Stokes Capital Advisors LLC Decreases Stock Holdings in NIKE, Inc. (NYSE:NKE)

Stokes Capital Advisors LLC trimmed its holdings in shares of NIKE, Inc. (NYSE:NKE) by 0.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 63,906 shares of the footwear maker’s stock after selling 516 shares during the quarter. Stokes Capital Advisors LLC’s holdings in NIKE were worth $6,006,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Iron Horse Wealth Management LLC increased its position in shares of NIKE by 120.7% during the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 140 shares during the last quarter. Planned Solutions Inc. bought a new position in NIKE during the fourth quarter valued at $29,000. True Wealth Design LLC grew its holdings in NIKE by 106.4% during the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after purchasing an additional 150 shares during the period. Frank Rimerman Advisors LLC bought a new position in NIKE during the fourth quarter valued at $33,000. Finally, Core Wealth Advisors Inc. grew its holdings in NIKE by 408.5% during the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after purchasing an additional 241 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Price Performance

NYSE NKE traded down $17.90 during trading hours on Friday, reaching $76.29. 61,447,519 shares of the stock traded hands, compared to its average volume of 9,709,976. The stock has a 50 day simple moving average of $93.70 and a two-hundred day simple moving average of $99.48. NIKE, Inc. has a 1 year low of $75.75 and a 1 year high of $123.39. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. The company has a market cap of $115.15 billion, a price-to-earnings ratio of 22.41, a price-to-earnings-growth ratio of 1.79 and a beta of 1.05.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The business had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. During the same quarter last year, the business posted $0.66 earnings per share. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, analysts predict that NIKE, Inc. will post 3.81 EPS for the current fiscal year.

NIKE Announces Dividend

The company 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 dividend of $0.37 per share. The ex-dividend date is Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.94%. NIKE’s payout ratio is 43.53%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on NKE shares. KeyCorp reissued a “sector weight” rating on shares of NIKE in a report on Friday. Piper Sandler reduced their price objective on NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a report on Friday, March 22nd. Wedbush reduced their price objective on NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a report on Friday. UBS Group reissued a “neutral” rating and set a $78.00 price objective on shares of NIKE in a report on Friday. Finally, Sanford C. Bernstein cut their price target on NIKE from $134.00 to $120.00 and set an “outperform” rating for the company in a report on Friday, March 22nd. Two investment 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $102.89.

Insider Transactions at NIKE

In other news, VP Johanna Nielsen sold 282 shares of NIKE 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 in the company, valued at $68,357.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, VP Johanna Nielsen sold 282 shares of NIKE 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 in the company, valued at $68,357.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Monique S. Matheson sold 45,000 shares of NIKE 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 completion of the transaction, the executive vice president now owns 44,997 shares in the company, valued at approximately $4,236,917.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 213,660 shares of company stock worth $19,946,333. 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.