Baker Ellis Asset Management LLC Trims Stock Position in NIKE, Inc. (NYSE:NKE)

Baker Ellis Asset Management LLC lowered its stake in shares of NIKE, Inc. (NYSE:NKE) by 1.4% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 12,989 shares of the footwear maker’s stock after selling 180 shares during the period. Baker Ellis Asset Management LLC’s holdings in NIKE were worth $1,221,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of NKE. Eagle Asset Management Inc. raised its stake in shares of NIKE by 33.6% during the 3rd quarter. Eagle Asset Management Inc. now owns 6,559 shares of the footwear maker’s stock valued at $627,000 after buying an additional 1,648 shares during the last quarter. Mather Group LLC. grew its position in shares of NIKE by 14.1% during the 3rd quarter. Mather Group LLC. now owns 11,194 shares of the footwear maker’s stock valued at $1,070,000 after acquiring an additional 1,386 shares during the period. Westfield Capital Management Co. LP grew its position in shares of NIKE by 6.9% during the 3rd quarter. Westfield Capital Management Co. LP now owns 72,376 shares of the footwear maker’s stock valued at $6,921,000 after acquiring an additional 4,662 shares during the period. Bank of Nova Scotia grew its position in shares of NIKE by 121.0% during the 3rd quarter. Bank of Nova Scotia now owns 612,510 shares of the footwear maker’s stock valued at $58,565,000 after acquiring an additional 335,407 shares during the period. Finally, Morningstar Investment Services LLC grew its position in shares of NIKE by 1,743.3% during the 3rd quarter. Morningstar Investment Services LLC now owns 42,765 shares of the footwear maker’s stock valued at $3,833,000 after acquiring an additional 40,445 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Down 20.0 %

NYSE:NKE traded down $18.82 during trading hours on Friday, hitting $75.37. The company’s stock had a trading volume of 129,966,982 shares, compared to its average volume of 9,446,953. The stock has a market capitalization of $113.76 billion, a P/E ratio of 20.21, a price-to-earnings-growth ratio of 1.79 and a beta of 1.05. The stock has a fifty day moving average of $93.28 and a 200-day moving average of $99.00. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. NIKE, Inc. has a 52-week low of $74.55 and a 52-week high of $123.39.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.16. The company had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. NIKE had a return on equity of 42.87% and a net margin of 11.10%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.66 earnings per share. On average, equities analysts forecast that NIKE, Inc. will post 3.9 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.96%. The ex-dividend date is Monday, June 3rd. NIKE’s payout ratio is 39.68%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on NKE shares. Morgan Stanley restated an “equal weight” rating and set a $79.00 target price (down from $114.00) on shares of NIKE in a research report on Friday. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $83.00 price objective (down from $116.00) on shares of NIKE in a report on Friday. BMO Capital Markets lowered their price objective on NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday. Piper Sandler lowered their price objective on NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a report on Friday, March 22nd. Finally, Bank of America lowered their price objective on NIKE from $113.00 to $104.00 and set a “buy” rating on the stock in a report on Friday. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, NIKE has an average rating of “Hold” and a consensus target price of $98.96.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 168,378 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at $102,648,662.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Chairman Mark G. Parker sold 168,378 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at $102,648,662.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Johanna Nielsen sold 282 shares of the firm’s 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 directly owns 730 shares in the company, valued at approximately $68,357.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 213,660 shares of company stock valued at $19,946,333. 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.