Glenmede Trust Co. NA Has $17.69 Million Stock Position in NIKE, Inc. (NYSE:NKE)

Glenmede Trust Co. NA cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 36.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 200,078 shares of the footwear maker’s stock after selling 113,420 shares during the period. Glenmede Trust Co. NA’s holdings in NIKE were worth $17,687,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of NKE. ING Groep NV bought a new position in NIKE in the third quarter valued at approximately $29,628,000. Cordatus Wealth Management LLC lifted its stake in shares of NIKE by 19.5% in the 3rd quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker’s stock valued at $3,669,000 after purchasing an additional 6,778 shares during the period. Bristlecone Advisors LLC boosted its position in shares of NIKE by 14.3% in the 3rd quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock worth $8,267,000 after purchasing an additional 11,665 shares during the last quarter. Lazard Freres Gestion S.A.S. grew its stake in shares of NIKE by 23.2% during the third quarter. Lazard Freres Gestion S.A.S. now owns 747,675 shares of the footwear maker’s stock worth $66,094,000 after purchasing an additional 140,632 shares during the period. Finally, D.A. Davidson & CO. increased its holdings in NIKE by 11.8% in the third quarter. D.A. Davidson & CO. now owns 104,951 shares of the footwear maker’s stock valued at $9,278,000 after purchasing an additional 11,108 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Morgan Stanley boosted their target price on NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Bank of America decreased their price objective on shares of NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Piper Sandler reiterated a “neutral” rating and issued a $80.00 target price on shares of NIKE in a report on Friday, September 20th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Finally, Truist Financial raised 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 note on Thursday, October 10th. Fourteen analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $95.86.

NIKE Price Performance

Shares of NYSE NKE opened at $78.34 on Friday. 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 business has a 50-day moving average of $80.34 and a 200-day moving average of $82.27. The stock has a market capitalization of $117.46 billion, a price-to-earnings ratio of 22.45, a PEG ratio of 1.90 and a beta of 1.03. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39.

NIKE (NYSE:NKE) last posted its quarterly 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 firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same period last year, the company earned $0.94 earnings per share. The business’s revenue was down 10.4% compared to the same quarter last year. As a group, sell-side analysts predict that NIKE, Inc. will post 2.75 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a dividend of $0.40 per share. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Monday, December 2nd. NIKE’s dividend payout ratio is 42.41%.

NIKE Company 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.