Axxcess Wealth Management LLC Decreases Position in NIKE, Inc. (NYSE:NKE)

Axxcess Wealth Management LLC cut its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 43.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,766 shares of the footwear maker's stock after selling 4,472 shares during the period. Axxcess Wealth Management LLC's holdings in NIKE were worth $366,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Greenleaf Trust lifted its position in shares of NIKE by 11.6% in the first quarter. Greenleaf Trust now owns 129,508 shares of the footwear maker's stock valued at $8,221,000 after acquiring an additional 13,486 shares in the last quarter. Flossbach Von Storch SE lifted its position in shares of NIKE by 24.0% in the first quarter. Flossbach Von Storch SE now owns 10,286,619 shares of the footwear maker's stock worth $652,995,000 after buying an additional 1,988,547 shares in the last quarter. CORDA Investment Management LLC. lifted its position in shares of NIKE by 14.2% in the first quarter. CORDA Investment Management LLC. now owns 156,202 shares of the footwear maker's stock worth $9,916,000 after buying an additional 19,434 shares in the last quarter. Trek Financial LLC lifted its position in shares of NIKE by 20.8% in the first quarter. Trek Financial LLC now owns 14,831 shares of the footwear maker's stock worth $941,000 after buying an additional 2,557 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its position in shares of NIKE by 0.3% in the first quarter. DekaBank Deutsche Girozentrale now owns 704,935 shares of the footwear maker's stock worth $44,282,000 after buying an additional 1,853 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Stock Up 0.1%

NYSE NKE traded up $0.08 during midday trading on Wednesday, hitting $72.07. 5,720,765 shares of the company traded hands, compared to its average volume of 15,140,102. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. The company has a market cap of $106.61 billion, a PE ratio of 33.32, a price-to-earnings-growth ratio of 2.65 and a beta of 1.25. The company's 50-day simple moving average is $64.66 and its 200-day simple moving average is $67.27. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $90.62.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. The business had revenue of $11.10 billion for the quarter, compared to analysts' expectations of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%. The business's revenue for the quarter was down 11.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.99 EPS. As a group, equities research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.22%. NIKE's dividend payout ratio is presently 74.07%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on NKE shares. Robert W. Baird boosted their target price on NIKE from $80.00 to $88.00 and gave the stock an "outperform" rating in a research report on Friday, June 27th. Piper Sandler upped their price objective on NIKE from $70.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, June 27th. JPMorgan Chase & Co. upped their price objective on NIKE from $56.00 to $64.00 and gave the company a "neutral" rating in a research report on Friday, June 27th. Wells Fargo & Company upped their price objective on NIKE from $55.00 to $60.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 14th. Finally, Williams Trading decreased their price objective on NIKE from $93.00 to $73.00 and set a "buy" rating on the stock in a research report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $77.15.

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.