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

Western Wealth Management LLC lowered its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 46.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 11,792 shares of the footwear maker's stock after selling 10,044 shares during the quarter. Western Wealth Management LLC's holdings in NIKE were worth $892,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in NKE. Caitlin John LLC boosted its position in shares of NIKE by 117.0% in the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker's stock valued at $28,000 after purchasing an additional 200 shares during the period. Heck Capital Advisors LLC acquired a new stake in shares of NIKE in the 4th quarter valued at about $28,000. Roxbury Financial LLC acquired a new stake in shares of NIKE in the 4th quarter valued at about $30,000. LFA Lugano Financial Advisors SA lifted its position in NIKE by 110.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock worth $30,000 after acquiring an additional 210 shares during the period. Finally, Hopwood Financial Services Inc. acquired a new stake in NIKE during the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 64.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on NKE shares. Williams Trading decreased their price objective on NIKE from $93.00 to $73.00 and set a "buy" rating for the company in a research report on Monday, April 21st. Piper Sandler decreased their price objective on NIKE from $90.00 to $70.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. Cfra Research raised NIKE to a "moderate buy" rating in a research report on Friday, March 21st. Royal Bank of Canada decreased their price objective on NIKE from $66.00 to $65.00 and set a "sector perform" rating for the company in a research report on Tuesday, May 20th. Finally, Wells Fargo & Company increased their price objective on NIKE from $55.00 to $60.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 14th. Seventeen analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $80.26.

NIKE Stock Up 4.6%

NYSE NKE traded up $2.76 on Tuesday, hitting $62.78. 16,620,607 shares of the stock traded hands, compared to its average volume of 14,978,926. The company has a market capitalization of $92.86 billion, a P/E ratio of 19.38, a price-to-earnings-growth ratio of 2.52 and a beta of 1.23. The stock has a 50-day moving average of $59.63 and a 200 day moving average of $70.00. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $98.04. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. During the same period in the prior year, the company posted $0.98 EPS. The business's revenue for the quarter was down 9.1% compared to the same quarter last year. As a group, analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

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 $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date is Monday, June 2nd. NIKE's dividend payout ratio (DPR) is 53.16%.

Insider Buying and Selling

In other news, Director Robert Holmes Swan bought 8,600 shares of the business's stock in a transaction on Friday, April 4th. The stock was purchased at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the transaction, the director now directly owns 31,983 shares of the company's stock, valued at approximately $1,869,726.18. This trade represents a 36.78% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.10% of the company's stock.

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.