Bartlett & CO. Wealth Management LLC Cuts Stock Holdings in NIKE, Inc. (NYSE:NKE)

Bartlett & CO. Wealth Management LLC trimmed its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 17.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 250,259 shares of the footwear maker's stock after selling 52,822 shares during the quarter. Bartlett & CO. Wealth Management LLC's holdings in NIKE were worth $16,006,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Illinois Municipal Retirement Fund raised its position in NIKE by 3.5% in the first quarter. Illinois Municipal Retirement Fund now owns 154,829 shares of the footwear maker's stock worth $9,829,000 after acquiring an additional 5,185 shares during the period. Transcend Capital Advisors LLC increased its stake in shares of NIKE by 48.0% in the 1st quarter. Transcend Capital Advisors LLC now owns 31,216 shares of the footwear maker's stock worth $1,982,000 after purchasing an additional 10,118 shares in the last quarter. Park Place Capital Corp raised its holdings in NIKE by 17.3% in the 1st quarter. Park Place Capital Corp now owns 1,405 shares of the footwear maker's stock worth $89,000 after purchasing an additional 207 shares during the period. Beacon Financial Advisory LLC bought a new position in NIKE in the 1st quarter worth $246,000. Finally, Perpetual Ltd lifted its position in NIKE by 18.7% during the first quarter. Perpetual Ltd now owns 16,536 shares of the footwear maker's stock valued at $1,050,000 after purchasing an additional 2,603 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NKE has been the subject of a number of analyst reports. Truist Financial reduced their price target on NIKE from $82.00 to $73.00 and set a "buy" rating for the company in a research report on Tuesday. Jefferies Financial Group reissued a "buy" rating on shares of NIKE in a report on Friday, May 23rd. Berenberg Bank started coverage on shares of NIKE in a research note on Tuesday, April 15th. They set a "hold" rating and a $58.00 target price on the stock. BMO Capital Markets dropped their price target on shares of NIKE from $95.00 to $92.00 and set an "outperform" rating for the company in a research report on Friday, March 21st. Finally, Evercore ISI reduced their price objective on shares of NIKE from $97.00 to $75.00 and set an "outperform" rating for the company in a research note on Tuesday. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $79.33.

Insider Buying and Selling at NIKE

In related news, Director Robert Holmes Swan purchased 8,600 shares of the firm's stock in a transaction dated Friday, April 4th. The stock was purchased at an average price of $58.46 per share, with a total value of $502,756.00. Following the completion of the purchase, the director now owns 31,983 shares of the company's stock, valued at approximately $1,869,726.18. The trade was a 36.78% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 1.10% of the stock is currently owned by corporate insiders.

NIKE Trading Up 15.3%

Shares of NKE stock traded up $9.55 during trading hours on Friday, reaching $72.09. 117,428,527 shares of the stock were exchanged, compared to its average volume of 15,843,353. The company has a current ratio of 2.19, a quick ratio of 1.52 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $94.74. The firm has a market capitalization of $106.63 billion, a price-to-earnings ratio of 23.95, a price-to-earnings-growth ratio of 2.23 and a beta of 1.21. The company's 50-day moving average price is $60.31 and its 200-day moving average price is $67.63.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. NIKE had a return on equity of 32.18% and a net margin of 9.43%. The business had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.69 billion. During the same quarter in the previous year, the business earned $0.99 earnings per share. The company's revenue for the quarter was down 11.9% compared to the same quarter last year. As a group, equities analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE's payout ratio is currently 53.16%.

About NIKE

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.