BNP Paribas Has $3.26 Million Stock Position in NIKE, Inc. (NYSE:NKE)

BNP Paribas cut its stake in NIKE, Inc. (NYSE:NKE) by 12.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 36,983 shares of the footwear maker’s stock after selling 5,393 shares during the quarter. BNP Paribas’ holdings in NIKE were worth $3,264,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Garrison Point Advisors LLC raised its stake in NIKE by 1.9% during the third quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock worth $593,000 after acquiring an additional 126 shares in the last quarter. Stephens Consulting LLC increased its position in shares of NIKE by 20.0% during the 3rd quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock worth $68,000 after purchasing an additional 128 shares in the last quarter. PSI Advisors LLC lifted its holdings in NIKE by 26.3% during the 3rd quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock valued at $55,000 after purchasing an additional 130 shares during the last quarter. Chapin Davis Inc. boosted its position in NIKE by 1.2% in the third quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock valued at $1,010,000 after buying an additional 133 shares in the last quarter. Finally, Meridian Financial Partners LLC grew its stake in NIKE by 1.6% during the third quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock worth $742,000 after buying an additional 133 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Trading Down 2.1 %

Shares of NYSE NKE opened at $77.61 on Wednesday. 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, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The company’s fifty day moving average is $80.44 and its 200-day moving average is $82.32. The stock has a market cap of $116.37 billion, a price-to-earnings ratio of 22.24, a P/E/G 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 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. During the same period in the previous year, the company posted $0.94 earnings per share. The company’s revenue for the quarter was down 10.4% on a year-over-year basis. Equities research analysts predict that NIKE, Inc. will post 2.75 EPS for the current year.

NIKE Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend 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 dividend yield of 2.06%. NIKE’s payout ratio is currently 42.41%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on NKE shares. Barclays cut their target price on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 2nd. Royal Bank of Canada cut their price objective on NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research report on Thursday, November 7th. Truist Financial upgraded NIKE from a “hold” rating to a “buy” rating and increased their target price for the stock from $83.00 to $97.00 in a report on Thursday, October 10th. Wells Fargo & Company lifted their price target on NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Finally, Piper Sandler reissued a “neutral” rating and set a $80.00 price objective on shares of NIKE in a report on Friday, September 20th. Fourteen investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and a consensus target price of $95.86.

NIKE 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.