1900 Wealth Management LLC Trims Position in NIKE, Inc. (NYSE:NKE)

1900 Wealth Management LLC trimmed its stake in shares of NIKE, Inc. (NYSE:NKE) by 5.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,324 shares of the footwear maker’s stock after selling 508 shares during the period. 1900 Wealth Management LLC’s holdings in NIKE were worth $1,012,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. RFG Advisory LLC lifted its holdings in shares of NIKE by 9.7% in the 3rd quarter. RFG Advisory LLC now owns 6,492 shares of the footwear maker’s stock worth $621,000 after acquiring an additional 573 shares during the last quarter. Naples Global Advisors LLC lifted its holdings in NIKE by 9.9% during the 3rd quarter. Naples Global Advisors LLC now owns 5,402 shares of the footwear maker’s stock valued at $518,000 after buying an additional 486 shares in the last quarter. Capital Investment Advisors LLC lifted its holdings in NIKE by 3.7% during the 3rd quarter. Capital Investment Advisors LLC now owns 18,458 shares of the footwear maker’s stock valued at $1,765,000 after buying an additional 652 shares in the last quarter. Impact Partnership Wealth LLC lifted its holdings in NIKE by 220.7% during the 3rd quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock valued at $25,000 after buying an additional 181 shares in the last quarter. Finally, BTC Capital Management Inc. lifted its holdings in NIKE by 1.5% during the 3rd quarter. BTC Capital Management Inc. now owns 33,780 shares of the footwear maker’s stock valued at $3,230,000 after buying an additional 513 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Performance

Shares of NKE traded up $0.06 during trading hours on Tuesday, hitting $94.25. The stock had a trading volume of 2,336,040 shares, compared to its average volume of 9,503,817. 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 firm has a 50-day moving average price of $97.85 and a 200 day moving average price of $103.46. NIKE, Inc. has a fifty-two week low of $88.66 and a fifty-two week high of $128.68. The firm has a market capitalization of $142.26 billion, a price-to-earnings ratio of 27.84, a PEG ratio of 1.82 and a beta of 1.09.

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

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend was Friday, March 1st. NIKE’s dividend payout ratio is currently 43.53%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NKE. Morgan Stanley decreased their price objective on shares of NIKE from $124.00 to $116.00 and set an “overweight” rating for the company in a report on Wednesday, March 27th. Sanford C. Bernstein cut their target price on shares of NIKE from $134.00 to $120.00 and set an “outperform” rating on the stock in a research report on Friday, March 22nd. TheStreet downgraded shares of NIKE from a “b” rating to a “c+” rating in a research report on Tuesday, January 9th. UBS Group cut their target price on shares of NIKE from $138.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Finally, Jefferies Financial Group cut their target price on shares of NIKE from $110.00 to $100.00 and set a “hold” rating on the stock in a research report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $116.26.

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.