Flputnam Investment Management Co. Has $1.93 Million Position in NIKE, Inc. (NYSE:NKE)

Flputnam Investment Management Co. cut its holdings in NIKE, Inc. (NYSE:NKE) by 21.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,738 shares of the footwear maker’s stock after selling 4,773 shares during the period. Flputnam Investment Management Co.’s holdings in NIKE were worth $1,926,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in NKE. BCK Partners Inc. bought a new stake in NIKE in the 1st quarter valued at about $2,839,000. Loomis Sayles & Co. L P increased its position in NIKE by 138.2% in the 1st quarter. Loomis Sayles & Co. L P now owns 11,233 shares of the footwear maker’s stock valued at $1,511,000 after buying an additional 6,518 shares in the last quarter. Merit Financial Group LLC increased its position in NIKE by 13.3% in the 1st quarter. Merit Financial Group LLC now owns 1,588 shares of the footwear maker’s stock valued at $214,000 after buying an additional 186 shares in the last quarter. Bridgewater Associates LP bought a new stake in NIKE in the 1st quarter valued at about $278,000. Finally, Federated Hermes Inc. increased its holdings in NIKE by 9.8% during the 1st quarter. Federated Hermes Inc. now owns 433,950 shares of the footwear maker’s stock worth $58,392,000 after purchasing an additional 38,903 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NKE. Jefferies Financial Group decreased their price objective on NIKE from $110.00 to $100.00 and set a “hold” rating for the company in a report on Friday, March 22nd. Truist Financial reissued a “hold” rating and set a $111.00 price objective on shares of NIKE in a report on Tuesday, March 19th. Citigroup decreased their price objective on NIKE from $135.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, March 14th. Wedbush reissued an “outperform” rating and set a $115.00 price objective on shares of NIKE in a report on Wednesday, March 27th. Finally, UBS Group cut their target price on NIKE from $138.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $116.26.

NIKE Trading Up 0.3 %

NIKE stock opened at $93.38 on Wednesday. The stock has a market cap of $140.94 billion, a P/E ratio of 27.46, a PEG ratio of 1.80 and a beta of 1.08. NIKE, Inc. has a fifty-two week low of $88.66 and a fifty-two week high of $128.68. The firm’s fifty day moving average price is $98.65 and its 200-day moving average price is $103.48. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.29. The firm had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. Equities research analysts forecast that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were paid a $0.37 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.48 dividend on an annualized basis and a yield of 1.58%. NIKE’s dividend payout ratio is presently 43.53%.

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.