NIKE, Inc. (NYSE:NKE) Shares Sold by Woodmont Investment Counsel LLC

Woodmont Investment Counsel LLC lowered its position in NIKE, Inc. (NYSE:NKE - Free Report) by 34.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,767 shares of the footwear maker's stock after selling 9,165 shares during the quarter. Woodmont Investment Counsel LLC's holdings in NIKE were worth $1,128,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Heck Capital Advisors LLC purchased a new stake in NIKE during the fourth quarter worth approximately $28,000. LFA Lugano Financial Advisors SA boosted its position in NIKE by 110.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock worth $30,000 after purchasing an additional 210 shares during the period. Hopwood Financial Services Inc. purchased a new stake in NIKE during the 4th quarter worth $30,000. EnRich Financial Partners LLC increased its holdings in NIKE by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker's stock valued at $31,000 after purchasing an additional 273 shares in the last quarter. Finally, BankPlus Trust Department purchased a new position in NIKE in the fourth quarter valued at about $34,000. Hedge funds and other institutional investors own 64.25% of the company's stock.

NIKE Trading Up 0.4%

NYSE:NKE opened at $59.78 on Friday. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $98.04. The business has a fifty day moving average of $59.78 and a 200-day moving average of $68.09. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.52 and a current ratio of 2.19. The stock has a market cap of $88.41 billion, a price-to-earnings ratio of 19.86, a PEG ratio of 2.10 and a beta of 1.21.

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, topping the consensus estimate of $0.28 by $0.26. The firm had revenue of $11.27 billion for the quarter, compared to analysts' expectations of $11.02 billion. NIKE had a net margin of 9.43% and a return on equity of 32.18%. NIKE's revenue for the quarter was down 9.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.98 earnings per share. Equities analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE's dividend payout ratio is presently 53.16%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NKE. Stifel Nicolaus decreased their target price on NIKE from $75.00 to $64.00 and set a "hold" rating for the company in a research report on Thursday, April 10th. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $70.00 price objective on shares of NIKE in a research report on Tuesday. Bank of America reduced their target price on shares of NIKE from $90.00 to $80.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Jefferies Financial Group reaffirmed a "buy" rating on shares of NIKE in a report on Friday, May 23rd. Finally, Berenberg Bank initiated coverage on shares of NIKE in a report on Tuesday, April 15th. They issued a "hold" rating and a $58.00 price objective on the stock. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $78.74.

Insider Activity at NIKE

In related news, Director Robert Holmes Swan bought 8,600 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The shares were acquired at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the acquisition, the director now directly owns 31,983 shares of the company's stock, valued at $1,869,726.18. The trade was a 36.78% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.10% of the company's stock.

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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