Coho Partners Ltd. Decreases Stake in NIKE, Inc. (NYSE:NKE)

Coho Partners Ltd. cut its position in shares of NIKE, Inc. (NYSE:NKE) by 96.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,385 shares of the footwear maker’s stock after selling 840,230 shares during the period. Coho Partners Ltd.’s holdings in NIKE were worth $2,072,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Teachers Insurance & Annuity Association of America purchased a new position in NIKE during the third quarter worth about $30,000. Caitlin John LLC increased its position in shares of NIKE by 117.0% during the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 200 shares during the last quarter. Heck Capital Advisors LLC acquired a new stake in shares of NIKE during the fourth quarter valued at about $28,000. Dunhill Financial LLC increased its position in shares of 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 acquiring an additional 169 shares during the last quarter. Finally, Riverview Trust Co acquired a new stake in shares of NIKE during the third quarter valued at about $52,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Up 1.4 %

NKE stock opened at $73.25 on Friday. The company has a fifty day moving average price of $74.68 and a 200 day moving average price of $78.04. NIKE, Inc. has a 12 month low of $68.62 and a 12 month high of $107.34. The company has a market cap of $108.35 billion, a price-to-earnings ratio of 22.61, a price-to-earnings-growth ratio of 2.34 and a beta of 1.01. 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 announced its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.15. The company had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. NIKE’s revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.03 EPS. Sell-side analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.18%. NIKE’s dividend payout ratio is currently 49.38%.

Insider Buying and Selling at NIKE

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

Wall Street Analysts Forecast Growth

NKE has been the subject of a number of recent analyst reports. Piper Sandler upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $72.00 to $90.00 in a research report on Friday, January 10th. Royal Bank of Canada dropped their price objective on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a report on Thursday, November 7th. BMO Capital Markets lifted their price objective on shares of NIKE from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a report on Monday, December 16th. Finally, Bank of America dropped their price objective on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. Fifteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $88.62.

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.