Mizuho Securities USA LLC Sells 15,504 Shares of NIKE, Inc. (NYSE:NKE)

Mizuho Securities USA LLC decreased its holdings in NIKE, Inc. (NYSE:NKE) by 16.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 77,908 shares of the footwear maker’s stock after selling 15,504 shares during the quarter. Mizuho Securities USA LLC’s holdings in NIKE were worth $6,887,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Edgestream Partners L.P. purchased a new position in NIKE during the first quarter valued at $727,000. Covestor Ltd lifted its position in shares of NIKE by 51.4% during the 1st quarter. Covestor Ltd now owns 825 shares of the footwear maker’s stock valued at $77,000 after buying an additional 280 shares in the last quarter. Seven Eight Capital LP purchased a new position in shares of NIKE during the 1st quarter valued at about $612,000. Shell Asset Management Co. lifted its holdings in NIKE by 21.1% in the 1st quarter. Shell Asset Management Co. now owns 16,342 shares of the footwear maker’s stock worth $1,536,000 after purchasing an additional 2,850 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in shares of NIKE by 86.0% during the 1st quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock worth $1,970,000 after acquiring an additional 9,689 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

NYSE NKE opened at $73.33 on Thursday. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The stock has a market capitalization of $109.95 billion, a P/E ratio of 21.01, a P/E/G ratio of 1.80 and a beta of 1.03. The business’s fifty day moving average is $80.61 and its two-hundred day moving average is $82.83.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The company 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%. The business’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.94 earnings per share. On average, research analysts forecast that NIKE, Inc. will post 2.74 earnings per share for the current fiscal year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders 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. This represents a $1.60 annualized dividend and a dividend yield of 2.18%. The ex-dividend date is Monday, December 2nd. NIKE’s payout ratio is presently 42.41%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Truist Financial raised NIKE from a “hold” rating to a “buy” rating and upped their price objective for the stock from $83.00 to $97.00 in a report on Thursday, October 10th. UBS Group raised their price objective on NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Evercore ISI decreased their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. Robert W. Baird lifted their price target on NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Finally, JPMorgan Chase & Co. cut their price objective on NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and an average target price of $96.30.

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.