NIKE, Inc. (NYSE:NKE) Stock Holdings Reduced by TrinityPoint Wealth LLC

TrinityPoint Wealth LLC decreased its position in NIKE, Inc. (NYSE:NKE - Free Report) by 61.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,906 shares of the footwear maker's stock after selling 17,655 shares during the quarter. TrinityPoint Wealth LLC's holdings in NIKE were worth $825,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Heck Capital Advisors LLC acquired a new position in NIKE in the 4th quarter worth $28,000. Caitlin John LLC increased its position in shares of NIKE by 117.0% during the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker's stock worth $28,000 after acquiring an additional 200 shares during the last quarter. Roxbury Financial LLC acquired a new position in shares of NIKE in the fourth quarter worth about $30,000. LFA Lugano Financial Advisors SA boosted its holdings in NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock valued at $30,000 after purchasing an additional 210 shares during the last quarter. Finally, Hopwood Financial Services Inc. acquired a new stake in NIKE during the 4th quarter valued at approximately $30,000. Hedge funds and other institutional investors own 64.25% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NKE. Telsey Advisory Group cut their target price on NIKE from $80.00 to $70.00 and set a "market perform" rating on the stock in a research report on Tuesday, May 6th. Wells Fargo & Company upped their price target on shares of NIKE from $55.00 to $60.00 and gave the company an "equal weight" rating in a report on Wednesday, May 14th. Barclays reduced their price objective on shares of NIKE from $70.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Monday, May 12th. Williams Trading dropped their target price on shares of NIKE from $93.00 to $73.00 and set a "buy" rating for the company in a research report on Monday, April 21st. Finally, Royal Bank of Canada reduced their price target on shares of NIKE from $66.00 to $65.00 and set a "sector perform" rating on the stock in a research report on Tuesday. Seventeen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, NIKE presently has a consensus rating of "Moderate Buy" and a consensus target price of $80.26.

NIKE Price Performance

NYSE:NKE traded up $0.41 during midday trading on Tuesday, hitting $62.49. 10,764,253 shares of the stock were exchanged, compared to its average volume of 14,839,147. The business has a 50-day moving average price of $60.63 and a two-hundred day moving average price of $70.49. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $92.43 billion, a price-to-earnings ratio of 19.29, a P/E/G ratio of 2.52 and a beta of 1.23. NIKE, Inc. has a one year low of $52.28 and a one year high of $98.04.

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

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be given a dividend of $0.40 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.56%. NIKE's dividend payout ratio (DPR) is 53.16%.

Insider Buying and Selling

In other NIKE news, Director Robert Holmes Swan bought 8,600 shares of the company's stock in a transaction dated Friday, April 4th. The shares were bought at an average price 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 approximately $1,869,726.18. This trade represents a 36.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.