Bartlett & CO. Wealth Management LLC Cuts Stock Position in NIKE, Inc. (NYSE:NKE)

Bartlett & CO. Wealth Management LLC decreased its stake in shares of NIKE, Inc. (NYSE:NKE) by 6.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 303,081 shares of the footwear maker’s stock after selling 20,777 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in NIKE were worth $23,058,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp raised its position in NIKE by 3.3% in the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock worth $5,140,796,000 after purchasing an additional 1,862,021 shares during the period. Wellington Management Group LLP raised its holdings in shares of NIKE by 5.1% in the 3rd quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock valued at $2,425,886,000 after purchasing an additional 1,343,093 shares in the last quarter. Geode Capital Management LLC lifted its holdings in NIKE by 1.0% during the third quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock worth $2,204,451,000 after buying an additional 251,411 shares during the period. Legal & General Group Plc boosted its position in NIKE by 5.5% during the second quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock valued at $832,785,000 after purchasing an additional 571,544 shares in the last quarter. Finally, Fisher Asset Management LLC grew its position in shares of NIKE by 6.0% in the 3rd quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock worth $910,801,000 after buying an additional 583,207 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Trading Up 1.2 %

Shares of NKE stock opened at $74.07 on Thursday. NIKE, Inc. has a 12 month low of $70.32 and a 12 month high of $107.43. The business’s 50 day moving average is $75.59 and its two-hundred day moving average is $77.91. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The company has a market cap of $109.56 billion, a PE ratio of 22.86, a price-to-earnings-growth ratio of 2.33 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company 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 EPS. The company’s quarterly revenue was down 7.7% on a year-over-year basis. Equities analysts predict that NIKE, Inc. will post 2.1 EPS for the current year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.16%. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, December 2nd. NIKE’s payout ratio is 49.38%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NKE. Jefferies Financial Group raised their price target on NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Monday, September 30th. DA Davidson raised NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Telsey Advisory Group lowered NIKE from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $93.00 to $80.00 in a report on Friday, December 20th. Wells Fargo & Company decreased their price target on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research note on Monday, December 16th. Finally, Barclays cut their target price on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Fourteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $89.96.

Insiders Place Their Bets

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of NIKE stock in a transaction that occurred on Friday, December 27th. The stock was acquired at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the acquisition, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.10% of the company’s stock.

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.