Kingsview Wealth Management LLC Has $1.22 Million Stake in NIKE, Inc. (NYSE:NKE)

Kingsview Wealth Management LLC trimmed its holdings in NIKE, Inc. (NYSE:NKE) by 81.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,179 shares of the footwear maker’s stock after selling 73,010 shares during the period. Kingsview Wealth Management LLC’s holdings in NIKE were worth $1,224,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in NKE. Range Financial Group LLC acquired a new stake in NIKE during the 4th quarter worth approximately $642,000. Cacti Asset Management LLC acquired a new stake in NIKE during the 4th quarter worth approximately $9,987,000. Capricorn Fund Managers Ltd acquired a new stake in NIKE during the 4th quarter worth approximately $5,384,000. Klein Pavlis & Peasley Financial Inc. lifted its holdings in NIKE by 31.1% during the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock worth $1,955,000 after purchasing an additional 6,124 shares during the last quarter. Finally, FNY Investment Advisers LLC increased its stake in NIKE by 5,745.9% during the 4th quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock worth $654,000 after acquiring an additional 8,504 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Citigroup lowered NIKE from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $102.00 to $72.00 in a research note on Friday, February 7th. Evercore ISI lowered their price objective on NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. DA Davidson upgraded NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Royal Bank of Canada lowered their price objective on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. Finally, Wells Fargo & Company lowered their price objective on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research note on Monday, December 16th. Fifteen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, NIKE has an average rating of “Moderate Buy” and a consensus target price of $88.62.

NIKE Stock Up 0.6 %

Shares of NKE opened at $71.35 on Wednesday. The company has a market capitalization of $105.53 billion, a PE ratio of 22.02, a PEG ratio of 2.34 and a beta of 1.01. NIKE, Inc. has a 12 month low of $68.62 and a 12 month high of $107.43. The stock’s 50-day moving average price is $74.95 and its two-hundred day moving average price is $78.09. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last announced its 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 firm had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.03 EPS. On average, analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a dividend of $0.40 per share. The ex-dividend date was Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.24%. NIKE’s payout ratio is presently 49.38%.

Insiders Place Their Bets

In other NIKE news, Director John W. Rogers, Jr. acquired 2,500 shares of the company’s stock in a transaction dated Friday, December 27th. The shares were bought at an average cost of $76.65 per share, with a total value of $191,625.00. Following the purchase, the director now directly owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.