Quotient Wealth Partners LLC Trims Stock Holdings in NIKE, Inc. (NYSE:NKE)

Quotient Wealth Partners LLC lowered its position in shares of NIKE, Inc. (NYSE:NKE) by 26.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,718 shares of the footwear maker’s stock after selling 4,235 shares during the quarter. Quotient Wealth Partners LLC’s holdings in NIKE were worth $1,036,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cim LLC acquired a new position in NIKE in the 4th quarter worth $14,275,000. TKG Advisors LLC bought a new stake in shares of NIKE during the 4th quarter worth about $1,012,000. Spartan Planning & Wealth Management acquired a new stake in shares of NIKE in the 4th quarter worth approximately $182,000. Advisors Asset Management Inc. boosted its holdings in shares of NIKE by 86.0% in the first quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock valued at $1,970,000 after acquiring an additional 9,689 shares in the last quarter. Finally, FORA Capital LLC bought a new position in NIKE during the 1st quarter valued at $3,412,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

NKE has been the subject of a number of recent research reports. Jefferies Financial Group increased their price objective on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Monday, September 30th. Robert W. Baird raised their target price on shares of NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. JPMorgan Chase & Co. cut their price target on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Piper Sandler reiterated a “neutral” rating and set a $80.00 price objective on shares of NIKE in a research report on Friday, September 20th. Finally, Daiwa America lowered NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Fourteen analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $96.56.

NIKE Price Performance

NKE stock traded down $0.07 during midday trading on Thursday, reaching $82.38. The company had a trading volume of 4,149,002 shares, compared to its average volume of 11,742,635. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The company has a market capitalization of $124.34 billion, a price-to-earnings ratio of 22.06, a price-to-earnings-growth ratio of 2.30 and a beta of 1.02. The stock has a 50 day moving average price of $81.33 and a 200-day moving average price of $85.79.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.18. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The company had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter in the prior year, the firm posted $0.94 earnings per share. The firm’s revenue was down 10.4% compared to the same quarter last year. Equities research analysts expect that NIKE, Inc. will post 3.04 earnings per share for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date was Tuesday, September 3rd. NIKE’s payout ratio is currently 39.68%.

Insider Activity

In related news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

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.