SVB Wealth LLC Sells 14,173 Shares of NIKE, Inc. (NYSE:NKE)

SVB Wealth LLC lowered its position in NIKE, Inc. (NYSE:NKE) by 13.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 89,425 shares of the footwear maker’s stock after selling 14,173 shares during the period. SVB Wealth LLC’s holdings in NIKE were worth $9,709,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Financial Freedom LLC bought a new stake in shares of NIKE in the 4th quarter valued at $29,000. Iron Horse Wealth Management LLC increased its position in shares of NIKE by 120.7% in the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after buying an additional 140 shares in the last quarter. Impact Partnership Wealth LLC increased its holdings in NIKE by 220.7% during the 3rd quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock worth $25,000 after purchasing an additional 181 shares in the last quarter. Planned Solutions Inc. bought a new position in NIKE during the 4th quarter worth about $29,000. Finally, Worth Asset Management LLC bought a new position in NIKE during the 1st quarter worth about $32,000. Institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NKE. Wells Fargo & Company lowered their target price on NIKE from $125.00 to $120.00 and set an “overweight” rating for the company in a report on Friday, March 22nd. TheStreet cut NIKE from a “b” rating to a “c+” rating in a report on Tuesday, January 9th. Piper Sandler lowered their target price on NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a report on Friday, March 22nd. Telsey Advisory Group lowered their target price on NIKE from $140.00 to $120.00 and set an “outperform” rating for the company in a report on Monday, March 18th. Finally, Morgan Stanley lowered their target price on NIKE from $124.00 to $116.00 and set an “overweight” rating for the company in a report on Wednesday, March 27th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $116.26.

NIKE Stock Performance

Shares of NYSE:NKE opened at $93.38 on Wednesday. The company’s 50 day simple moving average is $98.65 and its 200 day simple moving average is $103.48. The stock has a market capitalization of $140.94 billion, a price-to-earnings ratio of 27.46, a price-to-earnings-growth ratio of 1.80 and a beta of 1.08. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. NIKE, Inc. has a 1 year low of $88.66 and a 1 year high of $128.68.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The firm had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.28 billion. As a group, research analysts predict that NIKE, Inc. will post 3.73 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were issued a dividend of $0.37 per share. The ex-dividend date was Friday, March 1st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.58%. NIKE’s dividend payout ratio (DPR) is presently 43.53%.

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.