GM Advisory Group LLC Lowers Stock Position in NIKE, Inc. $NKE

GM Advisory Group LLC lessened its position in shares of NIKE, Inc. (NYSE:NKE) by 51.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,585 shares of the footwear maker’s stock after selling 13,260 shares during the quarter. GM Advisory Group LLC’s holdings in NIKE were worth $878,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Advisory Services Network LLC boosted its stake in shares of NIKE by 0.4% during the 3rd quarter. Advisory Services Network LLC now owns 67,633 shares of the footwear maker’s stock worth $4,716,000 after acquiring an additional 273 shares in the last quarter. Raab & Moskowitz Asset Management LLC grew its position in shares of NIKE by 1.9% during the 3rd quarter. Raab & Moskowitz Asset Management LLC now owns 20,885 shares of the footwear maker’s stock valued at $1,456,000 after acquiring an additional 390 shares during the period. Fulcrum Asset Management LLP purchased a new position in shares of NIKE in the 3rd quarter valued at about $225,000. Eaton Financial Holdings Company LLC raised its holdings in NIKE by 33.1% in the 3rd quarter. Eaton Financial Holdings Company LLC now owns 14,957 shares of the footwear maker’s stock worth $1,043,000 after purchasing an additional 3,716 shares during the period. Finally, Jasper Ridge Partners L.P. raised its holdings in NIKE by 1.0% in the 3rd quarter. Jasper Ridge Partners L.P. now owns 188,370 shares of the footwear maker’s stock worth $13,135,000 after purchasing an additional 1,904 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

NKE has been the topic of several research analyst reports. Berenberg Bank reissued a “neutral” rating and issued a $70.00 price objective on shares of NIKE in a report on Friday, December 19th. Deutsche Bank Aktiengesellschaft set a $67.00 target price on NIKE in a research note on Thursday, January 8th. Oppenheimer reiterated an “outperform” rating on shares of NIKE in a research report on Wednesday, December 17th. The Goldman Sachs Group dropped their price target on shares of NIKE from $77.00 to $76.00 and set a “buy” rating on the stock in a research note on Thursday, January 29th. Finally, Guggenheim reissued a “buy” rating on shares of NIKE in a report on Wednesday, December 31st. Twenty-three research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $74.90.

NIKE Price Performance

Shares of NIKE stock opened at $53.43 on Thursday. The stock has a market capitalization of $79.10 billion, a P/E ratio of 31.43, a PEG ratio of 2.82 and a beta of 1.27. The business has a 50 day simple moving average of $61.94 and a two-hundred day simple moving average of $65.12. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $80.17. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.06 and a quick ratio of 1.40.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, December 18th. The footwear maker reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.16. NIKE had a return on equity of 18.43% and a net margin of 5.43%.The firm had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.19 billion. During the same period in the previous year, the company posted $0.78 earnings per share. The business’s revenue was up .6% on a year-over-year basis. As a group, analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be issued a $0.41 dividend. The ex-dividend date is Monday, March 2nd. This represents a $1.64 dividend on an annualized basis and a yield of 3.1%. NIKE’s dividend payout ratio (DPR) is presently 96.47%.

Insiders Place Their Bets

In other NIKE news, CEO Elliott Hill bought 16,388 shares of the stock in a transaction on Monday, December 29th. The shares were bought at an average price of $61.10 per share, with a total value of $1,001,306.80. Following the purchase, the chief executive officer directly owned 241,587 shares in the company, valued at $14,760,965.70. This trade represents a 7.28% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert Holmes Swan bought 8,691 shares of the stock in a transaction on Monday, December 22nd. The shares were acquired at an average cost of $57.54 per share, for a total transaction of $500,080.14. Following the purchase, the director owned 43,293 shares in the company, valued at $2,491,079.22. The trade was a 25.12% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 75,079 shares of company stock valued at $4,449,887 in the last 90 days. 0.80% of the stock is owned by insiders.

NIKE 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).