GW Henssler & Associates Ltd. Lowers Stake in NIKE, Inc. $NKE

Key Points

• GW Henssler & Associates cut its NIKE stake by 20.6% in the fourth quarter, selling 56,886 shares and leaving it with 218,921 shares valued at about $13.95 million.
• Wall Street sentiment is mixed: analysts currently assign NIKE a consensus rating of Hold with a consensus price target of $62.04, even as several firms recently trimmed targets or adjusted ratings.
• NIKE reported better-than-expected quarterly results, with EPS of $0.35 versus $0.29 expected and revenue of $11.28 billion, while also announcing a quarterly dividend of $0.41 per share payable July 1.

GW Henssler & Associates Ltd. decreased its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 20.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 218,921 shares of the footwear maker's stock after selling 56,886 shares during the period. GW Henssler & Associates Ltd.'s holdings in NIKE were worth $13,947,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Main Street Financial Solutions LLC boosted its position in shares of NIKE by 4.2% in the second quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker's stock worth $244,000 after buying an additional 139 shares during the period. Diligent Investors LLC lifted its stake in shares of NIKE by 4.3% in the fourth quarter. Diligent Investors LLC now owns 3,719 shares of the footwear maker's stock worth $237,000 after acquiring an additional 153 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of NIKE by 4.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,978 shares of the footwear maker's stock worth $253,000 after acquiring an additional 163 shares in the last quarter. Lakeshore Capital Group Inc. lifted its stake in shares of NIKE by 2.9% in the fourth quarter. Lakeshore Capital Group Inc. now owns 5,868 shares of the footwear maker's stock worth $374,000 after acquiring an additional 165 shares in the last quarter. Finally, TPG Financial Advisors LLC lifted its stake in shares of NIKE by 4.8% in the third quarter. TPG Financial Advisors LLC now owns 3,666 shares of the footwear maker's stock worth $256,000 after acquiring an additional 168 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company's stock.

Wall Street Analysts Forecast Growth

NKE has been the topic of several recent analyst reports. Robert W. Baird cut their price target on NIKE from $85.00 to $70.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 1st. Wall Street Zen upgraded NIKE from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of NIKE in a research note on Monday, April 13th. Jefferies Financial Group cut their price target on NIKE from $110.00 to $90.00 and set a "buy" rating on the stock in a research note on Wednesday, April 1st. Finally, Guggenheim cut their price target on NIKE from $77.00 to $74.00 and set a "buy" rating on the stock in a research note on Wednesday, April 1st. Sixteen equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $62.04.

Insider Buying and Selling

In related news, Director Robert Holmes Swan bought 11,781 shares of the stock in a transaction dated Tuesday, April 7th. The stock was bought at an average cost of $42.44 per share, with a total value of $499,985.64. Following the completion of the acquisition, the director owned 55,074 shares of the company's stock, valued at $2,337,340.56. This trade represents a 27.21% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John W. Rogers, Jr. bought 4,000 shares of the stock in a transaction dated Thursday, April 9th. The shares were bought at an average cost of $43.34 per share, with a total value of $173,360.00. Following the completion of the acquisition, the director directly owned 41,022 shares of the company's stock, valued at approximately $1,777,893.48. The trade was a 10.80% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 64,441 shares of company stock valued at $2,734,204 over the last three months. 0.80% of the stock is owned by company insiders.

NIKE Trading Down 0.7%

Shares of NYSE NKE opened at $45.93 on Tuesday. The stock has a market capitalization of $68.01 billion, a P/E ratio of 30.42, a PEG ratio of 2.45 and a beta of 1.12. The stock's 50 day moving average price is $45.60 and its two-hundred day moving average price is $56.61. NIKE, Inc. has a 52-week low of $41.35 and a 52-week high of $80.17. The company has a quick ratio of 1.45, a current ratio of 2.14 and a debt-to-equity ratio of 0.50.

NIKE (NYSE:NKE - Get Free Report) last posted its earnings results on Tuesday, March 31st. The footwear maker reported $0.35 EPS for the quarter, beating the consensus estimate of $0.29 by $0.06. The company had revenue of $11.28 billion during the quarter, compared to analyst estimates of $11.23 billion. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The business's revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.54 earnings per share. On average, analysts anticipate that NIKE, Inc. will post 1.51 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.64 annualized dividend and a dividend yield of 3.6%. NIKE's dividend payout ratio is 108.61%.

About NIKE

Nike, Inc NYSE: NKE is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).

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