UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 1,976,339 Shares of NIKE, Inc. (NYSE:NKE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in NIKE, Inc. (NYSE:NKE) by 15.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,170,386 shares of the footwear maker’s stock after selling 1,976,339 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in NIKE were worth $987,462,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. VitalStone Financial LLC increased its position in NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after buying an additional 150 shares during the last quarter. Bruce G. Allen Investments LLC raised its stake in shares of NIKE by 272.5% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after purchasing an additional 376 shares during the period. Triad Wealth Partners LLC purchased a new stake in NIKE during the 2nd quarter worth about $44,000. MFA Wealth Advisors LLC purchased a new stake in NIKE during the 2nd quarter worth about $46,000. Finally, Lynx Investment Advisory purchased a new position in NIKE during the 2nd quarter valued at about $47,000. Institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NIKE stock opened at $78.31 on Thursday. The business has a 50 day moving average of $80.39 and a 200 day moving average of $82.29. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The company has a market cap of $117.41 billion, a PE ratio of 22.44, a P/E/G ratio of 1.92 and a beta of 1.03. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. During the same period in the prior year, the business earned $0.94 EPS. The company’s revenue for the quarter was down 10.4% on a year-over-year basis. As a group, equities research analysts forecast that NIKE, Inc. will post 2.75 earnings per share for the current year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a $0.40 dividend. 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 yield of 2.04%. NIKE’s dividend payout ratio (DPR) is 42.41%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Stifel Nicolaus lowered their target price on shares of NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a research note on Monday, August 26th. Piper Sandler restated a “neutral” rating and set a $80.00 target price on shares of NIKE in a research report on Friday, September 20th. Sanford C. Bernstein lowered their price target on NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a report on Thursday, September 19th. Barclays cut their price objective on NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a report on Wednesday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Fourteen analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $95.86.

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.