NIKE, Inc. (NYSE:NKE) Stake Reduced by First Interstate Bank

First Interstate Bank reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 3.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 56,667 shares of the footwear maker’s stock after selling 2,175 shares during the period. First Interstate Bank’s holdings in NIKE were worth $6,152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Impact Partnership Wealth LLC grew its stake in shares of NIKE by 220.7% in the third quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock worth $25,000 after purchasing an additional 181 shares in the last quarter. Iron Horse Wealth Management LLC grew its stake in shares of NIKE by 120.7% in the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 140 shares in the last quarter. Planned Solutions Inc. bought a new position in NIKE during the fourth quarter valued at about $29,000. Financial Freedom LLC bought a new position in NIKE during the fourth quarter valued at about $29,000. Finally, Worth Asset Management LLC bought a new position in NIKE during the first quarter valued at about $32,000. 64.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on NKE shares. Truist Financial reaffirmed a “hold” rating and set a $111.00 target price on shares of NIKE in a research note on Tuesday, March 19th. BMO Capital Markets raised their target price on NIKE from $110.00 to $118.00 and gave the company an “outperform” rating in a research note on Friday, December 22nd. Bank of America raised NIKE from a “neutral” rating to a “buy” rating and raised their target price for the company from $110.00 to $113.00 in a research note on Thursday, April 11th. Oppenheimer downgraded NIKE from an “outperform” rating to a “market perform” rating and set a $110.00 target price for the company. in a report on Friday, February 16th. Finally, Citigroup reduced their target price on NIKE from $135.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, March 14th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and a consensus price target of $116.26.

NIKE Stock Performance

NYSE NKE traded up $0.28 during trading on Tuesday, reaching $93.38. 10,385,549 shares of the company’s stock were exchanged, compared to its average volume of 9,577,090. The business has a 50 day moving average price of $98.83 and a 200-day moving average price of $103.49. The stock has a market capitalization of $140.94 billion, a P/E ratio of 27.34, a PEG ratio of 1.79 and a beta of 1.09. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. NIKE, Inc. has a fifty-two week low of $88.66 and a fifty-two week high of $128.68.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, beating 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 company had revenue of $12.43 billion for the quarter, compared to the consensus estimate of $12.28 billion. Sell-side analysts forecast that NIKE, Inc. will post 3.7 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend was Friday, March 1st. NIKE’s payout ratio is 43.53%.

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.