Larson Financial Group LLC Sells 7,685 Shares of NIKE, Inc. (NYSE:NKE)

Larson Financial Group LLC reduced its position in NIKE, Inc. (NYSE:NKE) by 53.3% in the 4th quarter, HoldingsChannel reports. The firm owned 6,741 shares of the footwear maker’s stock after selling 7,685 shares during the period. Larson Financial Group LLC’s holdings in NIKE were worth $732,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Iron Horse Wealth Management LLC lifted its stake in NIKE by 120.7% in the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 140 shares during the last quarter. Impact Partnership Wealth LLC lifted its stake in NIKE by 220.7% in the 3rd quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock valued at $25,000 after purchasing an additional 181 shares during the last quarter. Planned Solutions Inc. acquired a new stake in NIKE during the fourth quarter worth approximately $29,000. Raleigh Capital Management Inc. lifted its position in NIKE by 134.2% during the third quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock worth $36,000 after acquiring an additional 216 shares during the last quarter. Finally, Stephens Consulting LLC lifted its position in NIKE by 160.0% during the third quarter. Stephens Consulting LLC now owns 390 shares of the footwear maker’s stock worth $37,000 after acquiring an additional 240 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Price Performance

NYSE:NKE traded up $0.25 during midday trading on Tuesday, hitting $94.44. The company had a trading volume of 3,419,815 shares, compared to its average volume of 9,520,146. NIKE, Inc. has a 52-week low of $88.66 and a 52-week high of $128.68. The stock’s fifty day moving average price is $97.85 and its 200-day moving average price is $103.46. The company has a market capitalization of $142.54 billion, a PE ratio of 27.84, a P/E/G ratio of 1.82 and a beta of 1.09. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63.

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

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were given a dividend of $0.37 per share. The ex-dividend date was Friday, March 1st. This represents a $1.48 annualized dividend and a yield of 1.57%. NIKE’s payout ratio is 43.53%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Evercore ISI cut their price objective on shares of NIKE from $127.00 to $117.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd. Barclays decreased their price objective on shares of NIKE from $142.00 to $114.00 and set an “overweight” rating on the stock in a research note on Monday, March 25th. Wedbush reissued an “outperform” rating and issued a $115.00 price objective on shares of NIKE in a research note on Wednesday, March 27th. Royal Bank of Canada reissued a “sector perform” rating and issued a $100.00 price objective (down from $110.00) on shares of NIKE in a research note on Friday, March 22nd. Finally, The Goldman Sachs Group decreased their price objective on shares of NIKE from $135.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $116.26.

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.