Williams Jones Wealth Management LLC. Reduces Stock Holdings in NIKE, Inc. (NYSE:NKE)

Williams Jones Wealth Management LLC. cut its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 42.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 121,999 shares of the footwear maker's stock after selling 90,597 shares during the period. Williams Jones Wealth Management LLC.'s holdings in NIKE were worth $9,232,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in NKE. Park Avenue Securities LLC raised its position in shares of NIKE by 38.1% during the 4th quarter. Park Avenue Securities LLC now owns 14,899 shares of the footwear maker's stock worth $1,127,000 after purchasing an additional 4,107 shares during the last quarter. Aaron Wealth Advisors LLC increased its position in NIKE by 12.4% during the fourth quarter. Aaron Wealth Advisors LLC now owns 4,474 shares of the footwear maker's stock worth $339,000 after buying an additional 492 shares in the last quarter. Clarius Group LLC raised its holdings in shares of NIKE by 6.0% in the fourth quarter. Clarius Group LLC now owns 8,054 shares of the footwear maker's stock worth $609,000 after acquiring an additional 457 shares during the last quarter. Grove Bank & Trust raised its holdings in shares of NIKE by 3.9% in the fourth quarter. Grove Bank & Trust now owns 4,310 shares of the footwear maker's stock worth $326,000 after acquiring an additional 163 shares during the last quarter. Finally, Ellsworth Advisors LLC lifted its position in shares of NIKE by 55.1% in the fourth quarter. Ellsworth Advisors LLC now owns 29,729 shares of the footwear maker's stock valued at $2,250,000 after acquiring an additional 10,567 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NKE has been the subject of a number of recent research reports. Morgan Stanley dropped their price objective on NIKE from $72.00 to $70.00 and set an "equal weight" rating for the company in a research report on Friday, March 21st. The Goldman Sachs Group cut their price objective on shares of NIKE from $88.00 to $72.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Piper Sandler decreased their target price on shares of NIKE from $90.00 to $70.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. Cfra Research raised shares of NIKE to a "moderate buy" rating in a research note on Friday, March 21st. Finally, Guggenheim reissued a "buy" rating and set a $110.00 price target on shares of NIKE in a research note on Wednesday, February 12th. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $80.30.

NIKE Price Performance

Shares of NYSE NKE opened at $62.03 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $98.04. The company has a market capitalization of $91.75 billion, a price-to-earnings ratio of 19.15, a PEG ratio of 2.52 and a beta of 1.23. The business has a 50-day moving average of $60.84 and a 200-day moving average of $70.54.

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

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be paid a $0.40 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.58%. NIKE's dividend payout ratio (DPR) is presently 53.16%.

Insider Activity at NIKE

In other NIKE news, Director Robert Holmes Swan acquired 8,600 shares of the stock in a transaction on Friday, April 4th. The stock was purchased at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the purchase, 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 document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.10% of the company's stock.

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.

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