Robertson Stephens Wealth Management LLC Reduces Position in NIKE, Inc. (NYSE:NKE)

Robertson Stephens Wealth Management LLC cut its position in shares of NIKE, Inc. (NYSE:NKE) by 33.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 6,056 shares of the footwear maker’s stock after selling 2,986 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in NIKE were worth $461,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Hexagon Capital Partners LLC lifted its holdings in NIKE by 35.4% during the 3rd quarter. Hexagon Capital Partners LLC now owns 3,196 shares of the footwear maker’s stock valued at $283,000 after buying an additional 835 shares in the last quarter. Agate Pass Investment Management LLC lifted its holdings in NIKE by 53.2% during the 3rd quarter. Agate Pass Investment Management LLC now owns 18,295 shares of the footwear maker’s stock valued at $1,617,000 after buying an additional 6,356 shares in the last quarter. Private Advisory Group LLC lifted its holdings in NIKE by 2.1% during the 3rd quarter. Private Advisory Group LLC now owns 11,671 shares of the footwear maker’s stock valued at $1,032,000 after buying an additional 244 shares in the last quarter. San Luis Wealth Advisors LLC bought a new stake in NIKE during the 3rd quarter valued at about $201,000. Finally, DLK Investment Management LLC lifted its holdings in NIKE by 5.9% during the 3rd quarter. DLK Investment Management LLC now owns 50,365 shares of the footwear maker’s stock valued at $4,452,000 after buying an additional 2,806 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NKE. Wells Fargo & Company decreased their price objective on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a report on Monday, December 16th. TD Cowen reduced their price target on shares of NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a report on Monday, November 18th. Citigroup lowered shares of NIKE from a “buy” rating to a “neutral” rating and reduced their price target for the company from $102.00 to $72.00 in a report on Friday. Stifel Nicolaus reduced their price target on shares of NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a report on Friday, December 20th. Finally, Evercore ISI reduced their price target on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Fifteen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, NIKE has an average rating of “Moderate Buy” and a consensus price target of $88.62.

Insiders Place Their Bets

In other NIKE news, Director John W. Rogers, Jr. acquired 2,500 shares of the business’s stock in a transaction dated Friday, December 27th. The shares were purchased at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is owned by insiders.

NIKE Stock Down 4.3 %

NYSE:NKE opened at $68.69 on Friday. The company has a market cap of $101.60 billion, a PE ratio of 21.20, a P/E/G ratio of 2.50 and a beta of 1.01. NIKE, Inc. has a twelve month low of $68.62 and a twelve month high of $107.43. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The company’s 50 day moving average is $75.32 and its two-hundred day moving average is $78.05.

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

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend was Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is currently 49.38%.

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.