BigSur Wealth Management LLC Decreases Stock Position in NIKE, Inc. (NYSE:NKE)

BigSur Wealth Management LLC decreased its stake in shares of NIKE, Inc. (NYSE:NKE) by 27.9% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 4,000 shares of the footwear maker’s stock after selling 1,550 shares during the quarter. BigSur Wealth Management LLC’s holdings in NIKE were worth $256,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. JNBA Financial Advisors raised its position in shares of NIKE by 1.3% during the 4th quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker’s stock valued at $760,000 after acquiring an additional 131 shares in the last quarter. Nations Financial Group Inc. IA ADV raised its position in shares of NIKE by 0.7% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker’s stock valued at $1,547,000 after acquiring an additional 136 shares in the last quarter. Elgethun Capital Management raised its position in shares of NIKE by 13.7% during the 4th quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker’s stock valued at $94,000 after acquiring an additional 149 shares in the last quarter. Game Plan Financial Advisors LLC raised its position in shares of NIKE by 11.1% during the 4th quarter. Game Plan Financial Advisors LLC now owns 1,500 shares of the footwear maker’s stock valued at $114,000 after acquiring an additional 150 shares in the last quarter. Finally, AlTi Global Inc. raised its position in shares of NIKE by 0.4% during the 4th quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker’s stock valued at $2,813,000 after acquiring an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling at NIKE

In other NIKE news, Director Robert Holmes Swan purchased 8,600 shares of the company’s stock in a transaction dated Friday, April 4th. The shares were bought at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the purchase, the director now directly 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 legal filing with the SEC, which can be accessed through this link. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. dropped their price target on NIKE from $64.00 to $56.00 and set a “neutral” rating on the stock in a research report on Monday, May 5th. Barclays dropped their price target on NIKE from $70.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Monday, May 12th. China Renaissance started coverage on shares of NIKE in a research report on Wednesday, March 19th. They issued a “hold” rating on the stock. Berenberg Bank began coverage on NIKE in a report on Tuesday, April 15th. They issued a “hold” rating and a $58.00 price objective for the company. Finally, Citigroup reduced their price objective on shares of NIKE from $72.00 to $57.00 and set a “neutral” rating for the company in a report on Monday, April 28th. Seventeen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, NIKE presently has an average rating of “Moderate Buy” and a consensus price target of $80.26.

NIKE Price Performance

NKE stock opened at $60.44 on Friday. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a one year low of $52.28 and a one year high of $98.04. The firm has a market capitalization of $89.40 billion, a PE ratio of 18.65, a P/E/G ratio of 2.52 and a beta of 1.21. The firm has a 50-day moving average of $59.38 and a two-hundred day moving average of $68.73.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 9.98% and a return on equity of 36.99%. The business’s quarterly revenue was down 9.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.98 earnings per share. On average, analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

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 $0.40 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.60 annualized dividend and a yield of 2.65%. NIKE’s dividend payout ratio is presently 53.16%.

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.