Avitas Wealth Management LLC Has $320,000 Stake in NIKE, Inc. (NYSE:NKE)

Avitas Wealth Management LLC reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 32.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 4,229 shares of the footwear maker’s stock after selling 1,989 shares during the period. Avitas Wealth Management LLC’s holdings in NIKE were worth $320,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of NIKE by 3.3% during the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after buying an additional 1,862,021 shares in the last quarter. Wellington Management Group LLP boosted its position in NIKE by 5.1% during the 3rd quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock worth $2,425,886,000 after acquiring an additional 1,343,093 shares during the period. Geode Capital Management LLC grew its stake in NIKE by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock valued at $2,204,451,000 after acquiring an additional 251,411 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of NIKE by 6.0% in the 3rd quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock valued at $910,801,000 after purchasing an additional 583,207 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of NIKE by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,602,534 shares of the footwear maker’s stock worth $760,716,000 after purchasing an additional 117,187 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at NIKE

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the acquisition, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.10% of the stock is owned by insiders.

NIKE Stock Performance

NYSE NKE opened at $74.60 on Thursday. NIKE, Inc. has a twelve month low of $70.32 and a twelve month high of $107.43. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The stock has a market cap of $110.34 billion, a P/E ratio of 23.02, a PEG ratio of 2.50 and a beta of 1.01. The company’s 50-day simple moving average is $75.53 and its 200 day simple moving average is $78.12.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 36.99% and a net margin of 9.98%. NIKE’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.03 EPS. As a group, research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.14%. The ex-dividend date was Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is currently 49.38%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NKE. Telsey Advisory Group downgraded shares of NIKE from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $93.00 to $80.00 in a research report on Friday, December 20th. TD Cowen lowered their price target 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. JPMorgan Chase & Co. cut their price objective on NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a report on Monday, December 2nd. Morgan Stanley dropped their target price on NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Finally, Evercore ISI reduced their price target on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Fourteen investment 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 company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $89.77.

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.