Citizens Financial Group Inc. RI Reduces Stock Position in NIKE, Inc. (NYSE:NKE)

Citizens Financial Group Inc. RI cut its stake in shares of NIKE, Inc. (NYSE:NKE) by 5.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 90,276 shares of the footwear maker’s stock after selling 5,190 shares during the period. Citizens Financial Group Inc. RI’s holdings in NIKE were worth $7,995,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Transcendent Capital Group LLC boosted its holdings in shares of NIKE by 97.6% in the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after buying an additional 200 shares during the last quarter. VitalStone Financial LLC boosted its stake in shares of NIKE by 52.6% during the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after acquiring an additional 150 shares during the last quarter. Bruce G. Allen Investments LLC grew its position in shares of NIKE by 272.5% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after acquiring an additional 376 shares during the period. Triad Wealth Partners LLC purchased a new stake in shares of NIKE in the 2nd quarter worth $44,000. Finally, MFA Wealth Advisors LLC bought a new position in NIKE in the 2nd quarter worth $46,000. 64.25% of the stock is owned by institutional investors.

NIKE Stock Performance

Shares of NYSE:NKE opened at $75.29 on Friday. The firm has a fifty day simple moving average of $80.55 and a two-hundred day simple moving average of $82.78. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $112.88 billion, a P/E ratio of 21.57, a PEG ratio of 1.80 and a beta of 1.03.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS 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 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 business posted $0.94 earnings per share. The firm’s revenue was down 10.4% on a year-over-year basis. On average, analysts expect that NIKE, Inc. will post 2.74 earnings per share for the current fiscal year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.13%. 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. NIKE’s dividend payout ratio is presently 42.41%.

Analyst Ratings Changes

A number of analysts have commented on NKE shares. Sanford C. Bernstein reduced their price target on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research report on Thursday, September 19th. JPMorgan Chase & Co. decreased their target price 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. Jefferies Financial Group upped their price target on shares of NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Monday, September 30th. Piper Sandler restated a “neutral” rating and set a $80.00 price objective on shares of NIKE in a research report on Friday, September 20th. Finally, Barclays lowered their target price on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.