HB Wealth Management LLC Sells 30,275 Shares of NIKE, Inc. (NYSE:NKE)

HB Wealth Management LLC lowered its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 41.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,083 shares of the footwear maker's stock after selling 30,275 shares during the period. HB Wealth Management LLC's holdings in NIKE were worth $3,184,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in NKE. Teachers Insurance & Annuity Association of America purchased a new position in shares of NIKE during the third quarter valued at about $30,000. VitalStone Financial LLC boosted its position in NIKE by 52.6% during the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker's stock valued at $38,000 after acquiring an additional 150 shares in the last quarter. Dunhill Financial LLC grew its holdings in shares of NIKE by 52.2% during the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker's stock worth $44,000 after acquiring an additional 169 shares during the period. Ecofi Investissements SA bought a new position in shares of NIKE in the 2nd quarter worth approximately $49,000. Finally, Riverview Trust Co purchased a new position in shares of NIKE in the 3rd quarter valued at approximately $52,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NIKE

In other news, Director John W. Rogers, Jr. bought 2,500 shares of the company's stock in a transaction that occurred on Friday, December 27th. The stock was bought at an average price of $76.65 per share, with a total value of $191,625.00. Following the acquisition, the director now owns 34,403 shares of the company's stock, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.10% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on NKE. Barclays dropped their target price on shares of NIKE from $79.00 to $70.00 and set an "equal weight" rating on the stock in a report on Friday, December 20th. Wells Fargo & Company dropped their price objective on shares of NIKE from $95.00 to $92.00 and set an "overweight" rating on the stock in a research note on Monday, December 16th. JPMorgan Chase & Co. decreased their target price on shares of NIKE from $77.00 to $73.00 and set a "neutral" rating for the company in a research note on Monday, December 2nd. Deutsche Bank Aktiengesellschaft dropped their price target on NIKE from $92.00 to $82.00 and set a "buy" rating on the stock in a research report on Monday, December 16th. Finally, Bank of America reduced their price objective on NIKE from $95.00 to $90.00 and set a "buy" rating for the company in a research report on Friday, December 20th. Fourteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, NIKE presently has an average rating of "Moderate Buy" and an average price target of $89.96.

NIKE Stock Performance

Shares of NYSE:NKE traded down $0.22 during trading on Monday, hitting $70.89. The company's stock had a trading volume of 9,688,434 shares, compared to its average volume of 11,668,856. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The firm has a market cap of $104.85 billion, a price-to-earnings ratio of 21.88, a P/E/G ratio of 2.26 and a beta of 1.02. The company has a 50-day moving average of $75.77 and a 200-day moving average of $77.95. NIKE, Inc. has a 12 month low of $70.32 and a 12 month high of $107.43.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. During the same period last year, the firm earned $1.03 earnings per share. The company's quarterly revenue was down 7.7% on a year-over-year basis. On average, sell-side analysts expect that NIKE, Inc. will post 2.1 earnings per share for the current year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were given a $0.40 dividend. This is a boost from NIKE's previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.26%. NIKE's dividend payout ratio is presently 49.38%.

About NIKE

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.