NIKE, Inc. (NYSE:NKE) Stock Position Decreased by Simplicity Wealth LLC

Simplicity Wealth LLC cut its position in shares of NIKE, Inc. (NYSE:NKE) by 69.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,944 shares of the footwear maker’s stock after selling 13,311 shares during the period. Simplicity Wealth LLC’s holdings in NIKE were worth $450,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp raised its stake in shares of NIKE by 3.3% during the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock worth $5,140,796,000 after purchasing an additional 1,862,021 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of NIKE by 5.1% during the 3rd quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock worth $2,425,886,000 after purchasing an additional 1,343,093 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of NIKE by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock worth $2,204,451,000 after purchasing an additional 251,411 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of NIKE by 18.1% during the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock worth $1,541,246,000 after purchasing an additional 3,121,929 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of NIKE by 6.0% during the 3rd quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock worth $910,801,000 after purchasing an additional 583,207 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Price Performance

Shares of NYSE:NKE opened at $76.35 on Tuesday. NIKE, Inc. has a 1-year low of $68.62 and a 1-year high of $102.49. The firm has a market capitalization of $112.92 billion, a PE ratio of 23.56, a PEG ratio of 2.52 and a beta of 1.02. The business’s 50 day moving average is $74.80 and its 200-day moving average is $78.09. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

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

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s dividend payout ratio is 49.38%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NKE. Evercore ISI cut their price target on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. BMO Capital Markets raised their price objective on NIKE from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. DA Davidson raised NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Dbs Bank raised NIKE from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Finally, Robert W. Baird cut their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. Fourteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, NIKE has an average rating of “Moderate Buy” and a consensus target price of $89.77.

Insider Activity at NIKE

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