Bartlett & CO. Wealth Management LLC Sells 52,282 Shares of NIKE, Inc. (NYSE:NKE)

Bartlett & CO. Wealth Management LLC lessened its holdings in shares of NIKE, Inc. (NYSE:NKE) by 13.9% during the 3rd quarter, Holdings Channel reports. The firm owned 323,858 shares of the footwear maker’s stock after selling 52,282 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in NIKE were worth $28,749,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Annapolis Financial Services LLC raised its stake in NIKE by 440.0% during the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after purchasing an additional 220 shares during the period. Transcendent Capital Group LLC increased its stake in NIKE by 97.6% in the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after acquiring an additional 200 shares during the last quarter. VitalStone Financial LLC increased its stake in NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after acquiring an additional 150 shares during the last quarter. Bruce G. Allen Investments LLC increased its stake in NIKE by 272.5% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after acquiring an additional 376 shares during the last quarter. Finally, Triad Wealth Partners LLC bought a new stake in NIKE in the 2nd quarter worth approximately $44,000. Institutional investors own 64.25% of the company’s stock.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on NKE shares. HSBC reduced their price objective on NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, June 28th. Wells Fargo & Company lifted their price objective on NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Wedbush reduced their price objective on NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. Oppenheimer reissued an “outperform” rating and set a $120.00 target price on shares of NIKE in a research report on Friday, June 28th. Finally, Sanford C. Bernstein cut their target price on NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research report on Thursday, September 19th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $96.56.

NIKE Trading Down 0.6 %

NKE opened at $82.92 on Friday. The firm has a market cap of $125.16 billion, a price-to-earnings ratio of 22.23, a PEG ratio of 1.96 and a beta of 1.02. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The stock has a fifty day moving average price of $82.64 and a 200-day moving average price of $85.32.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping the consensus estimate of $0.52 by $0.18. The firm had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.94 EPS. As a group, equities research analysts anticipate that NIKE, Inc. will post 2.8 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.78%. The ex-dividend date was Tuesday, September 3rd. NIKE’s payout ratio is 39.68%.

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.