B. Riley Wealth Advisors Inc. Has $2.66 Million Stock Position in NIKE, Inc. (NYSE:NKE)

B. Riley Wealth Advisors Inc. trimmed its position in NIKE, Inc. (NYSE:NKE) by 5.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,633 shares of the footwear maker’s stock after selling 1,873 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in NIKE were worth $2,663,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Loomis Sayles & Co. L P boosted its holdings in shares of NIKE by 1,209,638.7% during the third quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock worth $575,342,000 after purchasing an additional 6,507,856 shares during the period. State Street Corp boosted its holdings in shares of NIKE by 3.3% during the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock worth $5,140,796,000 after purchasing an additional 1,862,021 shares during the period. Holocene Advisors LP acquired a new stake in shares of NIKE during the third quarter worth approximately $148,635,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of NIKE during the third quarter worth approximately $144,927,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of NIKE by 351.7% during the second quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock worth $150,101,000 after purchasing an additional 1,550,611 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Trading Down 0.9 %

Shares of NIKE stock opened at $77.25 on Monday. The company’s fifty day simple moving average is $78.52 and its 200-day simple moving average is $81.06. The company has a market cap of $115.83 billion, a price-to-earnings ratio of 22.13, a PEG ratio of 1.93 and a beta of 1.02. 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 1 year low of $70.75 and a 1 year high of $123.39.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.18. The business had revenue of $11.59 billion for 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%. NIKE’s quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter last year, the company posted $0.94 earnings per share. As a group, sell-side analysts expect that NIKE, Inc. will post 2.73 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 paid a $0.40 dividend. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.07%. NIKE’s dividend payout ratio (DPR) is presently 45.85%.

Analyst Upgrades and Downgrades

NKE has been the subject of several research reports. Truist Financial upgraded shares of NIKE from a “hold” rating to a “buy” rating and raised their price target for the stock from $83.00 to $97.00 in a report on Thursday, October 10th. Guggenheim decreased their price target on shares of NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Daiwa America lowered shares of NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Morgan Stanley cut their price objective on shares of NIKE from $82.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Friday. Finally, JPMorgan Chase & Co. cut their price objective on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research report on Monday, December 2nd. Fourteen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and an average price target of $94.04.

About NIKE

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.