Laurel Wealth Advisors LLC Cuts Stake in NIKE, Inc. (NYSE:NKE)

Laurel Wealth Advisors LLC cut its stake in NIKE, Inc. (NYSE:NKE) by 1.4% during the 4th quarter, HoldingsChannel reports. The firm owned 35,787 shares of the footwear maker’s stock after selling 503 shares during the quarter. Laurel Wealth Advisors LLC’s holdings in NIKE were worth $3,885,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Excalibur Management Corp grew its position in NIKE by 1.9% during the third quarter. Excalibur Management Corp now owns 5,148 shares of the footwear maker’s stock valued at $492,000 after purchasing an additional 98 shares in the last quarter. Baxter Bros Inc. grew its position in NIKE by 2.0% during the third quarter. Baxter Bros Inc. now owns 5,045 shares of the footwear maker’s stock valued at $482,000 after purchasing an additional 100 shares in the last quarter. First Pacific Financial grew its position in NIKE by 1.3% during the third quarter. First Pacific Financial now owns 8,098 shares of the footwear maker’s stock valued at $774,000 after purchasing an additional 100 shares in the last quarter. Jeppson Wealth Management LLC lifted its stake in NIKE by 4.5% in the third quarter. Jeppson Wealth Management LLC now owns 2,315 shares of the footwear maker’s stock valued at $221,000 after acquiring an additional 100 shares during the last quarter. Finally, Cairn Investment Group Inc. lifted its stake in NIKE by 4.2% in the third quarter. Cairn Investment Group Inc. now owns 2,500 shares of the footwear maker’s stock valued at $239,000 after acquiring an additional 100 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Performance

NIKE stock traded up $0.18 on Friday, hitting $94.12. The company’s stock had a trading volume of 6,115,744 shares, compared to its average volume of 9,124,711. The firm has a market cap of $142.06 billion, a P/E ratio of 27.68, a price-to-earnings-growth ratio of 1.81 and a beta of 1.08. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. The company has a fifty day moving average price of $96.96 and a 200-day moving average price of $103.30. NIKE, Inc. has a one year low of $88.66 and a one year high of $128.68.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.29. The business had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. On average, equities analysts anticipate that NIKE, Inc. will post 3.73 earnings per share for the current year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend was Friday, March 1st. NIKE’s dividend payout ratio (DPR) is currently 43.53%.

Analysts Set New Price Targets

A number of research firms have issued reports on NKE. Telsey Advisory Group reduced their target price on shares of NIKE from $140.00 to $120.00 and set an “outperform” rating for the company in a research note on Monday, March 18th. UBS Group reduced their target price on shares of NIKE from $138.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Piper Sandler reduced their price objective on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a research note on Friday, March 22nd. Barclays reduced their price objective on shares of NIKE from $142.00 to $114.00 and set an “overweight” rating for the company in a research note on Monday, March 25th. Finally, Sanford C. Bernstein reduced their price objective on shares of NIKE from $134.00 to $120.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $116.26.

NIKE Profile

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.