Parisi Gray Wealth Management Trims Stake in NIKE, Inc. (NYSE:NKE)

Parisi Gray Wealth Management cut its stake in shares of NIKE, Inc. (NYSE:NKE) by 13.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,268 shares of the footwear maker’s stock after selling 2,100 shares during the period. Parisi Gray Wealth Management’s holdings in NIKE were worth $1,440,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in NIKE by 6.8% during the 2nd quarter. BlackRock Inc. now owns 92,826,102 shares of the footwear maker’s stock valued at $10,245,217,000 after acquiring an additional 5,917,963 shares during the last quarter. State Street Corp raised its stake in shares of NIKE by 2.7% during the 2nd quarter. State Street Corp now owns 55,210,541 shares of the footwear maker’s stock worth $6,111,923,000 after buying an additional 1,447,861 shares in the last quarter. Morgan Stanley raised its stake in shares of NIKE by 26.4% during the 4th quarter. Morgan Stanley now owns 30,720,119 shares of the footwear maker’s stock worth $3,594,561,000 after buying an additional 6,410,744 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of NIKE by 7.2% during the 2nd quarter. Alliancebernstein L.P. now owns 22,371,886 shares of the footwear maker’s stock worth $2,469,185,000 after buying an additional 1,493,704 shares in the last quarter. Finally, FMR LLC raised its stake in shares of NIKE by 0.7% during the 3rd quarter. FMR LLC now owns 18,502,409 shares of the footwear maker’s stock worth $1,769,200,000 after buying an additional 125,746 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Trading Up 0.2 %

Shares of NKE stock traded up $0.15 during mid-day trading on Thursday, hitting $94.28. 937,803 shares of the company’s stock were exchanged, compared to its average volume of 9,256,306. NIKE, Inc. has a fifty-two week low of $88.66 and a fifty-two week high of $128.68. The stock has a 50-day simple moving average of $101.65 and a two-hundred day simple moving average of $103.69. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. The stock has a market cap of $143.49 billion, a price-to-earnings ratio of 27.76, a PEG ratio of 1.74 and a beta of 1.10.

NIKE (NYSE:NKE) last issued its 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. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The business had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.28 billion. Equities analysts expect that NIKE, Inc. will post 3.7 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 4th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date is Friday, March 1st. NIKE’s payout ratio is currently 43.53%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on NKE shares. Piper Sandler cut their target price on NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a research note on Friday, March 22nd. UBS Group lowered their price target on NIKE from $138.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Royal Bank of Canada restated a “sector perform” rating and issued a $100.00 price target (down previously from $110.00) on shares of NIKE in a report on Friday, March 22nd. Deutsche Bank Aktiengesellschaft lowered their price target on NIKE from $132.00 to $128.00 and set a “buy” rating on the stock in a report on Friday, December 22nd. Finally, Robert W. Baird lowered their price target on NIKE from $140.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and an average target price of $116.75.

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.