Sandhill Capital Partners LLC Decreases Position in NIKE, Inc. (NYSE:NKE)

Sandhill Capital Partners LLC cut its stake in shares of NIKE, Inc. (NYSE:NKE) by 8.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NKE. Impact Partnership Wealth LLC raised its holdings in shares of NIKE by 220.7% in the third quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock worth $25,000 after buying an additional 181 shares during the period. Iron Horse Wealth Management LLC raised its holdings in shares of NIKE by 120.7% in the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after buying an additional 140 shares during the period. Planned Solutions Inc. purchased a new stake in shares of NIKE in the fourth quarter worth approximately $29,000. Raleigh Capital Management Inc. raised its holdings in shares of NIKE by 134.2% in the third quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock worth $36,000 after buying an additional 216 shares during the period. Finally, Stephens Consulting LLC raised its holdings in shares of NIKE by 160.0% in the third quarter. Stephens Consulting LLC now owns 390 shares of the footwear maker’s stock worth $37,000 after buying an additional 240 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Stock Performance

Shares of NYSE NKE traded down $0.70 during trading on Thursday, reaching $93.94. 5,296,510 shares of the company traded hands, compared to its average volume of 9,470,656. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. NIKE, Inc. has a 12-month low of $88.66 and a 12-month high of $128.68. The firm’s fifty day simple moving average is $97.39 and its 200 day simple moving average is $103.38. The stock has a market cap of $141.79 billion, a P/E ratio of 27.84, a PEG ratio of 1.81 and a beta of 1.08.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.29. The company had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. As a group, research analysts anticipate that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date was Friday, March 1st. NIKE’s payout ratio is 43.53%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Telsey Advisory Group reduced their price target on NIKE from $140.00 to $120.00 and set an “outperform” rating on the stock in a report on Monday, March 18th. Jefferies Financial Group reduced their price objective on NIKE from $110.00 to $100.00 and set a “hold” rating on the stock in a report on Friday, March 22nd. Morgan Stanley reduced their price objective on NIKE from $124.00 to $116.00 and set an “overweight” rating on the stock in a report on Wednesday, March 27th. Truist Financial restated a “hold” rating and set a $111.00 price objective on shares of NIKE in a report on Tuesday, March 19th. Finally, Robert W. Baird reduced their price objective on NIKE from $140.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $116.26.

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.