Regent Peak Wealth Advisors LLC lowered its holdings in NIKE, Inc. (NYSE:NKE) by 10.9% during the 1st quarter, HoldingsChannel.com reports. The fund owned 2,347 shares of the footwear maker’s stock after selling 287 shares during the quarter. Regent Peak Wealth Advisors LLC’s holdings in NIKE were worth $311,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the business. Key Financial Inc purchased a new position in shares of NIKE during the 4th quarter valued at about $25,000. Tsfg LLC raised its stake in shares of NIKE by 583.3% in the fourth quarter. Tsfg LLC now owns 205 shares of the footwear maker’s stock worth $29,000 after purchasing an additional 175 shares during the last quarter. Addison Advisors LLC purchased a new stake in NIKE during the fourth quarter valued at $30,000. DB Wealth Management Group LLC purchased a new stake in NIKE in the fourth quarter worth about $30,000. Finally, Joseph P. Lucia & Associates LLC bought a new position in shares of NIKE in the fourth quarter worth about $32,000. 64.20% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Peter B. Henry sold 3,388 shares of the business’s stock in a transaction that occurred on Tuesday, April 20th. The shares were sold at an average price of $127.03, for a total value of $430,377.64. Following the sale, the director now directly owns 2,282 shares in the company, valued at approximately $289,882.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Hilary K. Krane sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 14th. The stock was sold at an average price of $133.54, for a total transaction of $2,003,100.00. The disclosure for this sale can be found here. Insiders sold a total of 132,482 shares of company stock worth $17,342,141 over the last quarter. Insiders own 3.80% of the company’s stock.
NIKE (NYSE:NKE) last released its earnings results on Wednesday, March 17th. The footwear maker reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.15. NIKE had a net margin of 7.39% and a return on equity of 34.89%. The business had revenue of $10.40 billion for the quarter, compared to the consensus estimate of $10.98 billion. During the same period in the previous year, the firm earned $0.78 EPS. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. Equities analysts predict that NIKE, Inc. will post 2.96 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, April 1st. Investors of record on Monday, March 1st were issued a $0.275 dividend. The ex-dividend date of this dividend was Friday, February 26th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.84%. NIKE’s payout ratio is currently 59.46%.
NKE has been the subject of a number of recent analyst reports. Williams Financial Group started coverage on NIKE in a research note on Friday, January 22nd. They issued a “buy” rating and a $175.00 price objective for the company. KeyCorp increased their price target on NIKE from $174.00 to $180.00 and gave the company an “overweight” rating in a research note on Monday, January 25th. Cowen upped their price objective on NIKE from $170.00 to $173.00 and gave the company an “outperform” rating in a research report on Tuesday, March 23rd. Credit Suisse Group increased their price target on NIKE from $162.00 to $176.00 and gave the stock an “outperform” rating in a report on Thursday, March 25th. Finally, Robert W. Baird upgraded NIKE from a “neutral” rating to an “outperform” rating and set a $150.00 price objective for the company in a research note on Thursday, April 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirty have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $159.83.
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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