1900 Wealth Management LLC Sells 508 Shares of NIKE, Inc. (NYSE:NKE)

1900 Wealth Management LLC trimmed its stake in NIKE, Inc. (NYSE:NKE) by 5.2% during the fourth quarter, Holdings Channel reports. The fund owned 9,324 shares of the footwear maker’s stock after selling 508 shares during the quarter. 1900 Wealth Management LLC’s holdings in NIKE were worth $1,012,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in NKE. Iron Horse Wealth Management LLC increased its position in NIKE by 120.7% in the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after buying an additional 140 shares during the period. Impact Partnership Wealth LLC boosted its stake in NIKE by 220.7% in the 3rd quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock valued at $25,000 after buying an additional 181 shares in the last quarter. Planned Solutions Inc. acquired a new stake in NIKE in the 4th quarter valued at $29,000. Raleigh Capital Management Inc. boosted its stake in NIKE by 134.2% in the 3rd quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock valued at $36,000 after buying an additional 216 shares in the last quarter. Finally, Stephens Consulting LLC boosted its stake in NIKE by 160.0% in the 3rd quarter. Stephens Consulting LLC now owns 390 shares of the footwear maker’s stock valued at $37,000 after buying an additional 240 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

NIKE Price Performance

Shares of NKE stock traded up $0.06 during trading hours on Tuesday, reaching $94.25. The company’s stock had a trading volume of 2,336,040 shares, compared to its average volume of 9,503,817. The firm’s 50 day simple moving average is $97.85 and its 200-day simple moving average is $103.46. The company has a market capitalization of $142.26 billion, a price-to-earnings ratio of 27.84, a PEG ratio of 1.82 and a beta of 1.09. NIKE, Inc. has a fifty-two week low of $88.66 and a fifty-two week high of $128.68. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.29. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The company had revenue of $12.43 billion for the quarter, compared to the consensus estimate of $12.28 billion. Sell-side analysts forecast that NIKE, Inc. will post 3.73 earnings per share for the current year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend was Friday, March 1st. NIKE’s dividend payout ratio (DPR) is 43.53%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NKE. Robert W. Baird cut their price objective on NIKE from $140.00 to $125.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd. Barclays cut their price objective on NIKE from $142.00 to $114.00 and set an “overweight” rating for the company in a research report on Monday, March 25th. UBS Group cut their price objective on NIKE from $138.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Citigroup cut their price objective on NIKE from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, March 14th. Finally, Stifel Nicolaus dropped their target price on NIKE from $129.00 to $117.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $116.26.

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.