Greenwood Capital Associates LLC Sells 1,916 Shares of NIKE, Inc. (NYSE:NKE)

Greenwood Capital Associates LLC trimmed its stake in shares of NIKE, Inc. (NYSE:NKE) by 14.9% during the first quarter, Holdings Channel.com reports. The firm owned 10,902 shares of the footwear maker’s stock after selling 1,916 shares during the period. Greenwood Capital Associates LLC’s holdings in NIKE were worth $692,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Heck Capital Advisors LLC bought a new position in shares of NIKE in the 4th quarter valued at about $28,000. Roxbury Financial LLC bought a new stake in NIKE during the 4th quarter worth approximately $30,000. LFA Lugano Financial Advisors SA increased its position in shares of NIKE by 110.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after acquiring an additional 210 shares in the last quarter. Hopwood Financial Services Inc. acquired a new stake in shares of NIKE in the 4th quarter valued at about $30,000. Finally, EnRich Financial Partners LLC lifted its stake in NIKE by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker’s stock valued at $31,000 after acquiring an additional 273 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Transactions at NIKE

In other NIKE news, Director Robert Holmes Swan purchased 8,600 shares of NIKE stock in a transaction dated Friday, April 4th. The stock was acquired at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the acquisition, the director now owns 31,983 shares in the company, valued at $1,869,726.18. This trade represents a 36.78% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

NKE has been the subject of several recent research reports. Jefferies Financial Group reissued a “buy” rating on shares of NIKE in a research report on Friday, May 23rd. Robert W. Baird lowered their price target on shares of NIKE from $105.00 to $99.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Williams Trading reduced their target price on shares of NIKE from $93.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, April 21st. JPMorgan Chase & Co. cut their price target on NIKE from $64.00 to $56.00 and set a “neutral” rating for the company in a research note on Monday, May 5th. Finally, Dbs Bank upgraded shares of NIKE from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Seventeen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $80.26.

NIKE Stock Performance

NYSE:NKE opened at $62.81 on Friday. The company has a market cap of $92.90 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 2.52 and a beta of 1.21. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $98.04. The stock’s 50 day simple moving average is $59.23 and its two-hundred day simple moving average is $68.85. 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 released its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.28 by $0.26. The company had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm’s revenue was down 9.1% on a year-over-year basis. During the same quarter last year, the business posted $0.98 earnings per share. As a group, equities analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date is Monday, June 2nd. NIKE’s payout ratio is currently 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.