Northwestern Mutual Wealth Management Co. Has $10.58 Million Position in NIKE, Inc. $NKE

Northwestern Mutual Wealth Management Co. reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 6.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 166,078 shares of the footwear maker’s stock after selling 10,896 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in NIKE were worth $10,581,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Guerra Advisors Inc acquired a new stake in NIKE during the 3rd quarter valued at $34,000. Gordian Capital Singapore Pte Ltd purchased a new position in shares of NIKE during the 3rd quarter valued at $35,000. Accredited Wealth Management LLC grew its holdings in shares of NIKE by 268.6% during the 3rd quarter. Accredited Wealth Management LLC now owns 516 shares of the footwear maker’s stock valued at $36,000 after acquiring an additional 376 shares in the last quarter. Matrix Trust Co grew its holdings in shares of NIKE by 43.6% during the 4th quarter. Matrix Trust Co now owns 596 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 181 shares in the last quarter. Finally, Ares Financial Consulting LLC purchased a new position in shares of NIKE during the 4th quarter valued at $40,000. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Trading Down 0.7%

Shares of NYSE:NKE opened at $45.93 on Tuesday. The stock has a market capitalization of $68.01 billion, a PE ratio of 30.42, a P/E/G ratio of 2.45 and a beta of 1.12. NIKE, Inc. has a 1 year low of $41.35 and a 1 year high of $80.17. The firm has a fifty day moving average price of $45.60 and a 200 day moving average price of $56.61. The company has a current ratio of 2.14, a quick ratio of 1.45 and a debt-to-equity ratio of 0.50.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. The firm had revenue of $11.28 billion during the quarter, compared to analysts’ expectations of $11.23 billion. NIKE had a net margin of 4.84% and a return on equity of 16.41%. NIKE’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the prior year, the company posted $0.54 earnings per share. Analysts expect that NIKE, Inc. will post 1.51 EPS for the current fiscal year.

NIKE Announces Dividend

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

Insider Activity

In other news, CEO Elliott Hill purchased 23,660 shares of the firm’s stock in a transaction on Monday, April 13th. The stock was bought at an average cost of $42.27 per share, for a total transaction of $1,000,108.20. Following the completion of the acquisition, the chief executive officer directly owned 265,247 shares of the company’s stock, valued at approximately $11,211,990.69. The trade was a 9.79% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy D. Cook purchased 25,000 shares of the firm’s stock in a transaction on Friday, April 10th. The shares were purchased at an average price of $42.43 per share, with a total value of $1,060,750.00. Following the completion of the acquisition, the director directly owned 130,480 shares of the company’s stock, valued at approximately $5,536,266.40. This trade represents a 23.70% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased 64,441 shares of company stock valued at $2,734,204 over the last three months. 0.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NKE. DZ Bank restated a “buy” rating on shares of NIKE in a report on Tuesday, April 21st. The Goldman Sachs Group restated a “neutral” rating and set a $52.00 price target (down from $76.00) on shares of NIKE in a report on Wednesday, April 1st. Guggenheim lowered their price target on shares of NIKE from $77.00 to $74.00 and set a “buy” rating on the stock in a report on Wednesday, April 1st. Wall Street Zen upgraded shares of NIKE from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Bank of America restated a “neutral” rating and set a $55.00 price target (down from $73.00) on shares of NIKE in a report on Wednesday, April 1st. Sixteen research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $62.04.

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).