BIP Wealth LLC Lowers Stock Position in NIKE, Inc. (NYSE:NKE)

BIP Wealth LLC reduced its stake in NIKE, Inc. (NYSE:NKE) by 16.4% during the fourth quarter, HoldingsChannel reports. The firm owned 5,319 shares of the footwear maker’s stock after selling 1,041 shares during the period. BIP Wealth LLC’s holdings in NIKE were worth $578,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of NKE. Oliver Luxxe Assets LLC raised its stake in shares of NIKE by 2.9% during the third quarter. Oliver Luxxe Assets LLC now owns 37,510 shares of the footwear maker’s stock worth $3,587,000 after acquiring an additional 1,041 shares in the last quarter. Louisiana State Employees Retirement System purchased a new position in shares of NIKE during the fourth quarter worth approximately $8,034,000. Financial Gravity Asset Management Inc. raised its stake in shares of NIKE by 2,332.5% during the third quarter. Financial Gravity Asset Management Inc. now owns 184,042 shares of the footwear maker’s stock worth $17,598,000 after acquiring an additional 176,476 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of NIKE by 10,184.3% during the fourth quarter. International Assets Investment Management LLC now owns 388,131 shares of the footwear maker’s stock worth $42,139,000 after acquiring an additional 384,357 shares in the last quarter. Finally, Franklin Street Advisors Inc. NC raised its stake in shares of NIKE by 55.6% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 194,164 shares of the footwear maker’s stock worth $21,080,000 after acquiring an additional 69,363 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NKE has been the topic of several research reports. Barclays decreased their price target on shares of NIKE from $142.00 to $114.00 and set an “overweight” rating on the stock in a research note on Monday, March 25th. Stifel Nicolaus cut their target price on shares of NIKE from $129.00 to $117.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Oppenheimer cut shares of NIKE from an “outperform” rating to a “market perform” rating and set a $110.00 target price on the stock. in a report on Friday, February 16th. The Goldman Sachs Group cut their target price on shares of NIKE from $135.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Finally, Evercore ISI cut their target price on shares of NIKE from $127.00 to $117.00 and set an “outperform” rating on the stock in a report on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, NIKE currently has an average rating of “Moderate Buy” and an average price target of $116.26.

NIKE Stock Down 0.7 %

Shares of NKE stock traded down $0.67 on Thursday, hitting $93.97. The stock had a trading volume of 2,613,709 shares, compared to its average volume of 9,435,401. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. The business has a 50 day moving average price of $97.39 and a 200 day moving average price of $103.38. The company has a market cap of $141.83 billion, a PE ratio of 27.84, a P/E/G ratio of 1.81 and a beta of 1.08. NIKE, Inc. has a one year low of $88.66 and a one year high of $128.68.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.29. The firm had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. Research analysts anticipate that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were paid a $0.37 dividend. The ex-dividend date was Friday, March 1st. This represents a $1.48 annualized dividend and a yield of 1.57%. NIKE’s dividend payout ratio (DPR) is presently 43.53%.

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.