NIKE, Inc. (NYSE:NKE) Shares Sold by Western Wealth Management LLC

Western Wealth Management LLC reduced its stake in NIKE, Inc. (NYSE:NKE) by 6.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,204 shares of the footwear maker’s stock after selling 1,149 shares during the quarter. Western Wealth Management LLC’s holdings in NIKE were worth $1,759,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of NKE. Impact Partnership Wealth LLC boosted its position in NIKE by 220.7% during the third quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock worth $25,000 after purchasing an additional 181 shares in the last quarter. Iron Horse Wealth Management LLC boosted its position in NIKE by 120.7% during the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 140 shares in the last quarter. Planned Solutions Inc. purchased a new stake in NIKE during the fourth quarter worth $29,000. Financial Freedom LLC purchased a new stake in NIKE during the fourth quarter worth $29,000. Finally, Worth Asset Management LLC purchased a new stake in NIKE during the first quarter worth $32,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NKE has been the topic of a number of research analyst reports. Morgan Stanley decreased their target price on NIKE from $124.00 to $116.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 27th. Evercore ISI cut their price target on NIKE from $127.00 to $117.00 and set an “outperform” rating for the company in a report on Friday, March 22nd. Piper Sandler cut their price target on NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a report on Friday, March 22nd. Jefferies Financial Group cut their price target on NIKE from $110.00 to $100.00 and set a “hold” rating for the company in a report on Friday, March 22nd. Finally, Truist Financial reissued a “hold” rating and issued a $111.00 price target on shares of NIKE in a report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $116.26.

NIKE Stock Performance

Shares of NIKE stock traded up $0.17 on Friday, reaching $95.91. 1,953,977 shares of the company were exchanged, compared to its average volume of 9,485,518. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. The company’s 50-day moving average is $98.31 and its two-hundred day moving average is $103.37. The firm has a market cap of $144.76 billion, a price-to-earnings ratio of 28.05, a P/E/G ratio of 1.83 and a beta of 1.08. NIKE, Inc. has a 1-year low of $88.66 and a 1-year high of $128.68.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.29. The business had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. As a group, research analysts expect that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.54%. The ex-dividend date was Friday, March 1st. NIKE’s dividend payout ratio is currently 43.53%.

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.