FAS Wealth Partners Inc. Sells 1,015 Shares of NIKE, Inc. (NYSE:NKE)

FAS Wealth Partners Inc. lessened its holdings in NIKE, Inc. (NYSE:NKE) by 12.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 7,041 shares of the footwear maker’s stock after selling 1,015 shares during the period. FAS Wealth Partners Inc.’s holdings in NIKE were worth $533,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of NKE. Tidal Investments LLC increased its stake in NIKE by 65.4% in the 3rd quarter. Tidal Investments LLC now owns 105,571 shares of the footwear maker’s stock worth $9,332,000 after buying an additional 41,752 shares in the last quarter. Confluence Investment Management LLC increased its stake in NIKE by 6.3% in the 4th quarter. Confluence Investment Management LLC now owns 246,080 shares of the footwear maker’s stock worth $18,621,000 after buying an additional 14,592 shares in the last quarter. Cacti Asset Management LLC purchased a new stake in NIKE in the 4th quarter worth $9,987,000. GAMMA Investing LLC grew its position in shares of NIKE by 1.0% during the fourth quarter. GAMMA Investing LLC now owns 15,014 shares of the footwear maker’s stock valued at $1,136,000 after purchasing an additional 150 shares in the last quarter. Finally, Modus Advisors LLC purchased a new position in shares of NIKE during the fourth quarter valued at about $85,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

Shares of NIKE stock opened at $56.80 on Friday. The firm has a market cap of $84.01 billion, a P/E ratio of 17.53, a P/E/G ratio of 2.52 and a beta of 1.15. 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 $52.28 and a 12 month high of $98.04. The stock’s fifty day moving average price is $65.10 and its 200-day moving average price is $72.32.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.28 by $0.26. The firm had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.98 earnings per share. On average, equities research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.82%. NIKE’s payout ratio is currently 53.16%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Robert W. Baird cut their price objective on NIKE from $105.00 to $99.00 and set an “outperform” rating for the company in a research report on Friday, March 21st. Citigroup cut their price objective on NIKE from $72.00 to $57.00 and set a “neutral” rating for the company in a research report on Monday. JPMorgan Chase & Co. cut their price objective on NIKE from $73.00 to $64.00 and set a “neutral” rating for the company in a research report on Friday, March 21st. The Goldman Sachs Group cut their price objective on NIKE from $88.00 to $72.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Finally, Cfra Research upgraded NIKE to a “moderate buy” rating in a research report on Friday, March 21st. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.15.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the sale, the chairman now owns 896,632 shares of the company’s stock, valued at $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 is available through this link. Also, Director Robert Holmes Swan acquired 8,600 shares of the company’s stock in a transaction that occurred on Friday, April 4th. The shares were bought at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the transaction, the director now owns 31,983 shares of the company’s stock, valued at $1,869,726.18. This represents a 36.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is owned by corporate insiders.

About NIKE

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.