EPG Wealth Management LLC Lowers Holdings in NIKE, Inc. (NYSE:NKE)

EPG Wealth Management LLC lowered its holdings in NIKE, Inc. (NYSE:NKE) by 4.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,586 shares of the footwear maker’s stock after selling 311 shares during the quarter. EPG Wealth Management LLC’s holdings in NIKE were worth $498,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of NKE. Wellington Management Group LLP lifted its position in NIKE by 32.4% in the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock valued at $2,749,903,000 after buying an additional 8,898,591 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of NIKE by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker’s stock worth $1,915,110,000 after acquiring an additional 347,178 shares during the last quarter. Capital World Investors lifted its holdings in shares of NIKE by 10.3% in the 4th quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker’s stock worth $1,857,389,000 after acquiring an additional 2,288,627 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of NIKE by 18.1% during the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock worth $1,541,246,000 after purchasing an additional 3,121,929 shares during the period. Finally, Norges Bank acquired a new stake in NIKE in the 4th quarter valued at approximately $1,126,288,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on NKE shares. Needham & Company LLC decreased their price target on NIKE from $84.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, March 17th. BMO Capital Markets lowered 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. Citigroup dropped their target price on NIKE from $72.00 to $57.00 and set a “neutral” rating for the company in a research report on Monday, April 28th. Robert W. Baird lowered their price objective on shares of NIKE from $105.00 to $99.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. Finally, Morgan Stanley dropped their price objective on shares of NIKE from $72.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, March 21st. Seventeen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $80.48.

Insider Buying and Selling at NIKE

In other news, Director Robert Holmes Swan purchased 8,600 shares of the company’s stock in a transaction dated 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. The trade was a 36.78 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the sale, the chairman now owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

NIKE Price Performance

Shares of NKE opened at $58.65 on Thursday. The firm has a fifty day moving average price of $63.29 and a 200 day moving average price of $71.63. The stock has a market cap of $86.76 billion, a PE ratio of 18.10, a price-to-earnings-growth ratio of 2.52 and a beta of 1.23. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $98.04. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $11.02 billion. During the same period in the prior year, the firm earned $0.98 EPS. The business’s revenue was down 9.1% on a year-over-year basis. As a group, sell-side analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE’s dividend payout ratio is presently 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.