Segment Wealth Management LLC Sells 114,686 Shares of NIKE, Inc. (NYSE:NKE)

Segment Wealth Management LLC reduced its position in NIKE, Inc. (NYSE:NKE) by 91.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,249 shares of the footwear maker’s stock after selling 114,686 shares during the quarter. Segment Wealth Management LLC’s holdings in NIKE were worth $776,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of NIKE by 3.3% during the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after purchasing an additional 1,862,021 shares during the last quarter. Wellington Management Group LLP boosted its position in NIKE by 5.1% in the third quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock valued at $2,425,886,000 after buying an additional 1,343,093 shares in the last quarter. Geode Capital Management LLC boosted its position in NIKE by 1.0% in the third quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock valued at $2,204,451,000 after buying an additional 251,411 shares in the last quarter. Legal & General Group Plc grew its stake in shares of NIKE by 5.5% during the second quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock worth $832,785,000 after buying an additional 571,544 shares during the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of NIKE by 6.0% during the third quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock worth $910,801,000 after buying an additional 583,207 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Performance

NYSE NKE opened at $70.89 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The company has a fifty day moving average price of $75.77 and a 200-day moving average price of $77.95. NIKE, Inc. has a 1 year low of $70.32 and a 1 year high of $107.43. The firm has a market cap of $104.85 billion, a price-to-earnings ratio of 21.88, a PEG ratio of 2.25 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The business had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. NIKE’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period last year, the company posted $1.03 earnings per share. As a group, equities research analysts predict that NIKE, Inc. will post 2.1 EPS for the current fiscal year.

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were given a dividend of $0.40 per share. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend was Monday, December 2nd. NIKE’s dividend payout ratio is currently 49.38%.

Analysts Set New Price Targets

NKE has been the topic of several recent research reports. Morgan Stanley cut their price objective on NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Barclays reduced their price target on NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Robert W. Baird dropped their price objective on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, December 23rd. Guggenheim cut their target price on shares of NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Finally, Needham & Company LLC restated a “buy” rating and issued a $84.00 price target on shares of NIKE in a research report on Friday, December 20th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $89.96.

Insider Transactions at NIKE

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of the business’s stock in a transaction dated Friday, December 27th. The stock was bought at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the purchase, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is currently owned by company insiders.

NIKE Company 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.