NIKE, Inc. (NYSE:NKE) Shares Sold by HB Wealth Management LLC

HB Wealth Management LLC lessened its stake in shares of NIKE, Inc. (NYSE:NKE) by 41.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,083 shares of the footwear maker’s stock after selling 30,275 shares during the quarter. HB Wealth Management LLC’s holdings in NIKE were worth $3,184,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Premier Path Wealth Partners LLC increased its position in NIKE by 5.8% during the 4th quarter. Premier Path Wealth Partners LLC now owns 21,738 shares of the footwear maker’s stock worth $1,645,000 after purchasing an additional 1,201 shares in the last quarter. Sanibel Captiva Trust Company Inc. increased its position in NIKE by 5.7% during the 4th quarter. Sanibel Captiva Trust Company Inc. now owns 150,864 shares of the footwear maker’s stock worth $11,416,000 after purchasing an additional 8,102 shares in the last quarter. Alhambra Investment Management LLC increased its position in NIKE by 63.4% during the 4th quarter. Alhambra Investment Management LLC now owns 4,852 shares of the footwear maker’s stock worth $367,000 after purchasing an additional 1,882 shares in the last quarter. Verity & Verity LLC purchased a new stake in NIKE during the 4th quarter worth about $429,000. Finally, Arkadios Wealth Advisors increased its position in NIKE by 7.6% during the 4th quarter. Arkadios Wealth Advisors now owns 22,403 shares of the footwear maker’s stock worth $1,695,000 after purchasing an additional 1,587 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Activity

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of the stock in a transaction dated Friday, December 27th. The stock was acquired at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the acquisition, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.10% of the company’s stock.

NIKE Price Performance

NKE stock opened at $70.89 on Monday. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 52-week low of $70.32 and a 52-week high of $107.43. The stock’s 50 day moving average is $75.77 and its two-hundred day moving average is $77.94. The company has a market capitalization of $104.85 billion, a PE ratio of 21.88, a P/E/G ratio of 2.26 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $12.11 billion. During the same period in the previous year, the business earned $1.03 EPS. NIKE’s revenue for the quarter was down 7.7% compared to the same quarter last year. Analysts predict that NIKE, Inc. will post 2.1 earnings per share for the current fiscal year.

NIKE Increases Dividend

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on NKE shares. UBS Group reiterated a “neutral” rating and set a $73.00 price objective on shares of NIKE in a research report on Thursday, December 26th. Needham & Company LLC reissued a “buy” rating and issued a $84.00 price target on shares of NIKE in a research note on Friday, December 20th. Bank of America decreased their price target on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Stifel Nicolaus decreased their price target on NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research note on Friday, December 20th. Finally, TD Cowen decreased their price target on NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research note on Monday, November 18th. Fourteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $89.96.

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.