Robertson Stephens Wealth Management LLC Reduces Stock Position in NIKE, Inc. (NYSE:NKE)

Robertson Stephens Wealth Management LLC lowered its stake in NIKE, Inc. (NYSE:NKE) by 33.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,056 shares of the footwear maker’s stock after selling 2,986 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in NIKE were worth $461,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp raised its position in 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 acquiring an additional 1,862,021 shares during the period. Wellington Management Group LLP raised its position in NIKE by 5.1% in the third 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 raised its position in NIKE by 1.0% in the third quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock worth $2,204,451,000 after acquiring an additional 251,411 shares during the period. Fisher Asset Management LLC raised its position in NIKE by 6.0% in the third quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock worth $910,801,000 after acquiring an additional 583,207 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in 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 acquiring an additional 117,187 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of the company’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 purchase, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is owned by corporate insiders.

NIKE Stock Performance

Shares of NYSE:NKE opened at $68.69 on Friday. NIKE, Inc. has a 52 week low of $68.62 and a 52 week high of $107.43. The stock has a market capitalization of $101.60 billion, a P/E ratio of 21.20, a PEG ratio of 2.50 and a beta of 1.01. The firm has a fifty day simple moving average of $75.32 and a two-hundred day simple moving average of $78.05. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same period last year, the company posted $1.03 EPS. The business’s revenue was down 7.7% on a year-over-year basis. On average, analysts expect that NIKE, Inc. will post 2.05 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. Shareholders of record on Monday, December 2nd were paid a $0.40 dividend. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend was Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NKE. Morgan Stanley decreased their price target on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Evercore ISI decreased their price target on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Stifel Nicolaus decreased their price objective on shares of NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research report on Friday, December 20th. JPMorgan Chase & Co. decreased their price objective on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research report on Monday, December 2nd. Finally, Royal Bank of Canada decreased their price objective on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 7th. Fifteen research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.62.

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.