KRS Capital Management LLC Sells 183 Shares of NIKE, Inc. (NYSE:NKE)

KRS Capital Management LLC lowered its stake in shares of NIKE, Inc. (NYSE:NKE) by 5.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,315 shares of the footwear maker’s stock after selling 183 shares during the quarter. KRS Capital Management LLC’s holdings in NIKE were worth $251,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of NKE. Teachers Insurance & Annuity Association of America acquired a new position in shares of NIKE during the third quarter valued at about $30,000. VitalStone Financial LLC increased its holdings in NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after buying an additional 150 shares during the period. Dunhill Financial LLC increased its holdings in NIKE by 52.2% in the 3rd 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 NIKE in the 2nd quarter worth approximately $49,000. Finally, Riverview Trust Co purchased a new stake in NIKE in the 3rd quarter worth approximately $52,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on NKE shares. Telsey Advisory Group lowered NIKE from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $93.00 to $80.00 in a research report on Friday, December 20th. TD Cowen lowered their price objective on NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research report on Monday, November 18th. Bank of America lowered their price objective on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. JPMorgan Chase & Co. decreased their target price on NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research report on Monday, December 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $84.00 target price on shares of NIKE in a research report on Friday, December 20th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $89.96.

NIKE Stock Performance

NKE traded down $0.22 during trading on Friday, hitting $70.89. 9,688,434 shares of the stock were exchanged, compared to its average volume of 11,668,856. The firm has a market capitalization of $104.85 billion, a P/E ratio of 21.88, a PEG ratio of 2.26 and a beta of 1.02. 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 fifty day moving average price of $75.87 and a two-hundred day moving average price of $77.96. NIKE, Inc. has a 1-year low of $70.32 and a 1-year high of $107.43.

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

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were given a $0.40 dividend. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.26%. The ex-dividend date was Monday, December 2nd. NIKE’s dividend payout ratio is currently 49.38%.

Insider Activity at NIKE

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of the company’s stock in a transaction on Friday, December 27th. The stock was bought at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, the director now directly owns 34,403 shares of the company’s stock, valued at $2,636,989.95. The trade was a 7.84 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.

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.