KMG Fiduciary Partners LLC Has $226,000 Stock Position in NIKE, Inc. (NYSE:NKE)

KMG Fiduciary Partners LLC reduced its position in NIKE, Inc. (NYSE:NKE - Free Report) by 75.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 3,555 shares of the footwear maker's stock after selling 11,130 shares during the period. KMG Fiduciary Partners LLC's holdings in NIKE were worth $226,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP increased its stake in shares of NIKE by 32.4% in the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock valued at $2,749,903,000 after buying an additional 8,898,591 shares during the period. Geode Capital Management LLC grew its stake in shares of NIKE by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker's stock worth $1,915,110,000 after purchasing an additional 347,178 shares during the period. Capital World Investors grew its stake in shares of NIKE by 10.3% during the fourth quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock worth $1,857,389,000 after purchasing an additional 2,288,627 shares during the period. Bank of New York Mellon Corp grew its stake in shares of NIKE by 18.1% during the fourth quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker's stock worth $1,541,246,000 after purchasing an additional 3,121,929 shares during the period. Finally, Norges Bank acquired a new stake in shares of NIKE during the fourth quarter worth $1,126,288,000. 64.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Robert Holmes Swan bought 8,600 shares of the company's stock in a transaction that occurred on Friday, April 4th. The shares were acquired at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the acquisition, the director now owns 31,983 shares of the company's stock, valued at approximately $1,869,726.18. The trade was a 36.78% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on NKE shares. Barclays decreased their price objective on NIKE from $70.00 to $60.00 and set an "equal weight" rating for the company in a research note on Monday, May 12th. Wells Fargo & Company lifted their price objective on NIKE from $55.00 to $60.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 14th. Royal Bank of Canada decreased their price objective on NIKE from $66.00 to $65.00 and set a "sector perform" rating for the company in a research note on Tuesday, May 20th. Morgan Stanley decreased their price objective on NIKE from $72.00 to $70.00 and set an "equal weight" rating for the company in a research note on Friday, March 21st. Finally, Stifel Nicolaus decreased their price objective on NIKE from $75.00 to $64.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. Seventeen analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $80.26.

NIKE Stock Performance

Shares of NIKE stock opened at $62.82 on Monday. The firm has a market cap of $92.92 billion, a price-to-earnings ratio of 19.39, a price-to-earnings-growth ratio of 2.52 and a beta of 1.21. The stock's 50-day moving average is $58.86 and its 200-day moving average is $69.15. NIKE, Inc. has a one year low of $52.28 and a one year high of $98.04. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. During the same period in the previous year, the company posted $0.98 earnings per share. The company's quarterly revenue was down 9.1% compared to the same quarter last year. Equities analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be issued a dividend of $0.40 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.60 annualized dividend and a yield of 2.55%. NIKE's payout ratio is presently 53.16%.

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.

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