Stockman Wealth Management Inc. Trims Stake in NIKE, Inc. (NYSE:NKE)

Stockman Wealth Management Inc. reduced its position in NIKE, Inc. (NYSE:NKE) by 5.1% in the 4th quarter, Holdings Channel reports. The firm owned 2,223 shares of the footwear maker’s stock after selling 120 shares during the period. Stockman Wealth Management Inc.’s holdings in NIKE were worth $241,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NKE. RFG Advisory LLC raised its stake in NIKE by 9.7% during the 3rd quarter. RFG Advisory LLC now owns 6,492 shares of the footwear maker’s stock valued at $621,000 after acquiring an additional 573 shares during the last quarter. Naples Global Advisors LLC raised its stake 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 acquiring an additional 486 shares during the last quarter. Capital Investment Advisors LLC raised its stake in shares of NIKE by 3.7% during the 3rd quarter. Capital Investment Advisors LLC now owns 18,458 shares of the footwear maker’s stock worth $1,765,000 after buying an additional 652 shares in the last quarter. Impact Partnership Wealth LLC raised its stake in shares of NIKE by 220.7% during the 3rd quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock worth $25,000 after buying an additional 181 shares in the last quarter. Finally, 1900 Wealth Management LLC raised its stake in shares of NIKE by 4.6% during the 3rd quarter. 1900 Wealth Management LLC now owns 9,832 shares of the footwear maker’s stock worth $940,000 after buying an additional 429 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Performance

NYSE:NKE traded up $0.42 during midday trading on Tuesday, reaching $94.61. 3,548,726 shares of the company traded hands, compared to its average volume of 9,521,468. NIKE, Inc. has a twelve month low of $88.66 and a twelve month high of $128.68. The firm has a market capitalization of $142.80 billion, a price-to-earnings ratio of 27.84, a price-to-earnings-growth ratio of 1.82 and a beta of 1.09. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. The company has a fifty day moving average price of $97.85 and a 200 day moving average price of $103.46.

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

NIKE Announces Dividend

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 of this dividend was Friday, March 1st. This represents a $1.48 dividend on an annualized basis and a yield of 1.56%. NIKE’s dividend payout ratio (DPR) is presently 43.53%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NKE. Telsey Advisory Group cut their target price on NIKE from $140.00 to $120.00 and set an “outperform” rating for the company in a research note on Monday, March 18th. Sanford C. Bernstein lowered their price target on NIKE from $134.00 to $120.00 and set an “outperform” rating on the stock in a report on Friday, March 22nd. Barclays lowered their target price on NIKE from $142.00 to $114.00 and set an “overweight” rating on the stock in a report on Monday, March 25th. Evercore ISI lowered their target price on NIKE from $127.00 to $117.00 and set an “outperform” rating on the stock in a report on Friday, March 22nd. Finally, Robert W. Baird lowered their target price on NIKE from $140.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.