Larson Financial Group LLC Trims Stake in NIKE, Inc. (NYSE:NKE)

Larson Financial Group LLC lessened its position in shares of NIKE, Inc. (NYSE:NKE) by 19.0% during the first quarter, HoldingsChannel reports. The institutional investor owned 5,460 shares of the footwear maker’s stock after selling 1,281 shares during the quarter. Larson Financial Group LLC’s holdings in NIKE were worth $513,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Piscataqua Savings Bank increased its position in shares of NIKE by 2.1% in the fourth quarter. Piscataqua Savings Bank now owns 4,861 shares of the footwear maker’s stock worth $528,000 after acquiring an additional 100 shares in the last quarter. Physicians Financial Services Inc. raised its stake in NIKE by 0.6% during the 4th quarter. Physicians Financial Services Inc. now owns 16,077 shares of the footwear maker’s stock valued at $1,745,000 after purchasing an additional 100 shares during the period. ZWJ Investment Counsel Inc. lifted its holdings in shares of NIKE by 4.0% in the fourth quarter. ZWJ Investment Counsel Inc. now owns 2,599 shares of the footwear maker’s stock valued at $282,000 after purchasing an additional 100 shares in the last quarter. Kornitzer Capital Management Inc. KS boosted its position in shares of NIKE by 0.4% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 25,568 shares of the footwear maker’s stock worth $2,776,000 after buying an additional 100 shares during the period. Finally, Claro Advisors LLC grew its holdings in shares of NIKE by 0.8% during the fourth quarter. Claro Advisors LLC now owns 12,227 shares of the footwear maker’s stock valued at $1,327,000 after buying an additional 101 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Activity at NIKE

In other news, EVP Monique S. Matheson sold 45,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the transaction, the executive vice president now owns 44,997 shares in the company, valued at $4,236,917.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Monique S. Matheson sold 45,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the completion of the sale, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Johanna Nielsen sold 282 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the transaction, the vice president now directly owns 730 shares in the company, valued at approximately $68,357.20. The disclosure for this sale can be found here. Insiders have sold a total of 213,660 shares of company stock worth $19,946,333 over the last quarter. Company insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on NKE shares. Evercore ISI decreased their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. UBS Group reaffirmed a “neutral” rating and set a $78.00 price objective on shares of NIKE in a research report on Friday, June 28th. Raymond James reiterated a “market perform” rating on shares of NIKE in a research report on Friday, June 28th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of NIKE from $115.00 to $92.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $79.00 price objective (down from $114.00) on shares of NIKE in a report on Friday, June 28th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, NIKE has a consensus rating of “Hold” and a consensus target price of $97.19.

NIKE Stock Performance

NKE stock traded up $0.08 during mid-day trading on Wednesday, hitting $72.54. 21,331,696 shares of the company were exchanged, compared to its average volume of 11,132,691. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. The business has a 50 day simple moving average of $90.63 and a 200-day simple moving average of $96.64. NIKE, Inc. has a 1-year low of $71.67 and a 1-year high of $123.39. The stock has a market capitalization of $109.49 billion, a PE ratio of 19.29, a price-to-earnings-growth ratio of 1.87 and a beta of 1.01.

NIKE (NYSE:NKE) last released its earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating the consensus estimate of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. During the same period last year, the firm earned $0.66 EPS. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, equities analysts forecast that NIKE, Inc. will post 3.17 earnings per share for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were given a dividend of $0.37 per share. The ex-dividend date was Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.04%. NIKE’s dividend payout ratio (DPR) is 39.68%.

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.