NIKE, Inc. (NYSE:NKE) Shares Sold by GSB Wealth Management LLC

GSB Wealth Management LLC decreased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 22.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,239 shares of the footwear maker’s stock after selling 1,767 shares during the quarter. GSB Wealth Management LLC’s holdings in NIKE were worth $472,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Teachers Insurance & Annuity Association of America acquired a new stake in NIKE in the third quarter valued at about $30,000. VitalStone Financial LLC boosted its holdings in NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after buying an additional 150 shares in the last quarter. Dunhill Financial LLC grew its position in NIKE by 52.2% during the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after buying an additional 169 shares during the period. Ecofi Investissements SA purchased a new stake in shares of NIKE during the 2nd quarter worth approximately $49,000. Finally, Riverview Trust Co purchased a new position in shares of NIKE in the third quarter valued at $52,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of NIKE stock in a transaction dated Friday, December 27th. The stock was bought at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now owns 34,403 shares in the company, valued at $2,636,989.95. The trade was a 7.84 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

NIKE Stock Down 0.9 %

NKE stock opened at $73.60 on Friday. The firm has a 50 day simple moving average of $75.45 and a 200-day simple moving average of $77.86. The company has a market capitalization of $108.86 billion, a P/E ratio of 22.72, a PEG ratio of 2.36 and a beta of 1.02. NIKE, Inc. has a twelve month low of $70.32 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.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.15. The business had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business’s revenue was down 7.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.03 EPS. On average, equities research analysts predict that NIKE, Inc. will post 2.1 earnings per share for the current fiscal year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were paid a dividend of $0.40 per share. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. This represents a $1.60 annualized dividend and a yield of 2.17%. NIKE’s dividend payout ratio is 49.38%.

Analyst Ratings Changes

Several analysts have recently issued reports on NKE shares. Deutsche Bank Aktiengesellschaft reduced their price objective on NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research report on Monday, December 16th. Stifel Nicolaus lowered their target price 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. Jefferies Financial Group increased their price target on shares of NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research note on Monday, September 30th. Bank of America lowered their price objective on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Finally, Morgan Stanley cut their target price on NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Fourteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and an average price target of $89.96.

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.