TBH Global Asset Management LLC Lowers Holdings in NIKE, Inc. (NYSE:NKE)

TBH Global Asset Management LLC reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 14.5% in the fourth quarter, Holdings Channel reports. The firm owned 8,386 shares of the footwear maker’s stock after selling 1,419 shares during the quarter. TBH Global Asset Management LLC’s holdings in NIKE were worth $635,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Garrison Point Advisors LLC increased its position in shares of NIKE by 1.9% during the third quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock valued at $593,000 after acquiring an additional 126 shares in the last quarter. PSI Advisors LLC increased its holdings in shares of NIKE by 26.3% in the 3rd quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock worth $55,000 after purchasing an additional 130 shares in the last quarter. JNBA Financial Advisors raised its stake in shares of NIKE by 1.3% in the fourth quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker’s stock worth $760,000 after purchasing an additional 131 shares during the last quarter. Frisch Financial Group Inc. lifted its holdings in shares of NIKE by 4.7% during the third quarter. Frisch Financial Group Inc. now owns 3,036 shares of the footwear maker’s stock valued at $269,000 after purchasing an additional 136 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV boosted its position in shares of NIKE by 0.7% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker’s stock valued at $1,547,000 after buying an additional 136 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Down 1.0 %

Shares of NKE opened at $76.80 on Thursday. NIKE, Inc. has a 12-month low of $68.62 and a 12-month high of $106.62. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $113.60 billion, a PE ratio of 23.70, a price-to-earnings-growth ratio of 2.38 and a beta of 1.01. The business’s 50 day moving average is $74.34 and its 200 day moving average is $78.06.

NIKE (NYSE:NKE) last released its earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.63 by $0.15. The firm had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.03 earnings per share. Research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.40 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.08%. NIKE’s payout ratio is 49.38%.

Insider Transactions at NIKE

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on NKE shares. Guggenheim reissued a “buy” rating and issued a $110.00 target price on shares of NIKE in a research report on Wednesday, February 12th. Robert W. Baird lowered their price objective on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. Wells Fargo & Company dropped their target price on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a report on Monday, December 16th. Citigroup lowered shares of NIKE from a “buy” rating to a “neutral” rating and decreased their target price for the company from $102.00 to $72.00 in a research note on Friday, February 7th. Finally, TD Cowen dropped their price target on NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research note on Monday, November 18th. Fifteen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and an average target price of $88.62.

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.