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

Tritonpoint Wealth LLC trimmed its holdings in NIKE, Inc. (NYSE:NKE) by 24.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,571 shares of the footwear maker’s stock after selling 1,795 shares during the period. Tritonpoint Wealth LLC’s holdings in NIKE were worth $424,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Teachers Insurance & Annuity Association of America purchased a new stake in shares of NIKE during the 3rd quarter valued at approximately $30,000. Heck Capital Advisors LLC acquired a new position in shares of NIKE in the 4th quarter valued at $28,000. VitalStone Financial LLC grew its holdings in shares of NIKE by 52.6% during the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 150 shares during the period. Dunhill Financial LLC increased its position in shares of NIKE by 52.2% during the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after purchasing an additional 169 shares during the last quarter. Finally, Riverview Trust Co purchased a new stake in NIKE in the 3rd quarter valued at about $52,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on NKE shares. UBS Group reiterated a “neutral” rating and set a $73.00 price target on shares of NIKE in a research report on Thursday, December 26th. Deutsche Bank Aktiengesellschaft cut their target price on NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research report on Monday, December 16th. Royal Bank of Canada lowered their price target on NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research report on Thursday, November 7th. DA Davidson upgraded NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Finally, Wells Fargo & Company lowered their target price on NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a report on Monday, December 16th. Fourteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.96.

NIKE Stock Performance

NYSE NKE opened at $76.82 on Monday. The company has a fifty day moving average of $75.60 and a two-hundred day moving average of $78.03. The company has a market capitalization of $113.62 billion, a PE ratio of 23.71, a P/E/G ratio of 2.44 and a beta of 1.02. NIKE, Inc. has a 1 year low of $70.32 and a 1 year high of $107.43. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same period in the prior year, the firm earned $1.03 EPS. The business’s revenue was down 7.7% on a year-over-year basis. As a group, analysts expect that NIKE, Inc. will post 2.09 earnings per share for the current year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.08%. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

Insider Buying and Selling at NIKE

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of the stock in a transaction that occurred on Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the transaction, the director now directly owns 34,403 shares in the company, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Company 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.