IHT Wealth Management LLC Sells 7,246 Shares of NIKE, Inc. (NYSE:NKE)

IHT Wealth Management LLC decreased its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 38.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,454 shares of the footwear maker's stock after selling 7,246 shares during the period. IHT Wealth Management LLC's holdings in NIKE were worth $867,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its stake in shares of NIKE by 32.4% in the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock valued at $2,749,903,000 after acquiring an additional 8,898,591 shares during the last quarter. Geode Capital Management LLC raised its position in NIKE by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker's stock valued at $1,915,110,000 after purchasing an additional 347,178 shares during the last quarter. Capital World Investors boosted its stake in shares of NIKE by 10.3% during the fourth quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock valued at $1,857,389,000 after purchasing an additional 2,288,627 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of NIKE by 18.1% during the fourth quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker's stock valued at $1,541,246,000 after purchasing an additional 3,121,929 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of NIKE during the fourth quarter worth about $1,126,288,000. Institutional investors and hedge funds own 64.25% of the company's stock.

NIKE Stock Up 2.0 %

Shares of NYSE NKE opened at $58.53 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $98.04. The stock has a market capitalization of $86.57 billion, a P/E ratio of 18.06, a P/E/G ratio of 2.52 and a beta of 1.15. The company has a 50-day moving average price of $67.15 and a 200-day moving average price of $73.17.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. During the same quarter in the previous year, the business earned $0.98 EPS. The company's quarterly revenue was down 9.1% on a year-over-year basis. On average, equities research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.73%. The ex-dividend date was Monday, March 3rd. NIKE's dividend payout ratio (DPR) is presently 53.16%.

Wall Street Analyst Weigh In

NKE has been the topic of several recent research reports. Cfra Research upgraded shares of NIKE to a "moderate buy" rating in a research report on Friday, March 21st. Needham & Company LLC reduced their price objective on shares of NIKE from $84.00 to $80.00 and set a "buy" rating on the stock in a research note on Monday, March 17th. Robert W. Baird decreased their price objective on NIKE from $105.00 to $99.00 and set an "outperform" rating for the company in a report on Friday, March 21st. Telsey Advisory Group reaffirmed a "market perform" rating and set a $80.00 target price on shares of NIKE in a report on Monday, March 17th. Finally, Stifel Nicolaus decreased their price target on NIKE from $75.00 to $64.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. Sixteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $83.19.

Insiders Place Their Bets

In other news, Director Robert Holmes Swan bought 8,600 shares of the company's stock in a transaction on Friday, April 4th. The shares were purchased at an average price of $58.46 per share, with a total value of $502,756.00. Following the transaction, the director now directly owns 31,983 shares in the company, valued at $1,869,726.18. This represents a 36.78 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the company's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the transaction, the chairman now directly owns 896,632 shares of the company's stock, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company's stock.

NIKE Profile

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.

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