NIKE, Inc. (NYSE:NKE) Stake Decreased by Stone Summit Wealth LLC

Stone Summit Wealth LLC trimmed its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 42.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,645 shares of the footwear maker's stock after selling 7,790 shares during the period. Stone Summit Wealth LLC's holdings in NIKE were worth $676,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of NIKE in the fourth quarter worth $1,126,288,000. Wellington Management Group LLP boosted its position in NIKE by 32.4% during the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock worth $2,749,903,000 after purchasing an additional 8,898,591 shares during the period. Renaissance Technologies LLC increased its holdings in NIKE by 1,302.7% in the 4th quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker's stock valued at $196,901,000 after purchasing an additional 2,416,601 shares in the last quarter. Capital World Investors increased its holdings in NIKE by 10.3% in the 4th quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock valued at $1,857,389,000 after purchasing an additional 2,288,627 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in NIKE in the fourth quarter valued at about $156,438,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NKE. JPMorgan Chase & Co. increased their target price on NIKE from $56.00 to $64.00 and gave the company a "neutral" rating in a research note on Friday. UBS Group lowered their price objective on shares of NIKE from $73.00 to $66.00 and set a "neutral" rating for the company in a research report on Friday, March 21st. Barclays lifted their price objective on shares of NIKE from $53.00 to $64.00 and gave the company an "equal weight" rating in a research note on Friday. Dbs Bank upgraded shares of NIKE from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Finally, Berenberg Bank assumed coverage on shares of NIKE in a report on Tuesday, April 15th. They set a "hold" rating and a $58.00 price target for the company. Fifteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $79.33.

Insider Activity at NIKE

In related news, Director Robert Holmes Swan bought 8,600 shares of the business's stock in a transaction on Friday, April 4th. The shares were bought at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the purchase, the director now owns 31,983 shares of the company's stock, valued at $1,869,726.18. This represents a 36.78% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.10% of the company's stock.

NIKE Stock Performance

Shares of NIKE stock traded up $9.55 during trading hours on Friday, reaching $72.09. The company's stock had a trading volume of 117,428,527 shares, compared to its average volume of 15,843,336. NIKE, Inc. has a one year low of $52.28 and a one year high of $94.74. The company's 50 day simple moving average is $60.31 and its 200 day simple moving average is $67.63. 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 $106.63 billion, a P/E ratio of 23.95, a price-to-earnings-growth ratio of 2.23 and a beta of 1.21.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. NIKE had a net margin of 9.43% and a return on equity of 32.18%. The firm had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.69 billion. During the same quarter in the prior year, the business earned $0.99 earnings per share. NIKE's quarterly revenue was down 11.9% on a year-over-year basis. As a group, analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE's dividend payout ratio (DPR) is 53.16%.

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.