RWA Wealth Partners LLC Sells 91,001 Shares of NIKE, Inc. (NYSE:NKE)

RWA Wealth Partners LLC cut its stake in NIKE, Inc. (NYSE:NKE) by 38.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 145,624 shares of the footwear maker’s stock after selling 91,001 shares during the period. RWA Wealth Partners LLC’s holdings in NIKE were worth $11,019,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of NKE. Range Financial Group LLC acquired a new position in NIKE during the 4th quarter worth $642,000. Cacti Asset Management LLC acquired a new stake in NIKE in the fourth quarter worth about $9,987,000. Capricorn Fund Managers Ltd acquired a new position in NIKE during the 4th quarter valued at about $5,384,000. Klein Pavlis & Peasley Financial Inc. boosted its stake in shares of NIKE by 31.1% in the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock valued at $1,955,000 after purchasing an additional 6,124 shares during the last quarter. Finally, FNY Investment Advisers LLC grew its position in shares of NIKE by 5,745.9% during the 4th quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock worth $654,000 after buying an additional 8,504 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on NKE shares. Wells Fargo & Company reduced their price objective on shares of NIKE from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Dbs Bank upgraded NIKE from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Telsey Advisory Group reiterated a “market perform” rating and issued a $80.00 price objective on shares of NIKE in a report on Monday, March 17th. BMO Capital Markets reduced their target price on NIKE from $95.00 to $92.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Finally, Morgan Stanley lowered their price target on NIKE from $72.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, March 21st. Fifteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.38.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the transaction, the chairman now directly owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

NIKE Stock Down 3.8 %

NIKE stock opened at $63.32 on Friday. The company’s 50-day moving average price is $74.16 and its two-hundred day moving average price is $76.93. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The stock has a market cap of $93.65 billion, a P/E ratio of 19.54, a P/E/G ratio of 2.52 and a beta of 1.02. NIKE, Inc. has a twelve month low of $63.14 and a twelve month high of $98.04.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $11.27 billion during the quarter, compared to analysts’ expectations of $11.02 billion. During the same period last year, the firm posted $0.98 EPS. The firm’s revenue for the quarter was down 9.1% compared to the same quarter last year. As a group, analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio is 53.16%.

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.