Spire Wealth Management Sells 1,180 Shares of NIKE, Inc. (NYSE:NKE)

Spire Wealth Management cut its position in NIKE, Inc. (NYSE:NKE) by 6.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,331 shares of the footwear maker’s stock after selling 1,180 shares during the period. Spire Wealth Management’s holdings in NIKE were worth $1,866,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Metis Global Partners LLC grew its stake in NIKE by 15.2% during the fourth quarter. Metis Global Partners LLC now owns 59,830 shares of the footwear maker’s stock valued at $6,496,000 after acquiring an additional 7,915 shares in the last quarter. Clearstead Trust LLC increased its holdings in shares of NIKE by 612.8% in the fourth quarter. Clearstead Trust LLC now owns 4,469 shares of the footwear maker’s stock worth $485,000 after purchasing an additional 3,842 shares during the last quarter. Connecticut Wealth Management LLC lifted its position in shares of NIKE by 9.7% in the fourth quarter. Connecticut Wealth Management LLC now owns 12,417 shares of the footwear maker’s stock worth $1,348,000 after buying an additional 1,101 shares in the last quarter. Noesis Capital Mangement Corp boosted its stake in NIKE by 2.9% during the fourth quarter. Noesis Capital Mangement Corp now owns 126,528 shares of the footwear maker’s stock valued at $13,737,000 after buying an additional 3,564 shares during the last quarter. Finally, TCG Advisory Services LLC purchased a new position in NIKE during the 4th quarter valued at approximately $291,000. 64.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on NKE. The Goldman Sachs Group decreased their price objective on NIKE from $135.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Bank of America raised shares of NIKE from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $110.00 to $113.00 in a research note on Thursday, April 11th. Royal Bank of Canada restated a “sector perform” rating and set a $100.00 target price (down from $110.00) on shares of NIKE in a research report on Friday, March 22nd. Morgan Stanley reduced their price objective on NIKE from $124.00 to $116.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 27th. Finally, Jefferies Financial Group lowered their price objective on NIKE from $110.00 to $100.00 and set a “hold” rating for the company in a research note on Friday, March 22nd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.26.

NIKE Price Performance

Shares of NYSE NKE opened at $93.60 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. The firm has a market cap of $141.28 billion, a PE ratio of 27.58, a PEG ratio of 1.78 and a beta of 1.07. NIKE, Inc. has a one year low of $88.66 and a one year high of $126.46. The firm has a fifty day moving average of $95.28 and a 200 day moving average of $102.91.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, topping the consensus estimate of $0.69 by $0.29. The company had revenue of $12.43 billion during the quarter, compared to analyst estimates of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. As a group, research analysts predict that NIKE, Inc. will post 3.73 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Monday, June 3rd. NIKE’s dividend payout ratio (DPR) is 43.53%.

NIKE Company 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.