Bartlett & CO. Wealth Management LLC Sells 20,777 Shares of NIKE, Inc. (NYSE:NKE)

Bartlett & CO. Wealth Management LLC cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 6.4% in the 4th quarter, Holdings Channel reports. The firm owned 303,081 shares of the footwear maker’s stock after selling 20,777 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in NIKE were worth $23,058,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Teachers Insurance & Annuity Association of America acquired a new stake in NIKE in the third quarter worth $30,000. VitalStone Financial LLC lifted its stake in NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 150 shares during the last quarter. Dunhill Financial LLC lifted its holdings in NIKE by 52.2% during the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after purchasing an additional 169 shares during the last quarter. Riverview Trust Co bought a new position in NIKE in the 3rd quarter worth approximately $52,000. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of NIKE during the 3rd quarter valued at $54,000. 64.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NKE has been the subject of several recent analyst reports. Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $72.00 to $90.00 in a report on Friday, January 10th. JPMorgan Chase & Co. cut their target price on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a report on Monday, December 2nd. Wells Fargo & Company cut their price objective on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research report on Monday, December 16th. Robert W. Baird cut their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. Finally, Telsey Advisory Group lowered shares of NIKE from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $93.00 to $80.00 in a research note on Friday, December 20th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $89.96.

Insider Buying and Selling at NIKE

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the transaction, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is currently owned by insiders.

NIKE Price Performance

Shares of NYSE:NKE opened at $74.07 on Thursday. NIKE, Inc. has a 12 month low of $70.32 and a 12 month high of $107.43. The firm has a market capitalization of $109.56 billion, a price-to-earnings ratio of 22.86, a price-to-earnings-growth ratio of 2.33 and a beta of 1.02. The business’s 50 day simple moving average is $75.59 and its 200-day simple moving average is $77.91. 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 (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter last year, the firm earned $1.03 earnings per share. The business’s revenue was down 7.7% on a year-over-year basis. As a group, equities analysts forecast that NIKE, Inc. will post 2.1 earnings per share for the current fiscal year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.16%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, December 2nd. NIKE’s dividend payout ratio is presently 49.38%.

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.