Laurel Wealth Advisors LLC Decreases Stock Position in NIKE, Inc. (NYSE:NKE)

Laurel Wealth Advisors LLC cut its holdings in NIKE, Inc. (NYSE:NKE) by 1.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 35,787 shares of the footwear maker’s stock after selling 503 shares during the quarter. Laurel Wealth Advisors LLC’s holdings in NIKE were worth $3,885,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NKE. Impact Partnership Wealth LLC grew its holdings in NIKE by 220.7% during the third quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock worth $25,000 after acquiring an additional 181 shares during the period. Iron Horse Wealth Management LLC lifted its position in NIKE by 120.7% during the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after buying an additional 140 shares in the last quarter. Planned Solutions Inc. purchased a new stake in NIKE in the fourth quarter valued at $29,000. Raleigh Capital Management Inc. raised its position in NIKE by 134.2% in the third quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock valued at $36,000 after purchasing an additional 216 shares during the period. Finally, Gold Investment Management Ltd. purchased a new stake in NIKE in the fourth quarter valued at $36,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Stock Performance

Shares of NIKE stock traded up $0.18 on Friday, hitting $94.12. The stock had a trading volume of 6,115,744 shares, compared to its average volume of 9,124,711. NIKE, Inc. has a 52-week low of $88.66 and a 52-week high of $128.68. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. The stock has a market cap of $142.06 billion, a price-to-earnings ratio of 27.68, a P/E/G ratio of 1.81 and a beta of 1.08. The company’s 50 day moving average price is $96.96 and its 200 day moving average price is $103.30.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.29. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The business had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.28 billion. On average, research analysts anticipate that NIKE, Inc. will post 3.73 EPS for the current year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend was Friday, March 1st. NIKE’s payout ratio is currently 43.53%.

Analyst Upgrades and Downgrades

NKE has been the topic of a number of research analyst reports. Sanford C. Bernstein reduced their target price on NIKE from $134.00 to $120.00 and set an “outperform” rating on the stock in a research report on Friday, March 22nd. Wells Fargo & Company reduced their target price on NIKE from $125.00 to $120.00 and set an “overweight” rating on the stock in a research report on Friday, March 22nd. Evercore ISI reduced their target price on NIKE from $127.00 to $117.00 and set an “outperform” rating on the stock in a research report on Friday, March 22nd. Oppenheimer cut NIKE from an “outperform” rating to a “market perform” rating and set a $110.00 price objective for the company. in a research note on Friday, February 16th. Finally, Jefferies Financial Group dropped their price objective on NIKE from $110.00 to $100.00 and set a “hold” rating for the company in a research note on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $116.26.

About NIKE

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.