Sandhill Capital Partners LLC Sells 3,151 Shares of NIKE, Inc. (NYSE:NKE)

Sandhill Capital Partners LLC lessened its stake in NIKE, Inc. (NYSE:NKE) by 8.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 34,749 shares of the footwear maker’s stock after selling 3,151 shares during the period. Sandhill Capital Partners LLC’s holdings in NIKE were worth $3,773,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Stevens Capital Management LP bought a new stake in shares of NIKE in the 4th quarter valued at about $5,330,000. Abbrea Capital LLC grew its stake in NIKE by 0.7% during the fourth quarter. Abbrea Capital LLC now owns 35,877 shares of the footwear maker’s stock worth $3,908,000 after purchasing an additional 240 shares during the period. Syon Capital LLC increased its holdings in NIKE by 28.1% in the fourth quarter. Syon Capital LLC now owns 5,841 shares of the footwear maker’s stock worth $634,000 after purchasing an additional 1,283 shares in the last quarter. Pittenger & Anderson Inc. boosted its holdings in shares of NIKE by 3.9% during the 4th quarter. Pittenger & Anderson Inc. now owns 87,206 shares of the footwear maker’s stock worth $9,468,000 after buying an additional 3,297 shares in the last quarter. Finally, Lyell Wealth Management LP increased its stake in shares of NIKE by 1.2% in the 4th quarter. Lyell Wealth Management LP now owns 87,588 shares of the footwear maker’s stock valued at $9,509,000 after acquiring an additional 1,000 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

NYSE NKE traded down $0.70 during trading on Thursday, reaching $93.94. The company’s stock had a trading volume of 5,296,510 shares, compared to its average volume of 9,470,656. The stock has a market capitalization of $141.79 billion, a PE ratio of 27.84, a P/E/G ratio of 1.81 and a beta of 1.08. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. The firm has a fifty day moving average of $97.39 and a 200 day moving average of $103.38. NIKE, Inc. has a one year low of $88.66 and a one year high of $128.68.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.29. The business had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. Analysts expect that NIKE, Inc. will post 3.73 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.48 annualized dividend and a dividend yield of 1.58%. NIKE’s dividend payout ratio (DPR) is presently 43.53%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on NKE shares. Williams Trading reaffirmed a “sell” rating and issued a $85.00 price target (down from $92.00) on shares of NIKE in a research note on Monday, March 18th. Truist Financial restated a “hold” rating and set a $111.00 price objective on shares of NIKE in a report on Tuesday, March 19th. Royal Bank of Canada restated a “sector perform” rating and set a $100.00 price objective (down previously from $110.00) on shares of NIKE in a report on Friday, March 22nd. Wedbush restated an “outperform” rating and set a $115.00 price objective on shares of NIKE in a report on Wednesday, March 27th. Finally, Citigroup decreased their price target on NIKE from $135.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, March 14th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $116.26.

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.