Wealth Advisory Solutions LLC Reduces Stock Holdings in NIKE, Inc. (NYSE:NKE)

Wealth Advisory Solutions LLC lessened its holdings in NIKE, Inc. (NYSE:NKE) by 97.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 2,798 shares of the footwear maker’s stock after selling 112,742 shares during the period. Wealth Advisory Solutions LLC’s holdings in NIKE were worth $247,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Longview Partners Guernsey LTD purchased a new position in NIKE during the first quarter valued at $533,533,000. Capital World Investors lifted its position in shares of NIKE by 612.2% during the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after buying an additional 4,457,376 shares in the last quarter. Jennison Associates LLC grew its stake in shares of NIKE by 45.6% during the 1st quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock valued at $832,623,000 after acquiring an additional 2,775,510 shares during the period. PineStone Asset Management Inc. increased its holdings in NIKE by 138.3% in the 2nd quarter. PineStone Asset Management Inc. now owns 2,715,689 shares of the footwear maker’s stock worth $204,681,000 after acquiring an additional 1,576,049 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in NIKE by 351.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock worth $150,101,000 after acquiring an additional 1,550,611 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Trading Down 1.4 %

NKE stock traded down $1.12 during trading on Monday, hitting $81.80. The company had a trading volume of 1,532,453 shares, compared to its average volume of 11,651,868. The firm has a market capitalization of $123.47 billion, a P/E ratio of 22.08, a PEG ratio of 1.96 and a beta of 1.02. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The company has a 50 day simple moving average of $82.64 and a 200-day simple moving average of $85.24.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.18. The firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company’s revenue was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.94 earnings per share. As a group, research analysts forecast that NIKE, Inc. will post 2.8 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend was Tuesday, September 3rd. NIKE’s dividend payout ratio is 39.68%.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on NKE shares. Guggenheim reduced their price objective on shares of NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Citigroup dropped their price objective on NIKE from $115.00 to $102.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Sanford C. Bernstein decreased their target price on NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research note on Thursday, September 19th. Wedbush dropped their price target on NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. Finally, Piper Sandler reiterated a “neutral” rating and set a $80.00 price objective on shares of NIKE in a research report on Friday, September 20th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.56.

NIKE Company 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.