Folger Nolan Fleming Douglas Capital Management Inc. Lowers Holdings in NIKE, Inc. (NYSE:NKE)

Folger Nolan Fleming Douglas Capital Management Inc. trimmed its position in shares of NIKE, Inc. (NYSE:NKE) by 7.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 4,353 shares of the footwear maker’s stock after selling 333 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in NIKE were worth $276,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. JNBA Financial Advisors raised its stake in NIKE by 1.3% in the fourth quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker’s stock valued at $760,000 after buying an additional 131 shares in the last quarter. Nations Financial Group Inc. IA ADV boosted its holdings in NIKE by 0.7% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker’s stock valued at $1,547,000 after purchasing an additional 136 shares in the last quarter. Elgethun Capital Management increased its stake in NIKE by 13.7% in the fourth quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker’s stock valued at $94,000 after purchasing an additional 149 shares during the last quarter. Game Plan Financial Advisors LLC raised its holdings in NIKE by 11.1% during the fourth quarter. Game Plan Financial Advisors LLC now owns 1,500 shares of the footwear maker’s stock worth $114,000 after purchasing an additional 150 shares in the last quarter. Finally, AlTi Global Inc. lifted its position in shares of NIKE by 0.4% during the 4th quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker’s stock worth $2,813,000 after buying an additional 150 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NKE has been the topic of several research analyst reports. Bank of America cut their price target on shares of NIKE from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. UBS Group decreased their target price on shares of NIKE from $73.00 to $66.00 and set a “neutral” rating for the company in a research note on Friday, March 21st. Royal Bank of Canada lowered their price objective on NIKE from $66.00 to $65.00 and set a “sector perform” rating on the stock in a report on Tuesday, May 20th. Cfra Research raised NIKE to a “moderate buy” rating in a research note on Friday, March 21st. Finally, BMO Capital Markets decreased their target price on NIKE from $95.00 to $92.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Seventeen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and a consensus price target of $80.26.

Insider Buying and Selling

In related news, Director Robert Holmes Swan acquired 8,600 shares of the business’s stock in a transaction that occurred on Friday, April 4th. The shares were acquired at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the purchase, the director now directly owns 31,983 shares in the company, valued at $1,869,726.18. This trade represents a 36.78% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.10% of the company’s stock.

NIKE Stock Performance

Shares of NKE stock opened at $62.81 on Friday. The company’s 50-day simple moving average is $59.23 and its 200-day simple moving average is $68.85. NIKE, Inc. has a one year low of $52.28 and a one year high of $98.04. The stock has a market capitalization of $92.90 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 2.52 and a beta of 1.21. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) 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 firm had revenue of $11.27 billion for the quarter, compared to analysts’ expectations of $11.02 billion. During the same period last year, the business posted $0.98 earnings per share. The firm’s revenue for the quarter was down 9.1% on a year-over-year basis. Equities analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date is Monday, June 2nd. NIKE’s payout ratio is 53.16%.

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.