Long Run Wealth Advisors LLC Trims Stock Position in NIKE, Inc. (NYSE:NKE)

Long Run Wealth Advisors LLC lessened its stake in NIKE, Inc. (NYSE:NKE) by 5.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,840 shares of the footwear maker’s stock after selling 150 shares during the period. Long Run Wealth Advisors LLC’s holdings in NIKE were worth $215,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Absher Wealth Management LLC increased its stake in shares of NIKE by 1.3% during the fourth quarter. Absher Wealth Management LLC now owns 392,020 shares of the footwear maker’s stock worth $29,664,000 after purchasing an additional 5,167 shares in the last quarter. Econ Financial Services Corp acquired a new stake in NIKE in the 4th quarter valued at about $1,423,000. Martin Capital Partners LLC purchased a new position in NIKE in the 4th quarter worth approximately $1,194,000. Money Concepts Capital Corp boosted its holdings in shares of NIKE by 49.3% during the 4th quarter. Money Concepts Capital Corp now owns 15,340 shares of the footwear maker’s stock worth $1,161,000 after purchasing an additional 5,068 shares during the last quarter. Finally, Confluence Wealth Services Inc. grew its position in shares of NIKE by 24.7% in the fourth quarter. Confluence Wealth Services Inc. now owns 14,414 shares of the footwear maker’s stock valued at $1,071,000 after purchasing an additional 2,851 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Evercore ISI dropped their target price on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Bank of America lowered their price target on NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Telsey Advisory Group cut shares of NIKE from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $93.00 to $80.00 in a research report on Friday, December 20th. UBS Group reiterated a “neutral” rating and issued a $73.00 target price on shares of NIKE in a report on Thursday, December 26th. Finally, BMO Capital Markets upped their target price on shares of NIKE from $92.00 to $95.00 and gave the stock an “outperform” rating in a research note on Monday. Fourteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $89.77.

Insiders Place Their Bets

In other news, Director John W. Rogers, Jr. bought 2,500 shares of the firm’s stock in a transaction dated Friday, December 27th. The stock was acquired at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the acquisition, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.10% of the company’s stock.

NIKE Stock Performance

Shares of NKE stock opened at $74.60 on Thursday. 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, Inc. has a 12-month low of $70.32 and a 12-month high of $107.43. The company has a market cap of $110.34 billion, a price-to-earnings ratio of 23.02, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. The stock has a 50 day simple moving average of $75.53 and a 200-day simple moving average of $78.12.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating 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 net margin of 9.98% and a return on equity of 36.99%. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period last year, the company posted $1.03 earnings per share. On average, equities analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were paid a dividend of $0.40 per share. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend was Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is currently 49.38%.

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.