NIKE, Inc. (NYSE:NKE) Shares Sold by BNC Wealth Management LLC

BNC Wealth Management LLC cut its stake in NIKE, Inc. (NYSE:NKE) by 10.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,682 shares of the footwear maker’s stock after selling 526 shares during the period. BNC Wealth Management LLC’s holdings in NIKE were worth $354,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of NKE. Loomis Sayles & Co. L P lifted its position in NIKE by 1,209,638.7% during the third quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock valued at $575,342,000 after buying an additional 6,507,856 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of NIKE by 358.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock worth $228,165,000 after buying an additional 2,357,745 shares during the last quarter. State Street Corp increased its stake in shares of NIKE by 3.3% in the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock worth $5,140,796,000 after buying an additional 1,862,021 shares during the last quarter. Holocene Advisors LP bought a new stake in shares of NIKE in the third quarter worth $148,635,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of NIKE in the third quarter worth $144,927,000. 64.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NKE has been the topic of a number of research reports. Bank of America dropped their target price on shares of NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. JPMorgan Chase & Co. dropped their price objective on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a report on Monday, December 2nd. Telsey Advisory Group cut shares of NIKE from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $93.00 to $80.00 in a report on Friday, December 20th. TD Cowen dropped their price objective on shares of NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, November 18th. Finally, Wells Fargo & Company lowered their target price on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research note on Monday, December 16th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $89.96.

NIKE Stock Performance

NKE stock opened at $70.89 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The stock has a market cap of $104.85 billion, a P/E ratio of 21.88, a P/E/G ratio of 2.26 and a beta of 1.02. The firm has a 50 day simple moving average of $75.77 and a 200 day simple moving average of $77.92. NIKE, Inc. has a 52 week low of $70.32 and a 52 week high of $107.43.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.63 by $0.15. The business had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period last year, the company posted $1.03 earnings per share. Research analysts anticipate that NIKE, Inc. will post 2.1 earnings per share for the current fiscal year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.26%. The ex-dividend date was Monday, December 2nd. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

Insider Activity at NIKE

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of the stock in a transaction dated Friday, December 27th. The shares were acquired at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

NIKE 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.