GSB Wealth Management LLC Sells 613 Shares of NIKE, Inc. (NYSE:NKE)

GSB Wealth Management LLC lessened its holdings in NIKE, Inc. (NYSE:NKE) by 7.1% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,006 shares of the footwear maker’s stock after selling 613 shares during the quarter. GSB Wealth Management LLC’s holdings in NIKE were worth $708,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Transcendent Capital Group LLC lifted its holdings in NIKE by 97.6% during the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after buying an additional 200 shares in the last quarter. VitalStone Financial LLC raised its stake in shares of NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 150 shares in the last quarter. Bruce G. Allen Investments LLC increased its holdings in NIKE by 272.5% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after purchasing an additional 376 shares during the period. Triad Wealth Partners LLC bought a new stake in shares of NIKE in the 2nd quarter valued at about $44,000. Finally, Riverview Trust Co bought a new position in shares of NIKE during the 3rd quarter worth approximately $52,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Down 0.6 %

Shares of NYSE NKE opened at $78.44 on Wednesday. The stock has a market cap of $117.61 billion, a PE ratio of 22.48, a P/E/G ratio of 1.90 and a beta of 1.02. The company has a 50-day moving average of $82.52 and a 200 day moving average of $84.72. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The firm had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm’s revenue was down 10.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.94 earnings per share. As a group, sell-side analysts predict that NIKE, Inc. will post 2.76 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.89%. The ex-dividend date was Tuesday, September 3rd. NIKE’s payout ratio is currently 42.41%.

Analyst Ratings Changes

NKE has been the topic of a number of recent analyst reports. Daiwa America downgraded NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Williams Trading raised NIKE from a “sell” rating to a “buy” rating and upped their target price for the company from $67.00 to $93.00 in a research report on Friday, August 16th. Royal Bank of Canada lowered their price target on NIKE from $85.00 to $82.00 and set a “sector perform” rating for the company in a report on Wednesday, October 2nd. Wells Fargo & Company upped their price objective on shares of NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Finally, JPMorgan Chase & Co. cut their price target on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $96.56.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is owned by insiders.

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.