Bartlett & CO. Wealth Management LLC Decreases Holdings in NIKE, Inc. $NKE

Key Points

• Bartlett & CO. Wealth Management LLC reduced its stake in NIKE, Inc. by 74.2% in the second quarter, owning 64,605 shares worth $4,622,000 after selling 185,654 shares.
• NIKE's stock has shown a 6.2% increase, currently priced at $74.04, with a market cap of $109.35 billion after reporting better-than-expected quarterly earnings.
• The company declared a quarterly dividend of $0.40, resulting in an annualized yield of 2.2% and a dividend payout ratio of 74.07%.

Bartlett & CO. Wealth Management LLC reduced its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 74.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,605 shares of the footwear maker's stock after selling 185,654 shares during the period. Bartlett & CO. Wealth Management LLC's holdings in NIKE were worth $4,622,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Brighton Jones LLC raised its stake in shares of NIKE by 388.5% during the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock valued at $15,316,000 after purchasing an additional 160,980 shares during the period. NBC Securities Inc. grew its holdings in NIKE by 109,628.6% during the 1st quarter. NBC Securities Inc. now owns 7,681 shares of the footwear maker's stock valued at $487,000 after purchasing an additional 7,674 shares in the last quarter. Merit Financial Group LLC increased its stake in NIKE by 26.2% during the 1st quarter. Merit Financial Group LLC now owns 10,526 shares of the footwear maker's stock worth $668,000 after buying an additional 2,187 shares during the period. RFG Advisory LLC lifted its holdings in NIKE by 11.6% in the 1st quarter. RFG Advisory LLC now owns 9,746 shares of the footwear maker's stock worth $619,000 after buying an additional 1,011 shares in the last quarter. Finally, Sentry Investment Management LLC boosted its position in NIKE by 104.4% in the 1st quarter. Sentry Investment Management LLC now owns 4,021 shares of the footwear maker's stock valued at $255,000 after buying an additional 2,054 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company's stock.

NIKE Stock Up 6.2%

NKE stock opened at $74.04 on Thursday. The firm has a market cap of $109.35 billion, a price-to-earnings ratio of 37.97, a PEG ratio of 2.60 and a beta of 1.29. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $85.23. The firm has a fifty day moving average price of $74.73 and a two-hundred day moving average price of $67.31. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating the consensus estimate of $0.27 by $0.22. The business had revenue of $11.72 billion during the quarter, compared to analyst estimates of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.05%. The company's quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.70 EPS. Research analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were issued a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. NIKE's dividend payout ratio (DPR) is 74.07%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NKE. Hsbc Global Res raised NIKE from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 27th. JPMorgan Chase & Co. upped their target price on NIKE from $93.00 to $100.00 and gave the company an "overweight" rating in a research report on Wednesday. Telsey Advisory Group reiterated a "market perform" rating and set a $75.00 target price on shares of NIKE in a research note on Wednesday. Truist Financial restated a "buy" rating and issued a $85.00 price target on shares of NIKE in a research note on Wednesday. Finally, UBS Group set a $71.00 price objective on shares of NIKE and gave the company a "neutral" rating in a research note on Friday, September 19th. Three research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $81.26.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the business's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the completion of the transaction, the chairman directly owned 842,361 shares of the company's stock, valued at $60,894,276.69. The trade was a 11.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.80% of the stock is owned by corporate insiders.

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.

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