Lake Street Financial LLC Sells 142 Shares of NIKE, Inc. (NYSE:NKE)


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Lake Street Financial LLC trimmed its holdings in NIKE, Inc. (NYSE:NKE) by 1.7% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 8,053 shares of the footwear maker’s stock after selling 142 shares during the quarter. Lake Street Financial LLC’s holdings in NIKE were worth $1,070,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Altium Wealth Management LLC lifted its holdings in shares of NIKE by 7.4% in the 4th quarter. Altium Wealth Management LLC now owns 13,338 shares of the footwear maker’s stock worth $1,887,000 after acquiring an additional 916 shares during the last quarter. Ninety One North America Inc. lifted its holdings in shares of NIKE by 4.4% in the 4th quarter. Ninety One North America Inc. now owns 58,681 shares of the footwear maker’s stock worth $8,302,000 after acquiring an additional 2,496 shares during the last quarter. EFG Asset Management Americas Corp. raised its holdings in NIKE by 4.4% during the 4th quarter. EFG Asset Management Americas Corp. now owns 60,956 shares of the footwear maker’s stock valued at $8,629,000 after buying an additional 2,559 shares during the last quarter. SOA Wealth Advisors LLC. bought a new stake in NIKE during the 4th quarter valued at $4,074,000. Finally, Mariner LLC raised its holdings in NIKE by 22.9% during the 4th quarter. Mariner LLC now owns 324,369 shares of the footwear maker’s stock valued at $45,889,000 after buying an additional 60,384 shares during the last quarter. Hedge funds and other institutional investors own 64.20% of the company’s stock.

NYSE NKE traded down $1.81 on Monday, hitting $132.50. 192,905 shares of the stock traded hands, compared to its average volume of 6,255,981. The company has a current ratio of 2.66, a quick ratio of 1.97 and a debt-to-equity ratio of 0.88. The stock has a 50-day moving average of $135.84 and a 200 day moving average of $135.61. The company has a market capitalization of $209.35 billion, a P/E ratio of 76.69, a price-to-earnings-growth ratio of 2.51 and a beta of 0.83. NIKE, Inc. has a twelve month low of $84.11 and a twelve month high of $147.95.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Wednesday, March 17th. The footwear maker reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.15. The firm had revenue of $10.40 billion during the quarter, compared to analyst estimates of $10.98 billion. NIKE had a return on equity of 34.89% and a net margin of 7.39%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the company posted $0.78 EPS. As a group, equities research analysts expect that NIKE, Inc. will post 2.96 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 1st. Stockholders of record on Monday, March 1st were given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 0.83%. The ex-dividend date was Friday, February 26th. NIKE’s dividend payout ratio is currently 59.46%.

In other NIKE news, CAO Hilary K. Krane sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, April 14th. The shares were sold at an average price of $133.54, for a total transaction of $2,003,100.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mark G. Parker sold 114,094 shares of the firm’s stock in a transaction dated Friday, March 26th. The stock was sold at an average price of $130.67, for a total transaction of $14,908,662.98. Following the transaction, the chairman now owns 1,537,729 shares of the company’s stock, valued at approximately $200,935,048.43. The disclosure for this sale can be found here. Company insiders own 3.80% of the company’s stock.

Several brokerages have commented on NKE. UBS Group set a $183.00 price objective on shares of NIKE and gave the stock a “buy” rating in a report on Friday, March 19th. Credit Suisse Group upped their target price on shares of NIKE from $162.00 to $176.00 and gave the stock an “outperform” rating in a research report on Thursday, March 25th. DZ Bank reaffirmed a “sell” rating on shares of NIKE in a research report on Monday, January 4th. The Goldman Sachs Group set a $164.00 target price on shares of NIKE and gave the stock a “buy” rating in a research report on Monday, January 4th. Finally, Cowen increased their price objective on shares of NIKE from $170.00 to $173.00 and gave the company an “outperform” rating in a research report on Tuesday, March 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirty-one have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $159.89.

NIKE Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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