Weatherly Asset Management L. P. Reduces Position in NIKE, Inc. (NYSE:NKE)

Weatherly Asset Management L. P. cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 0.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,786 shares of the footwear maker’s stock after selling 180 shares during the period. Weatherly Asset Management L. P.’s holdings in NIKE were worth $2,918,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Iron Horse Wealth Management LLC boosted its position in shares of NIKE by 120.7% during the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after buying an additional 140 shares during the last quarter. Impact Partnership Wealth LLC boosted its position in shares of NIKE by 220.7% during the third quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock valued at $25,000 after buying an additional 181 shares during the last quarter. Planned Solutions Inc. bought a new position in NIKE in the fourth quarter valued at about $29,000. Raleigh Capital Management Inc. lifted its holdings in NIKE by 134.2% in the third quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock valued at $36,000 after acquiring an additional 216 shares during the period. Finally, Stephens Consulting LLC lifted its holdings in NIKE by 160.0% in the third quarter. Stephens Consulting LLC now owns 390 shares of the footwear maker’s stock valued at $37,000 after acquiring an additional 240 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Performance

NIKE stock traded down $0.15 during trading hours on Tuesday, hitting $94.04. 6,579,633 shares of the stock traded hands, compared to its average volume of 9,562,076. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. The firm’s 50 day moving average price is $97.85 and its 200-day moving average price is $103.46. The stock has a market capitalization of $141.94 billion, a price-to-earnings ratio of 27.84, a P/E/G ratio of 1.82 and a beta of 1.09. NIKE, Inc. has a 1 year low of $88.66 and a 1 year high of $128.68.

NIKE (NYSE:NKE) last posted its quarterly earnings results 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 business had revenue of $12.43 billion for 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%. As a group, equities analysts expect that NIKE, Inc. will post 3.73 EPS for the current fiscal year.

NIKE Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Bank of America raised NIKE from a “neutral” rating to a “buy” rating and increased their target price for the company from $110.00 to $113.00 in a report on Thursday, April 11th. Sanford C. Bernstein lowered their target price on NIKE from $134.00 to $120.00 and set an “outperform” rating on the stock in a report on Friday, March 22nd. Williams Trading reissued a “sell” rating and issued a $85.00 target price (down previously from $92.00) on shares of NIKE in a report on Monday, March 18th. Royal Bank of Canada reissued a “sector perform” rating and issued a $100.00 target price (down previously from $110.00) on shares of NIKE in a report on Friday, March 22nd. Finally, Robert W. Baird decreased their price objective on NIKE from $140.00 to $125.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd. Two 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $116.26.

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.