Penserra Capital Management LLC Lowers Stake in NIKE, Inc. (NYSE:NKE)

Penserra Capital Management LLC trimmed its position in NIKE, Inc. (NYSE:NKE) by 18.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,224 shares of the footwear maker’s stock after selling 1,857 shares during the quarter. Penserra Capital Management LLC’s holdings in NIKE were worth $726,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of NKE. Kingsview Wealth Management LLC lifted its position in NIKE by 25.2% during the third quarter. Kingsview Wealth Management LLC now owns 89,189 shares of the footwear maker’s stock valued at $7,884,000 after buying an additional 17,941 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of NIKE by 2.6% during the 3rd quarter. Cerity Partners LLC now owns 409,706 shares of the footwear maker’s stock valued at $36,231,000 after acquiring an additional 10,546 shares in the last quarter. Great Valley Advisor Group Inc. boosted its position in NIKE by 4.9% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 11,409 shares of the footwear maker’s stock worth $1,009,000 after purchasing an additional 532 shares during the period. Leelyn Smith LLC increased its holdings in NIKE by 12.0% in the 3rd quarter. Leelyn Smith LLC now owns 38,192 shares of the footwear maker’s stock valued at $3,376,000 after purchasing an additional 4,107 shares in the last quarter. Finally, Camden National Bank raised its position in NIKE by 61.0% in the third quarter. Camden National Bank now owns 86,834 shares of the footwear maker’s stock valued at $7,676,000 after purchasing an additional 32,915 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on NKE shares. Truist Financial upgraded NIKE from a “hold” rating to a “buy” rating and increased their target price for the company from $83.00 to $97.00 in a research note on Thursday, October 10th. Barclays lowered their price objective on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 2nd. Williams Trading raised shares of NIKE from a “sell” rating to a “buy” rating and boosted their target price for the stock from $67.00 to $93.00 in a research report on Friday, August 16th. TD Cowen lowered their price target on shares of NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a report on Monday, November 18th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Fourteen research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.86.

NIKE Stock Performance

Shares of NKE opened at $78.31 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. The firm has a fifty day moving average of $80.39 and a 200-day moving average of $82.29. The company has a market cap of $117.41 billion, a price-to-earnings ratio of 22.44, a price-to-earnings-growth ratio of 1.92 and a beta of 1.03.

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

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a $0.40 dividend. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is currently 42.41%.

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.