Sheets Smith Wealth Management Decreases Stake in NIKE, Inc. $NKE

Sheets Smith Wealth Management cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 31.3% during the first quarter, HoldingsChannel.com reports. The fund owned 44,236 shares of the footwear maker’s stock after selling 20,171 shares during the period. Sheets Smith Wealth Management’s holdings in NIKE were worth $2,337,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Cornerstone Financial Management LLC purchased a new stake in shares of NIKE in the fourth quarter valued at approximately $26,000. Sankala Group LLC purchased a new position in NIKE during the fourth quarter worth approximately $26,000. J.Safra Asset Management Corp acquired a new position in NIKE during the fourth quarter worth $29,000. Kemnay Advisory Services Inc. purchased a new stake in NIKE in the 4th quarter valued at $30,000. Finally, Litman Gregory Wealth Management LLC purchased a new stake in NIKE in the 4th quarter valued at $32,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Performance

NYSE:NKE opened at $45.22 on Friday. NIKE, Inc. has a fifty-two week low of $41.35 and a fifty-two week high of $80.17. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.45 and a current ratio of 2.14. The company has a 50 day moving average price of $44.39 and a 200 day moving average price of $54.79. The stock has a market capitalization of $66.97 billion, a P/E ratio of 29.95, a PEG ratio of 1.96 and a beta of 1.12.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The company had revenue of $11.28 billion for the quarter, compared to analysts’ expectations of $11.23 billion. During the same period in the prior year, the firm earned $0.54 earnings per share. The firm’s revenue was up .1% compared to the same quarter last year. Equities research analysts forecast that NIKE, Inc. will post 1.49 EPS for the current year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Monday, June 1st. NIKE’s payout ratio is currently 108.61%.

Insider Buying and Selling

In other news, Director John W. Rogers, Jr. bought 4,000 shares of the company’s stock in a transaction on Thursday, April 9th. The stock was bought at an average cost of $43.34 per share, with a total value of $173,360.00. Following the transaction, the director directly owned 41,022 shares in the company, valued at $1,777,893.48. The trade was a 10.80% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Elliott Hill purchased 23,660 shares of the business’s stock in a transaction on Monday, April 13th. The shares were acquired at an average price of $42.27 per share, for a total transaction of $1,000,108.20. Following the completion of the purchase, the chief executive officer directly owned 265,247 shares of the company’s stock, valued at approximately $11,211,990.69. This trade represents a 9.79% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 64,441 shares of company stock worth $2,734,204 over the last 90 days. 0.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

NKE has been the topic of several analyst reports. CICC Research lowered NIKE from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $69.00 to $58.00 in a report on Monday, April 6th. Sanford C. Bernstein reissued a “buy” rating on shares of NIKE in a report on Monday, May 11th. Williams Trading cut their price objective on shares of NIKE from $80.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, April 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of NIKE in a research note on Thursday, June 4th. Finally, Zacks Research lowered shares of NIKE from a “hold” rating to a “strong sell” rating in a report on Monday, June 1st. Fifteen analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, NIKE currently has an average rating of “Hold” and an average price target of $60.89.

Trending Headlines about NIKE

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Barclays reiterated a Buy rating on NIKE, which can support sentiment by signaling that analysts still see upside in the stock. Barclays Remains a Buy on Nike (NKE)
• Positive Sentiment: NIKE outperformed the broader market in the latest trading session, suggesting traders may be positioning ahead of upcoming earnings and looking for signs that the turnaround is taking hold. Nike (NKE) Outperforms Broader Market: What You Need to Know
• Positive Sentiment: Coverage highlighted stronger traction in one major market and signs that NIKE’s recovery is gaining momentum, which could improve confidence in the company’s earnings outlook. Headed Into Earnings, Nike Stock Is Trading Lower Than It Was a Decade Ago. But Is the Turnaround Finally Working?

NIKE Company Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).