TBH Global Asset Management LLC Reduces Stock Position in NIKE, Inc. (NYSE:NKE)

TBH Global Asset Management LLC cut its stake in NIKE, Inc. (NYSE:NKE) by 14.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,386 shares of the footwear maker’s stock after selling 1,419 shares during the quarter. TBH Global Asset Management LLC’s holdings in NIKE were worth $635,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its holdings in NIKE by 187.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 323,993 shares of the footwear maker’s stock valued at $28,641,000 after purchasing an additional 211,461 shares during the period. Raleigh Capital Management Inc. boosted its stake in NIKE by 25.5% during the third quarter. Raleigh Capital Management Inc. now owns 3,478 shares of the footwear maker’s stock valued at $307,000 after buying an additional 706 shares during the period. Foundations Investment Advisors LLC boosted its stake in NIKE by 26.5% during the third quarter. Foundations Investment Advisors LLC now owns 4,804 shares of the footwear maker’s stock valued at $425,000 after buying an additional 1,006 shares during the period. Oakworth Capital Inc. grew its position in NIKE by 37.8% during the third quarter. Oakworth Capital Inc. now owns 2,066 shares of the footwear maker’s stock worth $183,000 after buying an additional 567 shares in the last quarter. Finally, Eastern Bank increased its stake in NIKE by 250.9% in the 3rd quarter. Eastern Bank now owns 17,532 shares of the footwear maker’s stock worth $1,550,000 after acquiring an additional 12,535 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

NIKE Stock Performance

NYSE:NKE opened at $76.80 on Thursday. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a twelve month low of $68.62 and a twelve month high of $106.62. The stock has a market cap of $113.60 billion, a P/E ratio of 23.70, a price-to-earnings-growth ratio of 2.38 and a beta of 1.01. The firm’s fifty day simple moving average is $74.34 and its 200 day simple moving average is $78.06.

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

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.08%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio is currently 49.38%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on NKE shares. BMO Capital Markets boosted their price objective on NIKE from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Citigroup lowered shares of NIKE from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $102.00 to $72.00 in a report on Friday, February 7th. Wells Fargo & Company dropped their price objective on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a report on Monday, December 16th. Needham & Company LLC reissued a “buy” rating and issued a $84.00 target price on shares of NIKE in a research note on Friday, February 7th. Finally, Stifel Nicolaus dropped their price target on NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research note on Friday, December 20th. Fifteen research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and a consensus price target of $88.62.

Insider Activity

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of the stock in a transaction on Friday, December 27th. The stock was acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the transaction, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This represents a 7.84 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the sale, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

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.