NIKE, Inc. (NYSE:NKE) Holdings Decreased by Alpha Omega Wealth Management LLC

Alpha Omega Wealth Management LLC reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 4.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,294 shares of the footwear maker’s stock after selling 315 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in NIKE were worth $685,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Iron Horse Wealth Management LLC raised its position in NIKE by 120.7% in the fourth 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. acquired a new stake in NIKE during the 4th quarter worth about $29,000. True Wealth Design LLC raised its holdings in NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after buying an additional 150 shares during the period. Core Wealth Advisors Inc. raised its holdings in NIKE by 408.5% during the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after buying an additional 241 shares during the period. Finally, Frank Rimerman Advisors LLC acquired a new stake in NIKE during the 4th quarter worth about $33,000. 64.25% of the stock is currently owned by institutional investors.

NIKE Stock Performance

Shares of NKE stock traded down $18.82 during trading hours on Friday, reaching $75.37. 129,966,982 shares of the company’s stock were exchanged, compared to its average volume of 9,446,953. NIKE, Inc. has a fifty-two week low of $74.55 and a fifty-two week high of $123.39. The stock has a market capitalization of $113.76 billion, a P/E ratio of 20.21, a P/E/G ratio of 1.79 and a beta of 1.05. The business has a fifty day moving average price of $93.28 and a 200-day moving average price of $99.00. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The company had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. NIKE had a return on equity of 42.87% and a net margin of 11.10%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.66 earnings per share. Analysts predict that NIKE, Inc. will post 3.9 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Monday, June 3rd. NIKE’s dividend payout ratio (DPR) is 39.68%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NKE. JPMorgan Chase & Co. restated a “neutral” rating and set a $83.00 price objective (down previously from $116.00) on shares of NIKE in a report on Friday. BMO Capital Markets lowered their target price on NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday. KeyCorp reaffirmed a “sector weight” rating on shares of NIKE in a research note on Friday. Oppenheimer reaffirmed an “outperform” rating and set a $120.00 target price on shares of NIKE in a research note on Friday. Finally, TD Cowen lowered their target price on NIKE from $89.00 to $75.00 and set a “hold” rating on the stock in a research note on Friday. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $98.96.

Insider Buying and Selling at NIKE

In other news, VP Johanna Nielsen sold 282 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction of $26,406.48. Following the sale, the vice president now owns 730 shares in the company, valued at $68,357.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other NIKE news, VP Johanna Nielsen sold 282 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $93.64, for a total value of $26,406.48. Following the transaction, the vice president now owns 730 shares of the company’s stock, valued at $68,357.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Monique S. Matheson sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the sale, the executive vice president now directly owns 44,997 shares in the company, valued at approximately $4,236,917.52. The disclosure for this sale can be found here. Insiders have sold 213,660 shares of company stock worth $19,946,333 over the last three months. Company insiders own 0.50% 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.