Centric Wealth Management Sells 712 Shares of NIKE, Inc. (NYSE:NKE)

Centric Wealth Management lessened its holdings in shares of NIKE, Inc. (NYSE:NKE) by 13.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,693 shares of the footwear maker’s stock after selling 712 shares during the period. Centric Wealth Management’s holdings in NIKE were worth $468,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of NKE. Excalibur Management Corp lifted its holdings in shares of NIKE by 1.9% during the third quarter. Excalibur Management Corp now owns 5,148 shares of the footwear maker’s stock worth $492,000 after purchasing an additional 98 shares during the period. Cairn Investment Group Inc. raised its position in NIKE by 4.2% during the 3rd quarter. Cairn Investment Group Inc. now owns 2,500 shares of the footwear maker’s stock worth $239,000 after buying an additional 100 shares during the last quarter. Tiemann Investment Advisors LLC boosted its holdings in shares of NIKE by 3.1% in the 3rd quarter. Tiemann Investment Advisors LLC now owns 3,340 shares of the footwear maker’s stock valued at $319,000 after acquiring an additional 100 shares during the last quarter. Piscataqua Savings Bank raised its holdings in shares of NIKE by 2.1% during the fourth quarter. Piscataqua Savings Bank now owns 4,861 shares of the footwear maker’s stock worth $528,000 after purchasing an additional 100 shares during the last quarter. Finally, Physicians Financial Services Inc. lifted its position in NIKE by 0.6% during the fourth quarter. Physicians Financial Services Inc. now owns 16,077 shares of the footwear maker’s stock valued at $1,745,000 after purchasing an additional 100 shares during the period. Institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

NKE has been the subject of a number of recent research reports. HSBC reduced their price objective on NIKE from $120.00 to $115.00 and set a “hold” rating for the company in a research note on Monday, January 22nd. Sanford C. Bernstein lowered their price objective on NIKE from $134.00 to $120.00 and set an “outperform” rating on the stock in a research report on Friday, March 22nd. Telsey Advisory Group cut their target price on shares of NIKE from $140.00 to $120.00 and set an “outperform” rating for the company in a report on Monday, March 18th. Royal Bank of Canada reissued a “sector perform” rating and set a $100.00 price target (down from $110.00) on shares of NIKE in a report on Friday, March 22nd. Finally, The Goldman Sachs Group dropped their price target on shares of NIKE from $135.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.26.

NIKE Price Performance

Shares of NYSE:NKE traded down $0.57 during midday trading on Wednesday, hitting $93.21. The company’s stock had a trading volume of 2,567,401 shares, compared to its average volume of 9,150,249. The business’s 50 day simple moving average is $95.28 and its 200 day simple moving average is $102.91. 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 company has a market cap of $140.69 billion, a P/E ratio of 27.48, a price-to-earnings-growth ratio of 1.78 and a beta of 1.07. NIKE, Inc. has a 12-month low of $88.66 and a 12-month high of $126.46.

NIKE (NYSE:NKE) last posted its quarterly earnings results 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. The firm had revenue of $12.43 billion for the quarter, compared to the consensus estimate of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. On average, analysts forecast that NIKE, Inc. will post 3.73 EPS for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Monday, June 3rd. NIKE’s dividend payout ratio is currently 43.53%.

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.