Enterprise Bank & Trust Co Reduces Stock Position in NIKE, Inc. (NYSE:NKE)

Enterprise Bank & Trust Co lessened its holdings in NIKE, Inc. (NYSE:NKE) by 6.8% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,146 shares of the footwear maker’s stock after selling 1,544 shares during the quarter. Enterprise Bank & Trust Co’s holdings in NIKE were worth $1,342,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Heck Capital Advisors LLC bought a new position in shares of NIKE in the fourth quarter worth about $28,000. Caitlin John LLC grew its stake in NIKE by 117.0% in the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 200 shares in the last quarter. Roxbury Financial LLC bought a new position in NIKE in the 4th quarter worth about $30,000. LFA Lugano Financial Advisors SA increased its position in shares of NIKE by 110.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after acquiring an additional 210 shares during the period. Finally, Hopwood Financial Services Inc. bought a new stake in shares of NIKE during the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on NKE shares. Robert W. Baird reduced their price objective on NIKE from $105.00 to $99.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. The Goldman Sachs Group decreased their price objective on NIKE from $88.00 to $72.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Berenberg Bank started coverage on shares of NIKE in a report on Tuesday, April 15th. They set a “hold” rating and a $58.00 target price on the stock. China Renaissance initiated coverage on shares of NIKE in a research report on Wednesday, March 19th. They set a “hold” rating on the stock. Finally, Truist Financial lowered their price target on shares of NIKE from $90.00 to $82.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Seventeen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $80.26.

NIKE Stock Down 1.5%

NKE stock opened at $60.52 on Monday. The stock has a market capitalization of $89.52 billion, a PE ratio of 18.68, a price-to-earnings-growth ratio of 2.52 and a beta of 1.23. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $98.04. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The firm has a 50 day moving average of $59.08 and a 200 day moving average of $69.58.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. During the same period in the previous year, the firm posted $0.98 earnings per share. The business’s revenue for the quarter was down 9.1% compared to the same quarter last year. Sell-side analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE’s dividend payout ratio is presently 53.16%.

Insider Transactions at NIKE

In other NIKE news, Director Robert Holmes Swan purchased 8,600 shares of the business’s stock in a transaction that occurred on Friday, April 4th. The shares were bought at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the acquisition, the director now owns 31,983 shares in the company, valued at $1,869,726.18. This represents a 36.78% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.

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.