NIKE, Inc. (NYSE:NKE) Shares Sold by GeoWealth Management LLC
GeoWealth Management LLC reduced its stake in NIKE, Inc. (NYSE:NKE) by 71.6% in Q4, owning 6,225 shares valued at $471,000. Other institutional investors also adjusted their positions, with Range Financial Group acquiring a stake worth $642,000 and Cacti Asset Management investing $9,987,000. NIKE shares opened at $56.24, with a market cap of $83.19 billion. The company reported $0.54 EPS, exceeding estimates, but revenue fell 9.1% year-over-year. NIKE announced a quarterly dividend of $0.40, yielding 2.84%. Analysts have mixed ratings on the stock, with a consensus price target of $84.41.
GeoWealth Management LLC lowered its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 71.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,225 shares of the footwear maker's stock after selling 15,692 shares during the period. GeoWealth Management LLC's holdings in NIKE were worth $471,000 at the end of the most recent reporting period.
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Several other institutional investors and hedge funds have also made changes to their positions in NKE. Range Financial Group LLC acquired a new stake in shares of NIKE in the fourth quarter valued at approximately $642,000. Cacti Asset Management LLC purchased a new position in NIKE during the 4th quarter worth $9,987,000. Capricorn Fund Managers Ltd acquired a new position in NIKE in the fourth quarter valued at $5,384,000. Klein Pavlis & Peasley Financial Inc. raised its holdings in shares of NIKE by 31.1% in the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker's stock valued at $1,955,000 after buying an additional 6,124 shares during the last quarter. Finally, FNY Investment Advisers LLC boosted its stake in shares of NIKE by 5,745.9% during the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker's stock worth $654,000 after buying an additional 8,504 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.
NIKE Trading Up 0.9 %
Shares of NKE opened at $56.24 on Tuesday. The stock's fifty day simple moving average is $68.07 and its 200 day simple moving average is $73.55. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $98.04. 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 firm has a market capitalization of $83.19 billion, a P/E ratio of 17.36, a price-to-earnings-growth ratio of 2.52 and a beta of 1.15.
- Nike Stock Dips on Earnings: Analysts Weigh in on What’s Next
NIKE (NYSE:NKE - Get Free Report) last posted its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. During the same quarter in the prior year, the company earned $0.98 EPS. The company's revenue was down 9.1% on a year-over-year basis. On average, equities research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.
NIKE Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend was Monday, March 3rd. NIKE's dividend payout ratio (DPR) is presently 53.16%.
Analyst Ratings Changes
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NKE has been the topic of several recent research reports. Dbs Bank upgraded NIKE from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. Williams Trading decreased their price target on NIKE from $93.00 to $73.00 and set a "buy" rating for the company in a report on Monday. UBS Group cut their price objective on shares of NIKE from $73.00 to $66.00 and set a "neutral" rating for the company in a research report on Friday, March 21st. China Renaissance assumed coverage on shares of NIKE in a report on Wednesday, March 19th. They set a "hold" rating for the company. Finally, Telsey Advisory Group reiterated a "market perform" rating and set a $80.00 target price on shares of NIKE in a research report on Monday, March 17th. Sixteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $84.41.
Get Our Latest Analysis on NKE
Insider Transactions at NIKE
In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the company's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the transaction, the chairman now owns 896,632 shares in the company, valued at $65,301,708.56. This represents a 15.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Holmes Swan acquired 8,600 shares of the company's stock in a transaction dated Friday, April 4th. The shares were purchased at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the purchase, the director now directly owns 31,983 shares of the company's stock, valued at approximately $1,869,726.18. This trade represents a 36.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company's stock.
NIKE Company Profile
(Free Report)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.
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