NIKE, Inc. (NYSE:NKE) Shares Sold by Coho Partners Ltd.

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

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Asset Planning Inc acquired a new stake in NIKE in the 4th quarter valued at about $56,000. V Square Quantitative Management LLC lifted its holdings in NIKE by 7.7% in the 4th quarter. V Square Quantitative Management LLC now owns 29,183 shares of the footwear maker’s stock valued at $2,208,000 after purchasing an additional 2,077 shares in the last quarter. CFC Planning Co LLC purchased a new position in NIKE in the 4th quarter valued at about $3,913,000. Rooted Wealth Advisors Inc. purchased a new position in NIKE in the 4th quarter valued at about $212,000. Finally, Catalyst Financial Partners LLC lifted its holdings in NIKE by 12.5% in the 4th quarter. Catalyst Financial Partners LLC now owns 3,665 shares of the footwear maker’s stock valued at $277,000 after purchasing an additional 407 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at NIKE

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of the firm’s stock in a transaction dated Friday, December 27th. The stock was acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the transaction, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company’s stock.

NIKE Stock Up 1.4 %

Shares of NYSE:NKE opened at $73.25 on Friday. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 52-week low of $68.62 and a 52-week high of $107.34. The company has a 50 day moving average of $74.68 and a two-hundred day moving average of $78.04. The company has a market capitalization 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.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same quarter last year, the company earned $1.03 earnings per share. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. As a group, analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.18%. NIKE’s payout ratio is currently 49.38%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. UBS Group restated a “neutral” rating and issued a $73.00 target price on shares of NIKE in a report on Thursday, December 26th. Citigroup lowered shares of NIKE from a “buy” rating to a “neutral” rating and reduced their target price for the company from $102.00 to $72.00 in a report on Friday, February 7th. TD Cowen reduced their target price on shares of NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, November 18th. Guggenheim reiterated a “buy” rating and set a $110.00 price objective on shares of NIKE in a report on Wednesday. Finally, Truist Financial cut their price objective on shares of NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Fifteen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $88.62.

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.