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

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

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Fort Washington Investment Advisors Inc. OH boosted its stake in shares of NIKE by 9.5% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 358,997 shares of the footwear maker's stock valued at $27,165,000 after purchasing an additional 31,111 shares in the last quarter. XML Financial LLC increased its position in NIKE by 11.5% during the 4th quarter. XML Financial LLC now owns 2,991 shares of the footwear maker's stock valued at $226,000 after buying an additional 309 shares in the last quarter. Evolution Wealth Advisors LLC raised its position in shares of NIKE by 57.0% in the 4th quarter. Evolution Wealth Advisors LLC now owns 4,132 shares of the footwear maker's stock worth $313,000 after purchasing an additional 1,500 shares during the last quarter. SG Americas Securities LLC raised its holdings in NIKE by 107.3% in the fourth quarter. SG Americas Securities LLC now owns 22,082 shares of the footwear maker's stock worth $1,671,000 after buying an additional 322,969 shares during the last quarter. Finally, Lake Hills Wealth Management LLC lifted its position in NIKE by 32.8% in the 4th quarter. Lake Hills Wealth Management LLC now owns 3,433 shares of the footwear maker's stock valued at $260,000 after acquiring an additional 847 shares in the last quarter. Institutional investors own 64.25% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NKE. Truist Financial decreased their target price on shares of NIKE from $90.00 to $82.00 and set a "buy" rating for the company in a research note on Friday, March 21st. Dbs Bank upgraded NIKE from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Royal Bank of Canada lowered their price target on NIKE from $66.00 to $65.00 and set a "sector perform" rating on the stock in a report on Tuesday, May 20th. Berenberg Bank began coverage on NIKE in a report on Tuesday, April 15th. They issued a "hold" rating and a $58.00 target price on the stock. Finally, BMO Capital Markets decreased their target price on shares of NIKE from $95.00 to $92.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. Seventeen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $80.26.

Insider Activity at NIKE

In other news, Director Robert Holmes Swan bought 8,600 shares of the business's stock in a transaction dated Friday, April 4th. The stock was purchased at an average cost of $58.46 per share, with a total value of $502,756.00. Following the acquisition, the director now directly owns 31,983 shares in the company, valued at $1,869,726.18. This trade represents a 36.78% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.10% of the stock is owned by insiders.

NIKE Stock Down 1.4%

NKE stock traded down $0.88 during trading on Wednesday, reaching $61.96. 5,212,342 shares of the company traded hands, compared to its average volume of 14,941,131. The company has a market capitalization of $91.64 billion, a price-to-earnings ratio of 19.11, a price-to-earnings-growth ratio of 2.52 and a beta of 1.23. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The business has a 50 day simple moving average of $59.45 and a 200 day simple moving average of $69.95. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $98.04.

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

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.60 annualized dividend and a yield of 2.58%. NIKE's payout ratio is presently 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.