CFM Wealth Partners LLC Sells 2,884 Shares of NIKE, Inc. (NYSE:NKE)

CFM Wealth Partners LLC lessened its stake in shares of NIKE, Inc. (NYSE:NKE) by 39.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,348 shares of the footwear maker’s stock after selling 2,884 shares during the quarter. CFM Wealth Partners LLC’s holdings in NIKE were worth $329,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Heck Capital Advisors LLC bought a new position in shares of NIKE during the 4th quarter worth approximately $28,000. Teachers Insurance & Annuity Association of America bought a new position in NIKE in the 3rd quarter valued at $30,000. VitalStone Financial LLC raised its position in NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 150 shares during the last quarter. Dunhill Financial LLC raised its position in NIKE by 52.2% in the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after purchasing an additional 169 shares during the last quarter. Finally, Riverview Trust Co bought a new position in NIKE in the 3rd quarter valued at $52,000. Institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

NIKE stock opened at $76.82 on Monday. NIKE, Inc. has a 52 week low of $70.32 and a 52 week high of $107.43. The company’s 50 day moving average price is $75.60 and its two-hundred day moving average price is $78.03. 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 stock has a market cap of $113.62 billion, a P/E ratio of 23.71, a P/E/G ratio of 2.50 and a beta of 1.01.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter last year, the firm earned $1.03 EPS. The company’s quarterly revenue was down 7.7% compared to the same quarter last year. On average, equities analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend was Monday, December 2nd. This is a boost from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is 49.38%.

Insider Buying and Selling

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the stock in a transaction on Friday, December 27th. The shares were acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the acquisition, the director now directly owns 34,403 shares of the company’s stock, valued at $2,636,989.95. The trade was a 7.84 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

NKE has been the subject of several research analyst reports. Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $72.00 to $90.00 in a research report on Friday, January 10th. Deutsche Bank Aktiengesellschaft cut their price objective on NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research report on Monday, December 16th. JPMorgan Chase & Co. cut their price objective on NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research report on Monday, December 2nd. Robert W. Baird dropped their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. Finally, Morgan Stanley dropped their target price on NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $89.96.

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.