NIKE, Inc. (NYSE:NKE) Shares Sold by Baker Ellis Asset Management LLC

Baker Ellis Asset Management LLC cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 4.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 11,952 shares of the footwear maker’s stock after selling 600 shares during the period. Baker Ellis Asset Management LLC’s holdings in NIKE were worth $759,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. JNBA Financial Advisors boosted its position in shares of NIKE by 1.3% during the fourth quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker’s stock worth $760,000 after buying an additional 131 shares during the period. Nations Financial Group Inc. IA ADV increased its holdings in shares of NIKE by 0.7% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker’s stock valued at $1,547,000 after buying an additional 136 shares in the last quarter. Elgethun Capital Management increased its holdings in shares of NIKE by 13.7% in the fourth quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker’s stock valued at $94,000 after buying an additional 149 shares in the last quarter. Game Plan Financial Advisors LLC increased its holdings in shares of NIKE by 11.1% in the fourth quarter. Game Plan Financial Advisors LLC now owns 1,500 shares of the footwear maker’s stock valued at $114,000 after buying an additional 150 shares in the last quarter. Finally, AlTi Global Inc. raised its stake in NIKE by 0.4% during the 4th quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker’s stock valued at $2,813,000 after purchasing an additional 150 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on NKE shares. Dbs Bank raised shares of NIKE from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Barclays lowered their target price on shares of NIKE from $70.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Monday, May 12th. Needham & Company LLC decreased their price target on shares of NIKE from $84.00 to $80.00 and set a “buy” rating for the company in a report on Monday, March 17th. UBS Group reduced their target price on shares of NIKE from $73.00 to $66.00 and set a “neutral” rating for the company in a research note on Friday, March 21st. Finally, China Renaissance assumed coverage on shares of NIKE in a research note on Wednesday, March 19th. They issued a “hold” rating for the company. Seventeen research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.26.

NIKE Stock Down 1.1%

Shares of NKE stock opened at $63.15 on Thursday. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $98.04. The firm’s fifty day moving average price is $59.09 and its two-hundred day moving average price is $68.97. The firm has a market capitalization of $93.41 billion, a P/E ratio of 19.49, a PEG ratio of 2.52 and a beta of 1.21.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.26. The company had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. NIKE’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.98 EPS. On average, equities analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be given a dividend of $0.40 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.53%. NIKE’s payout ratio is presently 53.16%.

Insiders Place Their Bets

In other news, Director Robert Holmes Swan purchased 8,600 shares of the business’s stock in a transaction dated Friday, April 4th. The stock was bought at an average price of $58.46 per share, with a total value of $502,756.00. Following the acquisition, the director now owns 31,983 shares in the company, valued at approximately $1,869,726.18. The trade was a 36.78% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.10% of the company’s stock.

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.