price on shares of NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research report on Monday, August 26th. Williams Trading raised NIKE from a “sell” rating to a “buy” rating and boosted their price objective for the company from $67.00 to $93.00 in a report on Friday, August 16th. Morgan Stanley upped their price objective on NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Piper Sandler reiterated a “neutral” rating and issued a $80.00 price target on shares of NIKE in a report on Friday, September 20th. Finally, Bank of America dropped their price target on NIKE from $104.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Fourteen research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and an average target price of $95.86.

NIKE Trading Up 0.5 %

Shares of NKE stock opened at $78.77 on Monday. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. The firm has a market capitalization of $118.10 billion, a PE ratio of 22.57, a price-to-earnings-growth ratio of 1.91 and a beta of 1.03. The stock has a fifty day moving average of $80.18 and a two-hundred day moving average of $82.03. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.18. The business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.94 earnings per share. As a group, research analysts expect that NIKE, Inc. will post 2.75 EPS for the current year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a $0.40 dividend. The ex-dividend date is Monday, December 2nd. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.03%. NIKE’s dividend payout ratio (DPR) is 42.41%.

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.