Crestwood Advisors Group LLC Decreases Stock Position in NIKE, Inc. (NYSE:NKE)

Crestwood Advisors Group LLC lowered its stake in NIKE, Inc. (NYSE:NKE) by 4.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,507 shares of the footwear maker’s stock after selling 2,116 shares during the period. Crestwood Advisors Group LLC’s holdings in NIKE were worth $6,579,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NKE. Community Trust & Investment Co. increased its holdings in shares of NIKE by 1.7% in the third quarter. Community Trust & Investment Co. now owns 85,379 shares of the footwear maker’s stock worth $10,718,000 after buying an additional 1,416 shares during the period. MAI Capital Management increased its holdings in shares of NIKE by 1.6% in the third quarter. MAI Capital Management now owns 167,474 shares of the footwear maker’s stock worth $21,025,000 after buying an additional 2,577 shares during the period. Prestige Wealth Management Group LLC increased its holdings in shares of NIKE by 29.9% in the third quarter. Prestige Wealth Management Group LLC now owns 2,431 shares of the footwear maker’s stock worth $305,000 after buying an additional 559 shares during the period. Perennial Investment Advisors LLC increased its holdings in shares of NIKE by 9.4% in the third quarter. Perennial Investment Advisors LLC now owns 3,325 shares of the footwear maker’s stock worth $419,000 after buying an additional 285 shares during the period. Finally, Landsberg Bennett & Dubbaneh LLC increased its holdings in shares of NIKE by 55.9% in the third quarter. Landsberg Bennett & Dubbaneh LLC now owns 53,936 shares of the footwear maker’s stock worth $6,815,000 after buying an additional 19,350 shares during the period. Hedge funds and other institutional investors own 64.20% of the company’s stock.

NKE traded down $2.52 during mid-day trading on Tuesday, reaching $134.15. 539,970 shares of the company traded hands, compared to its average volume of 5,287,014. The stock has a market capitalization of $211.49 billion, a P/E ratio of 76.61, a P/E/G ratio of 2.51 and a beta of 0.83. 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 company’s fifty day moving average price is $141.23 and its 200-day moving average price is $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 earnings results on Thursday, December 17th. The footwear maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The business had revenue of $11.24 billion during the quarter, compared to analyst estimates of $10.51 billion. NIKE had a net margin of 7.39% and a return on equity of 34.89%. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.70 EPS. As a group, sell-side analysts forecast that NIKE, Inc. will post 2.96 earnings per share for the current fiscal year.

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

Several research firms recently issued reports on NKE. Needham & Company LLC raised their target price on NIKE from $149.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, December 21st. Argus raised their target price on NIKE from $140.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, December 22nd. Smith Barney Citigroup raised their target price on NIKE from $137.00 to $157.00 in a research note on Monday, December 21st. Williams Financial Group began coverage on NIKE in a research note on Friday, January 22nd. They issued a “buy” rating and a $175.00 target price on the stock. Finally, Credit Suisse Group set a $162.00 target price on NIKE and gave the stock a “buy” rating in a research note on Monday, January 4th. One 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 company’s stock. The stock currently has an average rating of “Buy” and an average target price of $154.63.

In other news, VP Chris L. Abston sold 20,000 shares of the company’s stock in a transaction on Wednesday, December 30th. The stock was sold at an average price of $142.16, for a total value of $2,843,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy D. Cook sold 52,000 shares of the company’s stock in a transaction on Monday, November 30th. The stock was sold at an average price of $133.91, for a total value of $6,963,320.00. Following the completion of the sale, the director now owns 55,433 shares of the company’s stock, valued at $7,423,033.03. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 444,500 shares of company stock valued at $62,461,870. Company insiders own 3.80% of the company’s stock.

NIKE Profile

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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