Hartford Investment Management Co. Decreases Stock Holdings in NIKE, Inc. (NYSE:NKE)

Hartford Investment Management Co. cut its holdings in NIKE, Inc. (NYSE:NKEFree Report) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 82,480 shares of the footwear maker’s stock after selling 1,480 shares during the quarter. Hartford Investment Management Co.’s holdings in NIKE were worth $8,955,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Financial Freedom LLC purchased a new stake in NIKE during the fourth quarter worth $29,000. Iron Horse Wealth Management LLC raised its holdings in NIKE by 120.7% in the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 140 shares in the last quarter. Impact Partnership Wealth LLC lifted its position in shares of NIKE by 220.7% during the third quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock valued at $25,000 after buying an additional 181 shares during the last quarter. Planned Solutions Inc. bought a new stake in shares of NIKE in the 4th quarter valued at about $29,000. Finally, Worth Asset Management LLC purchased a new position in shares of NIKE in the 1st quarter worth approximately $32,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NYSE:NKE traded down $0.15 during trading on Wednesday, reaching $90.80. 3,991,743 shares of the company’s stock traded hands, compared to its average volume of 9,382,607. The firm has a market cap of $138.19 billion, a PE ratio of 26.75, a P/E/G ratio of 1.73 and a beta of 1.08. NIKE, Inc. has a fifty-two week low of $88.66 and a fifty-two week high of $128.68. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. The company has a 50-day simple moving average of $100.85 and a 200-day simple moving average of $103.57.

NIKE (NYSE:NKEGet Free Report) last released its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. The firm had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. As a group, analysts predict that NIKE, Inc. will post 3.71 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend was Friday, March 1st. NIKE’s dividend payout ratio is currently 43.53%.

Analyst Ratings Changes

Several equities analysts have issued reports on NKE shares. Deutsche Bank Aktiengesellschaft cut their price target on shares of NIKE from $132.00 to $128.00 and set a “buy” rating on the stock in a report on Friday, December 22nd. Piper Sandler reduced their target price on NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday, March 22nd. TheStreet cut NIKE from a “b” rating to a “c+” rating in a research note on Tuesday, January 9th. Raymond James boosted their price target on NIKE from $121.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 19th. Finally, UBS Group decreased their price objective on shares of NIKE from $138.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $116.52.

View Our Latest Stock Report on NKE

NIKE Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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