Brooklyn Investment Group Has $350,000 Stake in NIKE, Inc. (NYSE:NKE)

Brooklyn Investment Group trimmed its position in shares of NIKE, Inc. (NYSE:NKE) by 41.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,962 shares of the footwear maker’s stock after selling 2,772 shares during the period. Brooklyn Investment Group’s holdings in NIKE were worth $350,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of NKE. Legal & General Group Plc boosted its stake in shares of NIKE by 5.5% in the 2nd quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock valued at $832,785,000 after purchasing an additional 571,544 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of NIKE by 6.0% in the 3rd quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock valued at $910,801,000 after purchasing an additional 583,207 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of NIKE by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,602,534 shares of the footwear maker’s stock valued at $760,716,000 after purchasing an additional 117,187 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of NIKE by 19.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,209,868 shares of the footwear maker’s stock valued at $637,352,000 after purchasing an additional 1,184,252 shares in the last quarter. Finally, Loomis Sayles & Co. L P boosted its stake in shares of NIKE by 1,209,638.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock valued at $575,342,000 after purchasing an additional 6,507,856 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Performance

Shares of NKE stock opened at $77.61 on Wednesday. The stock has a fifty day moving average of $80.44 and a 200 day moving average of $82.32. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The firm has a market capitalization of $116.37 billion, a price-to-earnings ratio of 22.24, a PEG 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 announced 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 company had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. During the same quarter last year, the firm posted $0.94 earnings per share. The firm’s revenue was down 10.4% on a year-over-year basis. As a group, research analysts expect that NIKE, Inc. will post 2.75 earnings per share for the current year.

NIKE Increases Dividend

The company 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. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.06%. NIKE’s dividend payout ratio is 42.41%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their price target on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd. TD Cowen cut their target price on shares of NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research report on Monday, November 18th. Needham & Company LLC started coverage on shares of NIKE in a research report on Friday, November 22nd. They set a “buy” rating and a $84.00 target price on the stock. Truist Financial upgraded shares of NIKE from a “hold” rating to a “buy” rating and lifted their target price for the stock from $83.00 to $97.00 in a research report on Thursday, October 10th. Finally, Piper Sandler reiterated a “neutral” rating and set a $80.00 target price on shares of NIKE in a research report on Friday, September 20th. Fourteen research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $95.86.

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.