Larson Financial Group LLC Trims Stake in NIKE, Inc. (NYSE:NKE)

Larson Financial Group LLC lowered its position in NIKE, Inc. (NYSE:NKE) by 53.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,741 shares of the footwear maker’s stock after selling 7,685 shares during the quarter. Larson Financial Group LLC’s holdings in NIKE were worth $732,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Impact Partnership Wealth LLC increased its stake in NIKE by 220.7% in the 3rd quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock worth $25,000 after buying an additional 181 shares during the period. Iron Horse Wealth Management LLC increased its stake in NIKE by 120.7% in the 4th 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 during the period. Planned Solutions Inc. purchased a new position in NIKE in the 4th quarter worth about $29,000. Raleigh Capital Management Inc. increased its stake in NIKE by 134.2% in the 3rd quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock worth $36,000 after buying an additional 216 shares during the period. Finally, Stephens Consulting LLC increased its stake in NIKE by 160.0% in the 3rd quarter. Stephens Consulting LLC now owns 390 shares of the footwear maker’s stock worth $37,000 after buying an additional 240 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

Shares of NYSE NKE traded up $0.25 during mid-day trading on Tuesday, hitting $94.44. The company had a trading volume of 3,419,815 shares, compared to its average volume of 9,520,146. The stock has a market cap of $142.54 billion, a price-to-earnings ratio of 27.84, a PEG ratio of 1.82 and a beta of 1.09. NIKE, Inc. has a 12 month low of $88.66 and a 12 month high of $128.68. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. The firm’s 50 day simple moving average is $97.85 and its two-hundred day simple moving average is $103.46.

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

NIKE Dividend Announcement

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

Analyst Ratings Changes

Several research firms recently commented on NKE. Evercore ISI reduced their price target on shares of NIKE from $127.00 to $117.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd. Citigroup lowered their price target on shares of NIKE from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, March 14th. HSBC lowered their price target on shares of NIKE from $120.00 to $115.00 and set a “hold” rating on the stock in a report on Monday, January 22nd. Wedbush restated an “outperform” rating and issued a $115.00 price target on shares of NIKE in a report on Wednesday, March 27th. Finally, Wells Fargo & Company lowered their target price on shares of NIKE from $125.00 to $120.00 and set an “overweight” rating for the company in a research note on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $116.26.

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.