Waldron Private Wealth LLC Cuts Stake in NIKE, Inc. (NYSE:NKE)

Waldron Private Wealth LLC lessened its stake in NIKE, Inc. (NYSE:NKE) by 6.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 8,089 shares of the footwear maker’s stock after selling 581 shares during the quarter. Waldron Private Wealth LLC’s holdings in NIKE were worth $718,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC boosted its holdings in shares of NIKE by 36.8% during the 1st quarter. International Assets Investment Management LLC now owns 4,890 shares of the footwear maker’s stock valued at $453,000 after purchasing an additional 1,315 shares during the last quarter. Riverview Trust Co purchased a new stake in shares of NIKE in the first quarter worth about $57,000. Thompson Investment Management Inc. boosted its stake in NIKE by 52.0% during the first quarter. Thompson Investment Management Inc. now owns 833 shares of the footwear maker’s stock valued at $78,000 after buying an additional 285 shares during the last quarter. Brookstone Capital Management increased its stake in NIKE by 17.7% in the 1st quarter. Brookstone Capital Management now owns 64,524 shares of the footwear maker’s stock worth $6,064,000 after acquiring an additional 9,694 shares during the last quarter. Finally, G&S Capital LLC raised its holdings in shares of NIKE by 105.1% during the 1st quarter. G&S Capital LLC now owns 26,387 shares of the footwear maker’s stock worth $2,480,000 after acquiring an additional 13,524 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on NKE shares. Oppenheimer reissued an “outperform” rating and issued a $120.00 target price on shares of NIKE in a report on Friday, June 28th. Jefferies Financial Group increased their price target on shares of NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a report on Monday, September 30th. HSBC reduced their price objective on NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, June 28th. TD Cowen raised their price objective on NIKE from $71.00 to $78.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company boosted their target price on NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Fourteen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $96.56.

Insider Activity

In related news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.50% of the company’s stock.

NIKE Price Performance

NKE opened at $81.42 on Wednesday. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The business’s fifty day simple moving average is $82.83 and its 200-day simple moving average is $85.14. The company has a market capitalization of $122.89 billion, a price-to-earnings ratio of 21.83, a PEG ratio of 1.96 and a beta of 1.02. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. During the same period in the prior year, the business earned $0.94 EPS. The firm’s quarterly revenue was down 10.4% on a year-over-year basis. On average, equities research analysts anticipate that NIKE, Inc. will post 2.8 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.82%. NIKE’s dividend payout ratio is currently 39.68%.

NIKE 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.