Cerity Partners LLC Reduces Position in NIKE, Inc. (NYSE:NKE)

Cerity Partners LLC decreased its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 11.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 364,069 shares of the footwear maker's stock after selling 45,637 shares during the quarter. Cerity Partners LLC's holdings in NIKE were worth $28,442,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in NKE. Caitlin John LLC raised its position in shares of NIKE by 117.0% during the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker's stock valued at $28,000 after buying an additional 200 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in shares of NIKE during the fourth quarter worth about $28,000. Roxbury Financial LLC bought a new stake in shares of NIKE in the 4th quarter worth approximately $30,000. LFA Lugano Financial Advisors SA increased its position in NIKE by 110.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock valued at $30,000 after purchasing an additional 210 shares during the period. Finally, Hopwood Financial Services Inc. purchased a new position in shares of NIKE during the fourth quarter valued at about $30,000. Hedge funds and other institutional investors own 64.25% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on NKE shares. Morgan Stanley decreased their price objective on NIKE from $72.00 to $70.00 and set an "equal weight" rating for the company in a report on Friday, March 21st. Robert W. Baird lowered their target price on shares of NIKE from $105.00 to $99.00 and set an "outperform" rating on the stock in a research note on Friday, March 21st. Truist Financial dropped their price target on NIKE from $90.00 to $82.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Bank of America cut their target price on shares of NIKE from $95.00 to $90.00 and set a "buy" rating for the company in a research report on Friday, December 20th. Finally, Citigroup cut NIKE from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $102.00 to $72.00 in a research report on Friday, February 7th. Fifteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $86.19.

NIKE Trading Up 0.1 %

Shares of NIKE stock traded up $0.04 during trading on Friday, hitting $54.44. The stock had a trading volume of 22,585,735 shares, compared to its average volume of 14,036,479. 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, Inc. has a 12 month low of $52.28 and a 12 month high of $98.04. The stock has a market cap of $80.52 billion, a PE ratio of 16.80, a PEG ratio of 2.52 and a beta of 1.15. The firm's fifty day simple moving average is $70.03 and its 200-day simple moving average is $74.83.

NIKE (NYSE:NKE - Get Free Report) last released its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.26. The business had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business's revenue was down 9.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.98 earnings per share. As a group, sell-side analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend was Monday, March 3rd. NIKE's dividend payout ratio (DPR) is presently 53.16%.

Insider Buying and Selling

In other news, Director Robert Holmes Swan purchased 8,600 shares of the business's stock in a transaction on Friday, April 4th. The shares were acquired at an average cost of $58.46 per share, with a total value of $502,756.00. Following the completion of the acquisition, the director now owns 31,983 shares of the company's stock, valued at $1,869,726.18. This trade represents a 36.78 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the business's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the transaction, the chairman now owns 896,632 shares in the company, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

NIKE 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.