Baker Tilly Wealth Management LLC Cuts Holdings in NIKE, Inc. (NYSE:NKE)

Baker Tilly Wealth Management LLC lessened its position in shares of NIKE, Inc. (NYSE:NKE) by 11.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,048 shares of the footwear maker’s stock after selling 643 shares during the period. Baker Tilly Wealth Management LLC’s holdings in NIKE were worth $446,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cornerstone Wealth Group LLC acquired a new position in NIKE during the first quarter valued at approximately $241,000. LVW Advisors LLC lifted its holdings in shares of NIKE by 19.4% during the 1st quarter. LVW Advisors LLC now owns 3,117 shares of the footwear maker’s stock valued at $293,000 after acquiring an additional 507 shares in the last quarter. Diversified Trust Co boosted its position in NIKE by 34.6% during the 1st quarter. Diversified Trust Co now owns 23,138 shares of the footwear maker’s stock worth $2,175,000 after purchasing an additional 5,947 shares during the period. Congress Wealth Management LLC DE increased its holdings in NIKE by 0.9% in the 1st quarter. Congress Wealth Management LLC DE now owns 102,988 shares of the footwear maker’s stock valued at $9,679,000 after purchasing an additional 966 shares in the last quarter. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its stake in shares of NIKE by 3.2% during the first quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 24,820 shares of the footwear maker’s stock worth $2,333,000 after purchasing an additional 767 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Performance

NKE stock opened at $79.07 on Monday. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. The stock has a market capitalization of $119.35 billion, a price-to-earnings ratio of 21.14, a PEG ratio of 1.95 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The stock’s fifty day moving average is $82.71 and its two-hundred day moving average is $84.91.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. During the same period last year, the firm posted $0.94 EPS. NIKE’s quarterly revenue was down 10.4% compared to the same quarter last year. On average, research analysts predict that NIKE, Inc. will post 2.78 EPS for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were paid a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.87%. NIKE’s payout ratio is 39.68%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Jefferies Financial Group increased their target price on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research note on Monday, September 30th. Wells Fargo & Company lifted their price target on shares of NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Guggenheim lowered their target price on NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Royal Bank of Canada dropped their target price on NIKE from $85.00 to $82.00 and set a “sector perform” rating on the stock in a research report on Wednesday, October 2nd. Finally, TD Cowen increased their price target on NIKE from $71.00 to $78.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Fourteen analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and a consensus target price of $96.56.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction dated 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 sale, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.50% of the stock is currently 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.