Atlantic Union Bankshares Corp Sells 1,801 Shares of NIKE, Inc. (NYSE:NKE)

Atlantic Union Bankshares Corp reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 5.4% during the third quarter, Holdings Channel reports. The institutional investor owned 31,536 shares of the footwear maker’s stock after selling 1,801 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in NIKE were worth $2,788,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of NKE. Teachers Insurance & Annuity Association of America purchased a new position in NIKE in the 3rd quarter worth approximately $30,000. VitalStone Financial LLC increased its stake in shares of NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after buying an additional 150 shares during the period. Bruce G. Allen Investments LLC increased its stake in shares of NIKE by 272.5% in the second 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 valued at $44,000. Finally, MFA Wealth Advisors LLC purchased a new stake in NIKE during the 2nd quarter valued at $46,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NYSE:NKE opened at $78.77 on Friday. The business has a fifty day moving average price of $80.18 and a 200-day moving average price of $82.17. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The company has a market capitalization of $118.10 billion, a PE ratio of 22.57, a PEG ratio of 1.90 and a beta of 1.03. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39.

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

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a $0.40 dividend. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date is Monday, December 2nd. NIKE’s payout ratio is presently 45.85%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Royal Bank of Canada decreased their price objective on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 7th. Williams Trading raised NIKE from a “sell” rating to a “buy” rating and upped their price target for the company from $67.00 to $93.00 in a research report on Friday, August 16th. Bank of America dropped their price objective on NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Morgan Stanley boosted their target price on NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Finally, Jefferies Financial Group lifted their price target on shares of NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a report on Monday, September 30th. Fourteen research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.86.

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.