Concentric Wealth Management LLC Trims Stock Position in NIKE, Inc. (NYSE:NKE)

Concentric Wealth Management LLC lowered its holdings in shares of NIKE, Inc. (NYSE:NKEFree Report) by 4.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,446 shares of the footwear maker’s stock after selling 608 shares during the quarter. Concentric Wealth Management LLC’s holdings in NIKE were worth $1,568,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NKE. Louisiana State Employees Retirement System purchased a new stake in NIKE in the 4th quarter worth approximately $8,034,000. Financial Gravity Asset Management Inc. increased its holdings in NIKE by 2,332.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 184,042 shares of the footwear maker’s stock worth $17,598,000 after acquiring an additional 176,476 shares in the last quarter. Brown Advisory Inc. increased its holdings in NIKE by 4.3% in the 4th quarter. Brown Advisory Inc. now owns 4,668,949 shares of the footwear maker’s stock worth $506,908,000 after acquiring an additional 192,752 shares in the last quarter. International Assets Investment Management LLC increased its holdings in NIKE by 10,184.3% in the 4th quarter. International Assets Investment Management LLC now owns 388,131 shares of the footwear maker’s stock worth $42,139,000 after acquiring an additional 384,357 shares in the last quarter. Finally, Missouri Trust & Investment Co increased its holdings in NIKE by 11.3% in the 4th quarter. Missouri Trust & Investment Co now owns 11,492 shares of the footwear maker’s stock worth $1,248,000 after acquiring an additional 1,167 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Activity

In other news, EVP Monique S. Matheson sold 45,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the transaction, the executive vice president now owns 44,997 shares in the company, valued at $4,236,917.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Monique S. Matheson sold 45,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the transaction, the executive vice president now owns 44,997 shares in the company, valued at $4,236,917.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Johanna Nielsen sold 282 shares of NIKE stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the completion of the transaction, the vice president now owns 730 shares in the company, valued at approximately $68,357.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 213,660 shares of company stock worth $19,946,333. Company insiders own 0.50% of the company’s stock.

NIKE Trading Down 2.3 %

NKE stock traded down $2.21 during midday trading on Wednesday, reaching $93.66. The company’s stock had a trading volume of 9,858,422 shares, compared to its average volume of 9,197,562. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. The stock has a fifty day simple moving average of $92.95 and a two-hundred day simple moving average of $100.72. NIKE, Inc. has a 1 year low of $88.66 and a 1 year high of $123.39. The firm has a market capitalization of $141.37 billion, a price-to-earnings ratio of 27.55, a PEG ratio of 1.75 and a beta of 1.05.

NIKE (NYSE:NKEGet Free Report) last released its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.29. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The business had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.28 billion. On average, equities research analysts predict that NIKE, Inc. will post 3.73 EPS for the current year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.58%. NIKE’s dividend payout ratio is currently 43.53%.

Analysts Set New Price Targets

A number of brokerages have issued reports on NKE. Robert W. Baird cut their price objective on shares of NIKE from $140.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, March 22nd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $100.00 price objective (down from $110.00) on shares of NIKE in a report on Friday, March 22nd. Citigroup cut their price objective on shares of NIKE from $135.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, March 14th. Wells Fargo & Company cut their price objective on shares of NIKE from $120.00 to $115.00 and set an “overweight” rating for the company in a report on Monday. Finally, Telsey Advisory Group cut their price objective on shares of NIKE from $140.00 to $120.00 and set an “outperform” rating for the company in a report on Monday, March 18th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $116.07.

Read Our Latest Research Report on NIKE

NIKE Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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