GFS Advisors LLC Sells 3,238 Shares of NIKE, Inc. (NYSE:NKE)

GFS Advisors LLC decreased its position in NIKE, Inc. (NYSE:NKE) by 1.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 168,693 shares of the footwear maker’s stock after selling 3,238 shares during the quarter. NIKE makes up 2.2% of GFS Advisors LLC’s portfolio, making the stock its 17th biggest position. GFS Advisors LLC’s holdings in NIKE were worth $10,709,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in NKE. Brighton Jones LLC grew its position in shares of NIKE by 388.5% during the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after purchasing an additional 160,980 shares in the last quarter. Bank Pictet & Cie Europe AG grew its position in shares of NIKE by 10.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker’s stock worth $14,447,000 after purchasing an additional 17,888 shares in the last quarter. Allworth Financial LP grew its position in shares of NIKE by 96.8% during the fourth quarter. Allworth Financial LP now owns 24,458 shares of the footwear maker’s stock worth $1,811,000 after purchasing an additional 12,027 shares in the last quarter. Venturi Wealth Management LLC grew its position in shares of NIKE by 355.6% during the fourth quarter. Venturi Wealth Management LLC now owns 7,263 shares of the footwear maker’s stock worth $550,000 after purchasing an additional 5,669 shares in the last quarter. Finally, Bank of Jackson Hole Trust purchased a new stake in shares of NIKE during the fourth quarter worth about $43,000. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Down 0.9%

NIKE stock opened at $59.47 on Thursday. The stock’s fifty day moving average is $59.57 and its two-hundred day moving average is $68.36. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.19 and a quick ratio of 1.52. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $98.04. The stock has a market cap of $87.96 billion, a PE ratio of 19.76, a P/E/G ratio of 2.11 and a beta of 1.21.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. NIKE had a return on equity of 32.18% and a net margin of 9.43%. The business had revenue of $11.27 billion for the quarter, compared to analysts’ expectations of $11.02 billion. During the same quarter in the previous year, the firm earned $0.98 earnings per share. The business’s revenue was down 9.1% compared to the same quarter last year. On average, sell-side analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE’s dividend payout ratio (DPR) is currently 53.16%.

Insider Transactions at NIKE

In related news, Director Robert Holmes Swan purchased 8,600 shares of the stock in a transaction that occurred on Friday, April 4th. The shares were purchased at an average price of $58.46 per share, with a total value of $502,756.00. Following the completion of the acquisition, the director now directly owns 31,983 shares in the company, valued at $1,869,726.18. This represents a 36.78% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NKE. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $70.00 price objective on shares of NIKE in a research note on Tuesday. BMO Capital Markets lowered their price target on NIKE from $95.00 to $92.00 and set an “outperform” rating for the company in a research report on Friday, March 21st. Stifel Nicolaus reduced their price target on NIKE from $75.00 to $64.00 and set a “hold” rating for the company in a report on Thursday, April 10th. Berenberg Bank started coverage on NIKE in a research note on Tuesday, April 15th. They set a “hold” rating and a $58.00 price objective for the company. Finally, The Goldman Sachs Group dropped their price target on NIKE from $88.00 to $72.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Seventeen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.15.

NIKE 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.