AllSquare Wealth Management LLC Lowers Stake in NIKE, Inc. (NYSE:NKE)


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AllSquare Wealth Management LLC lessened its stake in NIKE, Inc. (NYSE:NKE) by 14.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 625 shares of the footwear maker’s stock after selling 102 shares during the quarter. AllSquare Wealth Management LLC’s holdings in NIKE were worth $88,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in NKE. Key Financial Inc bought a new position in NIKE during the 4th quarter worth about $25,000. Adams Wealth Management purchased a new stake in shares of NIKE in the 3rd quarter worth approximately $28,000. Tsfg LLC boosted its stake in shares of NIKE by 583.3% during the fourth quarter. Tsfg LLC now owns 205 shares of the footwear maker’s stock valued at $29,000 after purchasing an additional 175 shares in the last quarter. Addison Advisors LLC purchased a new position in NIKE during the fourth quarter valued at approximately $30,000. Finally, DB Wealth Management Group LLC purchased a new position in NIKE during the fourth quarter valued at approximately $30,000. Institutional investors own 64.20% of the company’s stock.

In other news, VP Chris L. Abston sold 20,000 shares of the business’s stock in a transaction dated Wednesday, December 30th. The stock was sold at an average price of $142.16, for a total transaction of $2,843,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Chris L. Abston sold 30,000 shares of the company’s stock in a transaction on Thursday, January 7th. The shares were sold at an average price of $145.00, for a total transaction of $4,350,000.00. Over the last three months, insiders sold 444,500 shares of company stock worth $62,461,870. 3.80% of the stock is owned by corporate insiders.

Several brokerages recently issued reports on NKE. Piper Sandler upped their target price on NIKE from $153.00 to $168.00 and gave the company an “overweight” rating in a research report on Monday, December 21st. Williams Financial Group started coverage on NIKE in a research note on Friday, January 22nd. They issued a “buy” rating and a $175.00 target price for the company. Smith Barney Citigroup lifted their price target on NIKE from $137.00 to $157.00 in a research report on Monday, December 21st. KeyCorp increased their price target on NIKE from $174.00 to $180.00 and gave the stock an “overweight” rating in a research report on Monday, January 25th. Finally, Wells Fargo & Company upped their target price on NIKE from $146.00 to $157.00 and gave the stock an “overweight” rating in a research note on Monday, December 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-nine have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $154.63.

NYSE NKE traded down $2.47 during trading hours on Tuesday, hitting $134.20. 530,184 shares of the company were exchanged, compared to its average volume of 5,287,014. The company has a quick ratio of 1.97, a current ratio of 2.66 and a debt-to-equity ratio of 0.88. The firm has a market cap of $211.56 billion, a price-to-earnings ratio of 76.61, a PEG ratio of 2.51 and a beta of 0.83. The company has a 50 day moving average of $141.23 and a two-hundred day moving average of $129.43. NIKE, Inc. has a 52-week low of $60.00 and a 52-week high of $147.95.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 17th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.15. NIKE had a return on equity of 34.89% and a net margin of 7.39%. The company had revenue of $11.24 billion during the quarter, compared to the consensus estimate of $10.51 billion. During the same period in the previous year, the business earned $0.70 EPS. NIKE’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, equities research analysts predict that NIKE, Inc. will post 2.96 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 1st. Investors of record on Monday, March 1st will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend is Friday, February 26th. NIKE’s dividend payout ratio is presently 59.46%.

About NIKE

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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