NIKE, Inc. (NYSE:NKE) Shares Sold by Stone Summit Wealth LLC

Stone Summit Wealth LLC reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 1.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,435 shares of the footwear maker’s stock after selling 345 shares during the period. Stone Summit Wealth LLC’s holdings in NIKE were worth $1,395,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NKE. Pacer Advisors Inc. grew its stake in shares of NIKE by 6,029.6% in the 4th quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock worth $516,166,000 after purchasing an additional 6,709,985 shares during the last quarter. Loomis Sayles & Co. L P boosted its holdings in NIKE by 1,209,638.7% during the third quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock worth $575,342,000 after buying an additional 6,507,856 shares in the last quarter. Assenagon Asset Management S.A. grew its position in NIKE by 358.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock worth $228,165,000 after buying an additional 2,357,745 shares during the last quarter. State Street Corp increased its holdings in shares of NIKE by 3.3% in the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after buying an additional 1,862,021 shares in the last quarter. Finally, Holocene Advisors LP bought a new position in shares of NIKE in the third quarter valued at $148,635,000. 64.25% of the stock is currently owned by institutional investors.

NIKE Stock Down 4.3 %

NIKE stock opened at $68.69 on Monday. The company has a market capitalization of $101.60 billion, a P/E ratio of 21.20, a P/E/G ratio of 2.34 and a beta of 1.01. NIKE, Inc. has a 1-year low of $68.62 and a 1-year high of $107.43. The firm’s fifty day simple moving average is $75.12 and its 200-day simple moving average is $78.04. 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 announced its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The company had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.03 earnings per share. Sell-side analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend was Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio (DPR) is 49.38%.

Insider Activity

In other news, Director John W. Rogers, Jr. bought 2,500 shares of the stock in a transaction that occurred on Friday, December 27th. The shares were acquired at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the purchase, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This represents a 7.84 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

NKE has been the topic of a number of recent research reports. Morgan Stanley decreased their target price on NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Telsey Advisory Group reissued a “market perform” rating and issued a $80.00 price target on shares of NIKE in a research note on Thursday. Citigroup lowered shares of NIKE from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $102.00 to $72.00 in a research note on Friday. Deutsche Bank Aktiengesellschaft decreased their target price on shares of NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a report on Monday, December 16th. Finally, TD Cowen reduced their price target on shares of NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research report on Monday, November 18th. Fifteen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $88.62.

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.