Cary Street Partners Investment Advisory LLC Trims Position in NIKE, Inc. (NYSE:NKE)

Cary Street Partners Investment Advisory LLC decreased its holdings in NIKE, Inc. (NYSE:NKE) by 65.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,727 shares of the footwear maker’s stock after selling 5,253 shares during the quarter. Cary Street Partners Investment Advisory LLC’s holdings in NIKE were worth $296,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. FMR LLC raised its holdings in NIKE by 0.7% in the 3rd quarter. FMR LLC now owns 18,502,409 shares of the footwear maker’s stock worth $1,769,200,000 after purchasing an additional 125,746 shares in the last quarter. Northern Trust Corp lifted its holdings in NIKE by 4.5% in the third quarter. Northern Trust Corp now owns 15,557,676 shares of the footwear maker’s stock worth $1,487,625,000 after buying an additional 674,198 shares during the period. Charles Schwab Investment Management Inc. boosted its position in NIKE by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,200,932 shares of the footwear maker’s stock valued at $766,829,000 after acquiring an additional 89,947 shares in the last quarter. Newport Trust Company LLC purchased a new position in shares of NIKE during the 3rd quarter worth approximately $679,775,000. Finally, Massachusetts Financial Services Co. MA raised its position in shares of NIKE by 37.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,791,531 shares of the footwear maker’s stock worth $553,786,000 after acquiring an additional 1,583,541 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Trading Down 2.1 %

Shares of NYSE:NKE opened at $90.32 on Thursday. The stock’s 50-day simple moving average is $96.25 and its two-hundred day simple moving average is $103.19. NIKE, Inc. has a 52-week low of $88.66 and a 52-week high of $128.38. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. The stock has a market capitalization of $136.32 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 1.78 and a beta of 1.07.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS 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 business had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $12.28 billion. Analysts expect that NIKE, Inc. will post 3.73 EPS for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.64%. The ex-dividend date was Friday, March 1st. NIKE’s dividend payout ratio is presently 43.53%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NKE. Stifel Nicolaus dropped their price target on NIKE from $129.00 to $117.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Williams Trading restated a “sell” rating and set a $85.00 target price (down previously from $92.00) on shares of NIKE in a report on Monday, March 18th. UBS Group decreased their price target on shares of NIKE from $138.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Barclays dropped their price objective on shares of NIKE from $142.00 to $114.00 and set an “overweight” rating on the stock in a research note on Monday, March 25th. Finally, The Goldman Sachs Group cut their price objective on shares of NIKE from $135.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $116.26.

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.