RIA Advisory Group LLC Lowers Stock Position in NIKE, Inc. $NKE

RIA Advisory Group LLC cut its holdings in NIKE, Inc. (NYSE:NKE) by 53.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,636 shares of the footwear maker’s stock after selling 19,890 shares during the period. RIA Advisory Group LLC’s holdings in NIKE were worth $1,124,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Main Street Financial Solutions LLC lifted its holdings in NIKE by 4.2% in the 2nd quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker’s stock worth $244,000 after purchasing an additional 139 shares in the last quarter. Spirepoint Private Client LLC lifted its holdings in NIKE by 0.4% in the 3rd quarter. Spirepoint Private Client LLC now owns 36,140 shares of the footwear maker’s stock worth $2,520,000 after purchasing an additional 153 shares in the last quarter. Diligent Investors LLC lifted its holdings in NIKE by 4.3% in the 4th quarter. Diligent Investors LLC now owns 3,719 shares of the footwear maker’s stock worth $237,000 after purchasing an additional 153 shares in the last quarter. CVA Family Office LLC lifted its holdings in NIKE by 8.0% in the 3rd quarter. CVA Family Office LLC now owns 2,113 shares of the footwear maker’s stock worth $147,000 after purchasing an additional 156 shares in the last quarter. Finally, Naples Global Advisors LLC lifted its holdings in NIKE by 1.9% in the 3rd quarter. Naples Global Advisors LLC now owns 8,514 shares of the footwear maker’s stock worth $597,000 after purchasing an additional 159 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Wall Street Zen cut NIKE from a “hold” rating to a “sell” rating in a report on Saturday, April 18th. Telsey Advisory Group lowered their price target on NIKE from $65.00 to $55.00 and set a “market perform” rating on the stock in a report on Wednesday, April 1st. China Renaissance lowered their price target on NIKE from $74.60 to $50.30 and set a “hold” rating on the stock in a report on Thursday, April 2nd. Royal Bank Of Canada reissued a “buy” rating on shares of NIKE in a report on Wednesday, April 1st. Finally, CICC Research cut NIKE from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $69.00 to $58.00 in a report on Monday, April 6th. Seventeen research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $62.34.

Insider Buying and Selling

In related news, Director Robert Holmes Swan bought 11,781 shares of the business’s stock in a transaction dated Tuesday, April 7th. The shares were purchased at an average price of $42.44 per share, with a total value of $499,985.64. Following the transaction, the director owned 55,074 shares in the company, valued at $2,337,340.56. This trade represents a 27.21% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Elliott Hill bought 23,660 shares of the business’s stock in a transaction dated Monday, April 13th. The shares were bought at an average cost of $42.27 per share, for a total transaction of $1,000,108.20. Following the transaction, the chief executive officer owned 265,247 shares in the company, valued at approximately $11,211,990.69. The trade was a 9.79% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders bought 64,441 shares of company stock worth $2,734,204. 0.80% of the stock is owned by company insiders.

NIKE Stock Performance

NYSE NKE opened at $44.46 on Friday. The company has a market cap of $65.85 billion, a P/E ratio of 29.45, a P/E/G ratio of 2.36 and a beta of 1.12. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.45 and a current ratio of 2.14. The business’s 50 day moving average price is $51.39 and its 200-day moving average price is $59.70. NIKE, Inc. has a fifty-two week low of $42.09 and a fifty-two week high of $80.17.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.06. The firm had revenue of $11.28 billion for the quarter, compared to the consensus estimate of $11.23 billion. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The company’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 EPS. Sell-side analysts predict that NIKE, Inc. will post 1.51 earnings per share for the current year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd were given a dividend of $0.41 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $1.64 annualized dividend and a dividend yield of 3.7%. NIKE’s payout ratio is currently 108.61%.

About NIKE

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).