Infusive Asset Management Inc. Sells 84,549 Shares of NIKE, Inc. (NYSE:NKE)

Infusive Asset Management Inc. decreased its holdings in NIKE, Inc. (NYSE:NKE) by 66.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 42,820 shares of the footwear maker’s stock after selling 84,549 shares during the period. NIKE makes up about 1.6% of Infusive Asset Management Inc.’s portfolio, making the stock its 27th biggest position. Infusive Asset Management Inc.’s holdings in NIKE were worth $3,785,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of NKE. Teachers Insurance & Annuity Association of America acquired a new stake in shares of NIKE during the 3rd quarter valued at $30,000. VitalStone Financial LLC raised its holdings in NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after buying an additional 150 shares during the last quarter. Bruce G. Allen Investments LLC boosted its position in NIKE by 272.5% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after buying an additional 376 shares during the period. Triad Wealth Partners LLC bought a new stake in NIKE during the 2nd quarter worth approximately $44,000. Finally, MFA Wealth Advisors LLC acquired a new position in NIKE in the 2nd quarter valued at approximately $46,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Up 0.9 %

NKE opened at $78.34 on Friday. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The company has a market cap of $117.46 billion, a PE ratio of 22.45, a price-to-earnings-growth ratio of 1.90 and a beta of 1.03. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The company has a 50 day moving average of $80.34 and a 200 day moving average of $82.27.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating 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 business had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. During the same quarter in the previous year, the firm earned $0.94 EPS. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. On average, sell-side analysts expect that NIKE, Inc. will post 2.75 EPS for the current year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, December 2nd. 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%. NIKE’s dividend payout ratio is currently 42.41%.

Wall Street Analysts Forecast Growth

NKE has been the topic of several analyst reports. Sanford C. Bernstein reduced their price objective on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research note on Thursday, September 19th. Morgan Stanley upped their price target on NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Truist Financial upgraded NIKE from a “hold” rating to a “buy” rating and raised their price objective for the stock from $83.00 to $97.00 in a research report on Thursday, October 10th. UBS Group increased their target price on shares of NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Finally, Guggenheim dropped their price target on shares of NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Fourteen equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus 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.