Stratos Wealth Advisors LLC Sells 804 Shares of NIKE, Inc. (NYSE:NKE)

Stratos Wealth Advisors LLC decreased its holdings in NIKE, Inc. (NYSE:NKE) by 9.9% during the 4th quarter, HoldingsChannel reports. The firm owned 7,300 shares of the footwear maker’s stock after selling 804 shares during the quarter. Stratos Wealth Advisors LLC’s holdings in NIKE were worth $552,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of NKE. Range Financial Group LLC bought a new position in shares of NIKE in the fourth quarter worth about $642,000. Cacti Asset Management LLC acquired a new position in NIKE during the 4th quarter worth approximately $9,987,000. Capricorn Fund Managers Ltd bought a new position in NIKE in the 4th quarter valued at approximately $5,384,000. FNY Investment Advisers LLC boosted its position in NIKE by 5,745.9% in the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock valued at $654,000 after buying an additional 8,504 shares in the last quarter. Finally, Eagle Rock Investment Company LLC grew its stake in shares of NIKE by 49.2% during the fourth quarter. Eagle Rock Investment Company LLC now owns 60,642 shares of the footwear maker’s stock worth $4,589,000 after buying an additional 19,991 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Telsey Advisory Group reiterated a “market perform” rating and issued a $80.00 price target on shares of NIKE in a research note on Thursday. BMO Capital Markets lifted their price target on NIKE from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Morgan Stanley lowered their price objective on NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. TD Cowen cut their target price on shares of NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research report on Monday, November 18th. Finally, Stifel Nicolaus reduced their target price on shares of NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a report on Friday, December 20th. Fifteen analysts have rated the stock with a hold rating, fifteen 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 a consensus rating of “Moderate Buy” and a consensus target price of $88.62.

Insider Activity

In other NIKE news, Director John W. Rogers, Jr. purchased 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The shares were acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the transaction, the director now owns 34,403 shares in the company, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company’s stock.

NIKE Price Performance

NKE stock opened at $68.69 on Friday. 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’s 50-day moving average is $75.32 and its 200-day moving average is $78.05. The stock has a market capitalization of $101.60 billion, a PE ratio of 21.20, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. NIKE, Inc. has a 1 year low of $68.62 and a 1 year high of $107.43.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. The company’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.03 earnings per share. Equities research analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.33%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is 49.38%.

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.