SVB Wealth LLC Reduces Stock Position in NIKE, Inc. (NYSE:NKE)

SVB Wealth LLC decreased its position in NIKE, Inc. (NYSE:NKE) by 13.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 89,425 shares of the footwear maker’s stock after selling 14,173 shares during the quarter. SVB Wealth LLC’s holdings in NIKE were worth $9,709,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. BCK Partners Inc. acquired a new position in NIKE during the 1st quarter valued at approximately $2,839,000. Loomis Sayles & Co. L P raised its position in shares of NIKE by 138.2% during the first quarter. Loomis Sayles & Co. L P now owns 11,233 shares of the footwear maker’s stock worth $1,511,000 after purchasing an additional 6,518 shares during the period. Merit Financial Group LLC lifted its position in shares of NIKE by 13.3% during the 1st quarter. Merit Financial Group LLC now owns 1,588 shares of the footwear maker’s stock worth $214,000 after purchasing an additional 186 shares during the last quarter. Bridgewater Associates LP acquired a new position in shares of NIKE during the 1st quarter worth about $278,000. Finally, Federated Hermes Inc. lifted its position in shares of NIKE by 9.8% during the 1st quarter. Federated Hermes Inc. now owns 433,950 shares of the footwear maker’s stock worth $58,392,000 after purchasing an additional 38,903 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Trading Up 0.3 %

NKE stock opened at $93.38 on Wednesday. The business has a fifty day moving average price of $98.65 and a 200 day moving average price of $103.48. NIKE, Inc. has a fifty-two week low of $88.66 and a fifty-two week high of $128.68. The stock has a market capitalization of $140.94 billion, a price-to-earnings ratio of 27.46, a P/E/G 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 (NYSE:NKE) last released its quarterly 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 return on equity of 39.41% and a net margin of 10.14%. The firm 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 fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were paid 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%.

Analyst Ratings Changes

Several research firms recently weighed in on NKE. Stifel Nicolaus cut their price objective on NIKE from $129.00 to $117.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Morgan Stanley cut their price objective on NIKE from $124.00 to $116.00 and set an “overweight” rating for the company in a research report on Wednesday, March 27th. Williams Trading reiterated a “sell” rating and issued a $85.00 price objective (down previously from $92.00) on shares of NIKE in a research report on Monday, March 18th. HSBC reduced their price objective on NIKE from $120.00 to $115.00 and set a “hold” rating for the company in a research report on Monday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on NIKE from $132.00 to $128.00 and set a “buy” rating for the company in a research report on Friday, December 22nd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $116.26.

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.