Desjardins Global Asset Management Inc. Reduces Stake in NIKE, Inc. (NYSE:NKE)

Desjardins Global Asset Management Inc. lessened its stake in shares of NIKE, Inc. (NYSE:NKE) by 1.9% during the 4th quarter, Holdings Channel reports. The fund owned 7,610 shares of the footwear maker’s stock after selling 151 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in NIKE were worth $826,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Impact Partnership Wealth LLC boosted its holdings in NIKE by 220.7% in the 3rd quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock valued at $25,000 after purchasing an additional 181 shares during the last quarter. Iron Horse Wealth Management LLC grew its position in NIKE by 120.7% in the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 140 shares during the period. Planned Solutions Inc. acquired a new stake in NIKE during the fourth quarter worth $29,000. Financial Freedom LLC purchased a new stake in NIKE in the fourth quarter valued at $29,000. Finally, Worth Asset Management LLC purchased a new stake in NIKE in the first quarter valued at $32,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $100.00 target price (down previously from $110.00) on shares of NIKE in a research report on Friday, March 22nd. Morgan Stanley cut their target price on NIKE from $124.00 to $116.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 27th. JPMorgan Chase & Co. lowered their price target on NIKE from $139.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, December 22nd. Citigroup cut their price objective on NIKE from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, March 14th. Finally, Robert W. Baird lowered their target price on NIKE from $140.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $116.26.

NIKE Price Performance

NIKE stock opened at $94.84 on Thursday. The company has a market cap of $143.15 billion, a P/E ratio of 27.89, a price-to-earnings-growth ratio of 1.80 and a beta of 1.08. NIKE, Inc. has a one year low of $88.66 and a one year high of $128.68. The business has a fifty day moving average of $98.47 and a two-hundred day moving average of $103.42. 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 issued its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. The company had revenue of $12.43 billion during 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%. As a group, analysts predict that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.56%. The ex-dividend date was Friday, March 1st. NIKE’s dividend payout ratio (DPR) is 43.53%.

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.