RWA Wealth Partners LLC Lowers Stake in NIKE, Inc. (NYSE:NKE)

RWA Wealth Partners LLC lowered its position in NIKE, Inc. (NYSE:NKE - Free Report) by 38.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 145,624 shares of the footwear maker's stock after selling 91,001 shares during the period. RWA Wealth Partners LLC's holdings in NIKE were worth $11,019,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NKE. State Street Corp increased its holdings in NIKE by 3.3% in the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker's stock worth $5,140,796,000 after acquiring an additional 1,862,021 shares during the last quarter. Wellington Management Group LLP grew its stake in NIKE by 5.1% during the third quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker's stock valued at $2,425,886,000 after acquiring an additional 1,343,093 shares in the last quarter. Geode Capital Management LLC increased its holdings in NIKE by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker's stock worth $2,204,451,000 after acquiring an additional 251,411 shares during the period. Bank of New York Mellon Corp lifted its stake in NIKE by 18.1% in the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker's stock worth $1,541,246,000 after purchasing an additional 3,121,929 shares in the last quarter. Finally, Norges Bank bought a new position in NIKE in the 4th quarter valued at $1,126,288,000. Hedge funds and other institutional investors own 64.25% of the company's stock.

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NIKE Stock Performance

NKE traded up $0.52 during mid-day trading on Wednesday, reaching $65.28. 4,788,953 shares of the company traded hands, compared to its average volume of 12,929,838. The stock has a market capitalization of $96.56 billion, a P/E ratio of 20.15, a P/E/G ratio of 2.52 and a beta of 1.02. NIKE, Inc. has a 52-week low of $62.65 and a 52-week high of $98.04. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The company's fifty day moving average price is $73.84 and its 200-day moving average price is $76.72.

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 period in the previous year, the company posted $0.98 EPS. The business's quarterly revenue was down 9.1% compared to the same quarter last year. On average, sell-side analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.45%. The ex-dividend date was Monday, March 3rd. NIKE's dividend payout ratio is presently 53.16%.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the transaction, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Guggenheim reiterated a "buy" rating and issued a $110.00 price objective on shares of NIKE in a research report on Wednesday, February 12th. China Renaissance assumed coverage on shares of NIKE in a research report on Wednesday, March 19th. They set a "hold" rating for the company. Barclays cut their price objective on NIKE from $79.00 to $70.00 and set an "equal weight" rating for the company in a report on Friday, December 20th. DA Davidson upgraded shares of NIKE to a "strong-buy" rating in a research report on Monday, December 23rd. Finally, Evercore ISI reduced their price target on NIKE from $105.00 to $97.00 and set an "outperform" rating on the stock in a research report on Monday, December 16th. Fifteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, NIKE presently has an average rating of "Moderate Buy" and a consensus price target of $87.38.

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.