Gordian Capital Singapore Pte Ltd Trims Position in NIKE, Inc. (NYSE:NKE)

Gordian Capital Singapore Pte Ltd reduced its position in NIKE, Inc. (NYSE:NKE) by 10.5% in the 3rd quarter, Holdings Channel reports. The fund owned 20,481 shares of the footwear maker’s stock after selling 2,400 shares during the period. NIKE makes up about 0.7% of Gordian Capital Singapore Pte Ltd’s investment portfolio, making the stock its 19th biggest position. Gordian Capital Singapore Pte Ltd’s holdings in NIKE were worth $1,811,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Teachers Insurance & Annuity Association of America acquired a new position in NIKE in the third quarter valued at $30,000. VitalStone Financial LLC grew its holdings in NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after buying an additional 150 shares during the period. Triad Wealth Partners LLC acquired a new position in shares of NIKE during the 2nd quarter valued at about $44,000. Dunhill Financial LLC lifted its holdings in shares of NIKE by 52.2% during the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after acquiring an additional 169 shares during the period. Finally, MFA Wealth Advisors LLC acquired a new stake in shares of NIKE in the second quarter worth approximately $46,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on NKE shares. Piper Sandler reaffirmed a “neutral” rating and set a $80.00 price target on shares of NIKE in a research report on Friday, September 20th. Truist Financial upgraded 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 report on Thursday, October 10th. Jefferies Financial Group lifted their target price on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a report on Monday, September 30th. Guggenheim dropped their price target on NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Finally, Daiwa America lowered NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Fourteen investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.54.

NIKE Trading Up 0.4 %

NYSE NKE opened at $78.89 on Monday. The company’s fifty day moving average price is $79.25 and its two-hundred day moving average price is $81.55. The company has a market capitalization of $118.28 billion, a price-to-earnings ratio of 22.60, a price-to-earnings-growth ratio of 1.93 and a beta of 1.02. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same period last year, the firm earned $0.94 earnings per share. The company’s revenue for the quarter was down 10.4% compared to the same quarter last year. As a group, research analysts predict that NIKE, Inc. will post 2.73 earnings per share for the current fiscal 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. 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 2.03%. The ex-dividend date of this dividend is Monday, December 2nd. NIKE’s dividend payout ratio is currently 45.85%.

NIKE Company 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.