Eagle Bluffs Wealth Management LLC Sells 592 Shares of NIKE, Inc. (NYSE:NKE)

Eagle Bluffs Wealth Management LLC reduced its stake in NIKE, Inc. (NYSE:NKE) by 11.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,756 shares of the footwear maker’s stock after selling 592 shares during the period. Eagle Bluffs Wealth Management LLC’s holdings in NIKE were worth $518,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. BCK Partners Inc. bought a new position in NIKE during the first quarter worth about $2,839,000. Loomis Sayles & Co. L P lifted its holdings in NIKE by 138.2% during the first quarter. Loomis Sayles & Co. L P now owns 11,233 shares of the footwear maker’s stock worth $1,511,000 after acquiring an additional 6,518 shares in the last quarter. Merit Financial Group LLC lifted its holdings in NIKE by 13.3% during the first quarter. Merit Financial Group LLC now owns 1,588 shares of the footwear maker’s stock worth $214,000 after acquiring an additional 186 shares in the last quarter. Bridgewater Associates LP bought a new position in NIKE during the first quarter worth about $278,000. Finally, Federated Hermes Inc. lifted its holdings in NIKE by 9.8% during the first quarter. Federated Hermes Inc. now owns 433,950 shares of the footwear maker’s stock worth $58,392,000 after acquiring an additional 38,903 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Robert W. Baird cut their price target on NIKE from $140.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, March 22nd. Oppenheimer downgraded NIKE from an “outperform” rating to a “market perform” rating and set a $110.00 target price on the stock. in a research report on Friday, February 16th. Jefferies Financial Group lowered their target price on NIKE from $110.00 to $100.00 and set a “hold” rating on the stock in a research report on Friday, March 22nd. Barclays lowered their target price on NIKE from $142.00 to $114.00 and set an “overweight” rating on the stock in a research report on Monday, March 25th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $100.00 price target (down previously from $110.00) on shares of NIKE in a research report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and a consensus target price of $116.26.

NIKE Price Performance

Shares of NYSE:NKE traded up $0.34 during trading on Tuesday, hitting $93.44. 8,013,796 shares of the company were exchanged, compared to its average volume of 9,540,069. The business’s 50 day moving average is $98.83 and its 200-day moving average is $103.49. The company has a market capitalization of $141.03 billion, a P/E ratio of 27.34, a price-to-earnings-growth ratio of 1.79 and a beta of 1.09. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. NIKE, Inc. has a 1-year low of $88.66 and a 1-year high of $128.68.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. The business had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. Equities analysts forecast that NIKE, Inc. will post 3.7 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.48 dividend on an annualized basis and a yield of 1.58%. NIKE’s payout ratio is currently 43.53%.

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.