Simmons Bank Trims Holdings in NIKE, Inc. (NYSE:NKE)

Simmons Bank lowered its stake in shares of NIKE, Inc. (NYSE:NKE) by 6.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 46,370 shares of the footwear maker’s stock after selling 3,044 shares during the period. Simmons Bank’s holdings in NIKE were worth $5,034,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Iron Horse Wealth Management LLC lifted its stake in NIKE by 120.7% during the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 140 shares in the last quarter. Planned Solutions Inc. purchased a new position in shares of NIKE in the fourth quarter valued at approximately $29,000. Raleigh Capital Management Inc. increased its position in shares of 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 purchasing an additional 216 shares during the last quarter. OFI Invest Asset Management purchased a new position in shares of NIKE in the 3rd quarter valued at $37,000. Finally, Mizuho Securities Co. Ltd. lifted its position in NIKE by 100.0% in the fourth quarter. Mizuho Securities Co. Ltd. now owns 340 shares of the footwear maker’s stock valued at $37,000 after acquiring an additional 170 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Trading Down 0.6 %

NKE stock traded down $0.57 during midday trading on Wednesday, hitting $93.21. The stock had a trading volume of 2,567,401 shares, compared to its average volume of 9,150,249. NIKE, Inc. has a 12-month low of $88.66 and a 12-month high of $126.46. The firm has a market cap of $140.69 billion, a PE ratio of 27.48, a price-to-earnings-growth ratio of 1.78 and a beta of 1.07. The company’s 50-day moving average price is $95.28 and its 200 day moving average price is $102.91. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89.

NIKE (NYSE:NKE) last released its earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, beating 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 firm had revenue of $12.43 billion during the quarter, compared to analyst estimates of $12.28 billion. On average, equities research analysts predict that NIKE, Inc. will post 3.73 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, July 1st. Investors of record on Monday, June 3rd will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend is Monday, June 3rd. NIKE’s dividend payout ratio (DPR) is currently 43.53%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Telsey Advisory Group dropped their price target on NIKE from $140.00 to $120.00 and set an “outperform” rating on the stock in a research note on Monday, March 18th. Jefferies Financial Group cut their target price on shares of NIKE from $110.00 to $100.00 and set a “hold” rating on the stock in a report on Friday, March 22nd. Evercore ISI decreased their price target on shares of NIKE from $127.00 to $117.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Stifel Nicolaus dropped their price objective on shares of NIKE from $129.00 to $117.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Finally, Citigroup decreased their target price on shares of NIKE from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, March 14th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $116.26.

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.