NIKE, Inc. (NYSE:NKE) Stock Position Reduced by Investment Partners LTD.

Investment Partners LTD. cut its stake in shares of NIKE, Inc. (NYSE:NKE) by 5.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,666 shares of the footwear maker’s stock after selling 157 shares during the period. Investment Partners LTD.’s holdings in NIKE were worth $289,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Impact Partnership Wealth LLC grew its position in NIKE by 220.7% in the third quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock worth $25,000 after acquiring an additional 181 shares in the last quarter. Grimes & Company Inc. boosted its holdings in shares of NIKE by 15.5% during the 3rd quarter. Grimes & Company Inc. now owns 85,010 shares of the footwear maker’s stock worth $8,129,000 after buying an additional 11,408 shares during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its holdings in shares of NIKE by 12.4% during the 3rd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 12,330 shares of the footwear maker’s stock worth $1,179,000 after buying an additional 1,359 shares during the period. Solidarity Wealth LLC boosted its holdings in shares of NIKE by 25.3% during the 3rd quarter. Solidarity Wealth LLC now owns 40,578 shares of the footwear maker’s stock worth $3,893,000 after buying an additional 8,201 shares during the period. Finally, Slow Capital Inc. boosted its holdings in shares of NIKE by 10.3% during the 3rd quarter. Slow Capital Inc. now owns 23,049 shares of the footwear maker’s stock worth $2,206,000 after buying an additional 2,148 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Trading Up 0.2 %

Shares of NYSE NKE traded up $0.18 during mid-day trading on Friday, hitting $94.12. The company’s stock had a trading volume of 6,115,744 shares, compared to its average volume of 9,124,711. The company’s fifty day simple moving average is $96.96 and its 200-day simple moving average is $103.30. NIKE, Inc. has a one year low of $88.66 and a one year high of $128.68. The stock has a market cap of $142.06 billion, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 1.81 and a beta of 1.08. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.29. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The business had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.28 billion. On average, sell-side analysts anticipate that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced 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 was Friday, March 1st. This represents a $1.48 annualized dividend and a yield of 1.57%. NIKE’s dividend payout ratio (DPR) is currently 43.53%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Wedbush reaffirmed an “outperform” rating and set a $115.00 price objective on shares of NIKE in a report on Wednesday, March 27th. Piper Sandler reduced their price target on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a report on Friday, March 22nd. Royal Bank of Canada reissued 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. Sanford C. Bernstein reduced their price target on shares of NIKE from $134.00 to $120.00 and set an “outperform” rating for the company in a report on Friday, March 22nd. Finally, UBS Group dropped their price objective on shares of NIKE from $138.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $116.26.

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.