FAS Wealth Partners Inc. Sells 506 Shares of NIKE, Inc. (NYSE:NKE)

FAS Wealth Partners Inc. reduced its position in NIKE, Inc. (NYSE:NKE) by 5.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,433 shares of the footwear maker’s stock after selling 506 shares during the quarter. FAS Wealth Partners Inc.’s holdings in NIKE were worth $636,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Annapolis Financial Services LLC lifted its position in shares of NIKE by 440.0% during the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 220 shares during the period. True Wealth Design LLC grew its position in NIKE by 106.4% during the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after buying an additional 150 shares during the period. Frank Rimerman Advisors LLC bought a new position in NIKE during the fourth quarter worth about $33,000. Core Wealth Advisors Inc. boosted its position in NIKE by 408.5% during the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after purchasing an additional 241 shares during the period. Finally, Gold Investment Management Ltd. bought a new position in NIKE during the fourth quarter worth about $36,000. 64.25% of the stock is owned by institutional investors.

NIKE Stock Performance

Shares of NYSE:NKE traded up $0.47 during trading on Thursday, hitting $83.26. The company’s stock had a trading volume of 6,340,753 shares, compared to its average volume of 11,434,088. The company has a 50-day moving average of $78.43 and a 200-day moving average of $89.81. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The firm has a market cap of $125.67 billion, a price-to-earnings ratio of 22.32, a P/E/G ratio of 1.92 and a beta of 1.01.

NIKE (NYSE:NKE) last released its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.16. The company had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.66 EPS. On average, sell-side analysts expect that NIKE, Inc. will post 3.12 earnings per share for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is currently 39.68%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. StockNews.com cut shares of NIKE from a “buy” rating to a “hold” rating in a research note on Friday, June 21st. HSBC lowered their price objective on shares of NIKE from $100.00 to $90.00 and set a “hold” rating for the company in a report on Friday, June 28th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of NIKE from $115.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Guggenheim decreased their target price on shares of NIKE from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Finally, TD Cowen reduced their price objective on shares of NIKE from $75.00 to $71.00 and set a “hold” rating on the stock in a research report on Thursday, July 25th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $95.59.

Insider Buying and Selling at NIKE

In related news, Director Robert Holmes Swan acquired 2,941 shares of the business’s stock in a transaction on Friday, June 28th. The stock was acquired at an average cost of $77.02 per share, with a total value of $226,515.82. Following the acquisition, the director now directly owns 20,946 shares in the company, valued at approximately $1,613,260.92. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Robert Holmes Swan acquired 2,941 shares of the business’s stock in a transaction on Friday, June 28th. The stock was acquired at an average cost of $77.02 per share, with a total value of $226,515.82. Following the acquisition, the director now directly owns 20,946 shares in the company, valued at approximately $1,613,260.92. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

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.