BIP Wealth LLC Sells 1,041 Shares of NIKE, Inc. (NYSE:NKE)

BIP Wealth LLC trimmed its position in NIKE, Inc. (NYSE:NKE) by 16.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,319 shares of the footwear maker’s stock after selling 1,041 shares during the period. BIP Wealth LLC’s holdings in NIKE were worth $578,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC boosted its holdings in NIKE by 0.7% during the 3rd quarter. FMR LLC now owns 18,502,409 shares of the footwear maker’s stock valued at $1,769,200,000 after acquiring an additional 125,746 shares during the period. Northern Trust Corp increased its position in NIKE by 4.5% during the 3rd quarter. Northern Trust Corp now owns 15,557,676 shares of the footwear maker’s stock valued at $1,487,625,000 after buying an additional 674,198 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in NIKE by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,200,932 shares of the footwear maker’s stock valued at $766,829,000 after buying an additional 89,947 shares in the last quarter. Newport Trust Company LLC acquired a new position in NIKE during the 3rd quarter valued at about $679,775,000. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of NIKE by 37.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,791,531 shares of the footwear maker’s stock valued at $553,786,000 after purchasing an additional 1,583,541 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Performance

NYSE NKE traded down $0.67 during trading hours on Thursday, reaching $93.97. The company’s stock had a trading volume of 2,613,709 shares, compared to its average volume of 9,435,401. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. The business has a 50-day simple moving average of $97.39 and a 200 day simple moving average of $103.38. NIKE, Inc. has a 52 week low of $88.66 and a 52 week high of $128.68. The stock has a market cap of $141.83 billion, a PE ratio of 27.84, a PEG ratio of 1.81 and a beta of 1.08.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.29. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The firm had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.28 billion. Equities research analysts predict that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were issued a $0.37 dividend. The ex-dividend date was Friday, March 1st. This represents a $1.48 dividend on an annualized basis and a yield of 1.57%. NIKE’s dividend payout ratio is currently 43.53%.

Analyst Upgrades and Downgrades

Several research firms recently commented on NKE. Wedbush reaffirmed an “outperform” rating and set a $115.00 target price on shares of NIKE in a report on Wednesday, March 27th. HSBC dropped their target price on NIKE from $120.00 to $115.00 and set a “hold” rating on the stock in a report on Monday, January 22nd. Jefferies Financial Group dropped their target price on NIKE from $110.00 to $100.00 and set a “hold” rating on the stock in a report on Friday, March 22nd. Wells Fargo & Company dropped their target price on NIKE from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday, March 22nd. Finally, Telsey Advisory Group dropped 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. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $116.26.

NIKE 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.