Parisi Gray Wealth Management Sells 2,100 Shares of NIKE, Inc. (NYSE:NKE)

Parisi Gray Wealth Management lowered its holdings in NIKE, Inc. (NYSE:NKE) by 13.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 13,268 shares of the footwear maker’s stock after selling 2,100 shares during the period. Parisi Gray Wealth Management’s holdings in NIKE were worth $1,440,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NKE. Impact Partnership Wealth LLC grew its holdings in NIKE by 220.7% in the 3rd quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock valued at $25,000 after buying an additional 181 shares during the last quarter. Planned Solutions Inc. acquired a new stake in NIKE in the 4th quarter valued at approximately $29,000. Financial Freedom LLC acquired a new stake in NIKE in the 4th quarter valued at approximately $29,000. Worth Asset Management LLC acquired a new stake in NIKE in the 1st quarter valued at approximately $32,000. Finally, Raleigh Capital Management Inc. grew its holdings in NIKE by 134.2% in the 3rd quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock valued at $36,000 after buying an additional 216 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Trading Up 0.2 %

NYSE:NKE traded up $0.15 on Thursday, reaching $94.28. The company’s stock had a trading volume of 937,803 shares, compared to its average volume of 9,256,306. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. The firm has a market cap of $143.49 billion, a PE ratio of 27.76, a PEG ratio of 1.74 and a beta of 1.10. The business’s 50-day moving average price is $101.65 and its two-hundred day moving average price is $103.69. NIKE, Inc. has a 1-year low of $88.66 and a 1-year high of $128.68.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.29. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The company had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $12.28 billion. Equities research analysts anticipate that NIKE, Inc. will post 3.7 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 4th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Friday, March 1st. NIKE’s payout ratio is 43.53%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Telsey Advisory Group lowered their target price on NIKE from $140.00 to $120.00 and set an “outperform” rating on the stock in a report on Monday, March 18th. TheStreet lowered NIKE from a “b” rating to a “c+” rating in a report on Tuesday, January 9th. Robert W. Baird decreased their price objective on NIKE from $140.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, March 22nd. Citigroup decreased their price objective on NIKE from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, March 14th. Finally, Wedbush reissued an “outperform” rating and set a $115.00 price objective on shares of NIKE in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, NIKE has an average rating of “Moderate Buy” and an average target price of $116.75.

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.