NIKE, Inc. (NYSE:NKE) Shares Sold by Weatherly Asset Management L. P.

Weatherly Asset Management L. P. reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 0.7% in the 4th quarter, HoldingsChannel reports. The firm owned 26,786 shares of the footwear maker’s stock after selling 180 shares during the quarter. Weatherly Asset Management L. P.’s holdings in NIKE were worth $2,918,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of NKE. Impact Partnership Wealth LLC raised its position in shares of NIKE by 220.7% during the 3rd quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock worth $25,000 after purchasing an additional 181 shares during the last quarter. Iron Horse Wealth Management LLC raised its position in shares of NIKE by 120.7% during the 4th 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 during the last quarter. Planned Solutions Inc. acquired a new position in shares of NIKE during the 4th quarter worth approximately $29,000. Raleigh Capital Management Inc. raised its position in shares of NIKE by 134.2% during the 3rd quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock worth $36,000 after purchasing an additional 216 shares during the last quarter. Finally, Stephens Consulting LLC raised its position in shares of NIKE by 160.0% during the 3rd quarter. Stephens Consulting LLC now owns 390 shares of the footwear maker’s stock worth $37,000 after purchasing an additional 240 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $100.00 price target (down from $110.00) on shares of NIKE in a report on Friday, March 22nd. Citigroup cut their price target on NIKE from $135.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, March 14th. Morgan Stanley cut their price target on NIKE from $124.00 to $116.00 and set an “overweight” rating for the company in a report on Wednesday, March 27th. Williams Trading reiterated a “sell” rating and issued a $85.00 price target (down from $92.00) on shares of NIKE in a report on Monday, March 18th. Finally, Truist Financial reiterated 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 assigned a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $116.26.

NIKE Stock Performance

Shares of NYSE:NKE traded down $0.15 on Tuesday, hitting $94.04. 6,579,633 shares of the company were exchanged, compared to its average volume of 9,562,076. The company’s 50 day moving average price is $97.85 and its two-hundred day moving average price is $103.46. NIKE, Inc. has a one year low of $88.66 and a one year high of $128.68. 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 firm has a market capitalization of $141.94 billion, a price-to-earnings ratio of 27.84, a PEG ratio of 1.82 and a beta of 1.09.

NIKE (NYSE:NKE) last posted its earnings results 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 for the quarter, compared to analysts’ expectations of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. Research analysts expect that NIKE, Inc. will post 3.73 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were issued a $0.37 dividend. The ex-dividend date was Friday, March 1st. This represents a $1.48 annualized dividend and a yield of 1.57%. 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.