BNC Wealth Management LLC Has $354,000 Position in NIKE, Inc. (NYSE:NKE)

BNC Wealth Management LLC lowered its holdings in shares of NIKE, Inc. (NYSE:NKE) by 10.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 4,682 shares of the footwear maker’s stock after selling 526 shares during the quarter. BNC Wealth Management LLC’s holdings in NIKE were worth $354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of NKE. Teachers Insurance & Annuity Association of America acquired a new stake in shares of NIKE in the 3rd quarter valued at $30,000. VitalStone Financial LLC raised its holdings in shares of NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after buying an additional 150 shares during the last quarter. Dunhill Financial LLC raised its holdings in shares of NIKE by 52.2% in the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after buying an additional 169 shares during the last quarter. Ecofi Investissements SA bought a new position in shares of NIKE in the second quarter valued at about $49,000. Finally, Riverview Trust Co bought a new position in shares of NIKE in the third quarter valued at about $52,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

NKE has been the subject of a number of research analyst reports. Barclays cut their price target on NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. JPMorgan Chase & Co. dropped their price objective on NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a report on Monday, December 2nd. Jefferies Financial Group upped their price target on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research note on Monday, September 30th. Deutsche Bank Aktiengesellschaft decreased 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. Finally, Stifel Nicolaus reduced their price target on NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research report on Friday, December 20th. Fourteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $89.96.

NIKE Stock Performance

Shares of NKE stock opened at $70.89 on Friday. The business’s 50-day moving average price is $75.77 and its 200-day moving average price is $77.92. NIKE, Inc. has a 12 month low of $70.32 and a 12 month high of $107.43. The firm has a market capitalization of $104.85 billion, a price-to-earnings ratio of 21.88, a PEG ratio of 2.26 and a beta of 1.02. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (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 period last year, the company earned $1.03 earnings per share. The firm’s revenue was down 7.7% compared to the same quarter last year. Equities research analysts forecast that NIKE, Inc. will post 2.1 EPS for the current year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a $0.40 dividend. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date was Monday, December 2nd. NIKE’s payout ratio is presently 49.38%.

Insiders Place Their Bets

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of the firm’s stock in a transaction dated Friday, December 27th. The stock was purchased 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 directly owns 34,403 shares in the company, valued at $2,636,989.95. The trade was a 7.84 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by corporate insiders.

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.