NIKE, Inc. $NKE Shares Sold by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 6.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 166,078 shares of the footwear maker’s stock after selling 10,896 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in NIKE were worth $10,581,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in NKE. Guerra Advisors Inc acquired a new position in shares of NIKE during the third quarter worth approximately $34,000. Gordian Capital Singapore Pte Ltd acquired a new position in shares of NIKE during the third quarter worth approximately $35,000. Accredited Wealth Management LLC boosted its position in shares of NIKE by 268.6% during the third quarter. Accredited Wealth Management LLC now owns 516 shares of the footwear maker’s stock worth $36,000 after buying an additional 376 shares during the period. Matrix Trust Co boosted its position in shares of NIKE by 43.6% during the fourth quarter. Matrix Trust Co now owns 596 shares of the footwear maker’s stock worth $38,000 after buying an additional 181 shares during the period. Finally, Ares Financial Consulting LLC acquired a new position in shares of NIKE during the fourth quarter worth approximately $40,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Price Performance

NYSE NKE opened at $45.93 on Tuesday. The stock has a market capitalization of $68.01 billion, a P/E ratio of 30.42, a P/E/G ratio of 2.45 and a beta of 1.12. NIKE, Inc. has a 1 year low of $41.35 and a 1 year high of $80.17. The business’s fifty day moving average is $45.60 and its two-hundred day moving average is $56.61. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.45 and a current ratio of 2.14.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.06. The company had revenue of $11.28 billion for the quarter, compared to analysts’ expectations of $11.23 billion. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The firm’s revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.54 earnings per share. On average, research analysts forecast that NIKE, Inc. will post 1.51 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a $0.41 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.64 annualized dividend and a dividend yield of 3.6%. NIKE’s dividend payout ratio is currently 108.61%.

Insider Buying and Selling

In other news, Director Robert Holmes Swan bought 11,781 shares of the business’s stock in a transaction on Tuesday, April 7th. The shares were bought at an average cost of $42.44 per share, with a total value of $499,985.64. Following the purchase, the director directly owned 55,074 shares in the company, valued at $2,337,340.56. This trade represents a 27.21% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Timothy D. Cook bought 25,000 shares of the business’s stock in a transaction on Friday, April 10th. The shares were purchased at an average cost of $42.43 per share, for a total transaction of $1,060,750.00. Following the completion of the purchase, the director owned 130,480 shares in the company, valued at approximately $5,536,266.40. This trade represents a 23.70% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 64,441 shares of company stock worth $2,734,204 over the last three months. Corporate insiders own 0.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NKE. Barclays dropped their target price on NIKE from $73.00 to $67.00 and set an “overweight” rating on the stock in a report on Wednesday, April 1st. BNP Paribas Exane dropped their target price on NIKE from $35.00 to $23.00 and set an “underperform” rating on the stock in a report on Wednesday, April 1st. Royal Bank Of Canada reissued a “buy” rating on shares of NIKE in a report on Wednesday, April 1st. Bank of America reissued a “neutral” rating and set a $55.00 target price (down from $73.00) on shares of NIKE in a report on Wednesday, April 1st. Finally, Weiss Ratings raised NIKE from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, May 22nd. Sixteen analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, NIKE has a consensus rating of “Hold” and an average price target of $62.04.

NIKE Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).