Western Wealth Management LLC Sells 1,149 Shares of NIKE, Inc. (NYSE:NKE)

Western Wealth Management LLC lessened its stake in NIKE, Inc. (NYSE:NKE) by 6.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 16,204 shares of the footwear maker’s stock after selling 1,149 shares during the period. Western Wealth Management LLC’s holdings in NIKE were worth $1,759,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Morgan Stanley raised its position in shares of NIKE by 26.4% during the 4th quarter. Morgan Stanley now owns 30,720,119 shares of the footwear maker’s stock valued at $3,594,561,000 after acquiring an additional 6,410,744 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of NIKE by 7.2% during the 2nd quarter. Alliancebernstein L.P. now owns 22,371,886 shares of the footwear maker’s stock valued at $2,469,185,000 after acquiring an additional 1,493,704 shares during the last quarter. FMR LLC raised its position in shares of NIKE by 0.7% during the 3rd quarter. FMR LLC now owns 18,502,409 shares of the footwear maker’s stock valued at $1,769,200,000 after acquiring an additional 125,746 shares during the last quarter. Moneta Group Investment Advisors LLC raised its position in shares of NIKE by 139,649.9% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 16,813,307 shares of the footwear maker’s stock valued at $1,967,325,000 after acquiring an additional 16,801,276 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of NIKE by 4.5% during the 3rd quarter. Northern Trust Corp now owns 15,557,676 shares of the footwear maker’s stock valued at $1,487,625,000 after acquiring an additional 674,198 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. JPMorgan Chase & Co. dropped their target price on shares of NIKE from $139.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, December 22nd. Telsey Advisory Group dropped their target price on shares of NIKE from $140.00 to $120.00 and set an “outperform” rating for the company in a research report on Monday, March 18th. Bank of America raised shares of NIKE from a “neutral” rating to a “buy” rating and boosted their price target for the company from $110.00 to $113.00 in a report on Thursday, April 11th. Royal Bank of Canada reissued a “sector perform” rating and issued a $100.00 price target (down previously from $110.00) on shares of NIKE in a report on Friday, March 22nd. Finally, Piper Sandler decreased their price target on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a report on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $116.26.

NIKE Stock Performance

Shares of NKE traded up $0.17 during mid-day trading on Friday, hitting $95.91. 1,953,977 shares of the company’s stock were exchanged, compared to its average volume of 9,485,518. NIKE, Inc. has a 52 week low of $88.66 and a 52 week high of $128.68. The stock’s 50-day simple moving average is $98.31 and its 200-day simple moving average is $103.37. The firm has a market cap of $144.76 billion, a price-to-earnings ratio of 28.05, a price-to-earnings-growth ratio of 1.83 and a beta of 1.08. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, topping the consensus estimate of $0.69 by $0.29. The company 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%. On average, equities research analysts expect that NIKE, Inc. will post 3.73 EPS for the current year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.54%. NIKE’s payout ratio is presently 43.53%.

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.