Ontario Teachers Pension Plan Board Sells 3,119 Shares of NIKE, Inc. (NYSE:NKE)

Ontario Teachers Pension Plan Board lowered its stake in NIKE, Inc. (NYSE:NKE) by 50.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,119 shares of the footwear maker’s stock after selling 3,119 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in NIKE were worth $276,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in NKE. Advisors Asset Management Inc. boosted its position in shares of NIKE by 39.6% in the third quarter. Advisors Asset Management Inc. now owns 48,282 shares of the footwear maker’s stock valued at $4,268,000 after acquiring an additional 13,689 shares during the period. NS Partners Ltd lifted its stake in NIKE by 1.9% in the 3rd quarter. NS Partners Ltd now owns 237,982 shares of the footwear maker’s stock worth $21,038,000 after purchasing an additional 4,332 shares in the last quarter. Kirtland Hills Capital Management LLC lifted its stake in NIKE by 51.6% in the 3rd quarter. Kirtland Hills Capital Management LLC now owns 14,219 shares of the footwear maker’s stock worth $1,257,000 after purchasing an additional 4,838 shares in the last quarter. Strategy Asset Managers LLC boosted its holdings in NIKE by 30.1% in the 3rd quarter. Strategy Asset Managers LLC now owns 4,005 shares of the footwear maker’s stock valued at $354,000 after purchasing an additional 927 shares during the period. Finally, Prospera Private Wealth LLC purchased a new position in shares of NIKE during the 3rd quarter valued at $401,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Morgan Stanley increased their price objective on NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Telsey Advisory Group lowered their price target on NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. Needham & Company LLC started coverage on NIKE in a research report on Friday. They set a “buy” rating and a $84.00 price target for the company. Truist Financial upgraded shares of NIKE from a “hold” rating to a “buy” rating and upped their price objective for the stock from $83.00 to $97.00 in a research report on Thursday, October 10th. Finally, Robert W. Baird lifted their target price on shares of NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Fourteen equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE has an average rating of “Moderate Buy” and a consensus target price of $95.86.

NIKE Stock Performance

NYSE:NKE opened at $77.40 on Friday. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The firm’s fifty day simple moving average is $80.51 and its 200 day simple moving average is $82.67. The stock has a market cap of $116.05 billion, a P/E ratio of 22.18, a price-to-earnings-growth ratio of 1.80 and a beta of 1.03. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.94 EPS. As a group, research analysts predict that NIKE, Inc. will post 2.74 EPS for the current year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.40 per share. The ex-dividend date is Monday, December 2nd. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.07%. NIKE’s payout ratio is currently 42.41%.

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.