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Sheets Smith Wealth Management Decreases Stock Position in NIKE, Inc. (NYSE:NKE)

Sheets Smith Wealth Management cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 2.0% during the fourth quarter, Holdings Channel reports. The fund owned 97,247 shares of the footwear maker’s stock after selling 1,981 shares during the period. NIKE makes up about 2.1% of Sheets Smith Wealth Management’s portfolio, making the stock its 9th biggest position. Sheets Smith Wealth Management’s holdings in NIKE were worth $13,758,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Carlson Capital Management grew its position in NIKE by 2.2% during the 4th quarter. Carlson Capital Management now owns 3,414 shares of the footwear maker’s stock worth $500,000 after acquiring an additional 72 shares during the last quarter. Sonora Investment Management LLC grew its position in NIKE by 1.1% during the 3rd quarter. Sonora Investment Management LLC now owns 7,550 shares of the footwear maker’s stock worth $948,000 after acquiring an additional 79 shares during the last quarter. Mcdaniel Terry & Co. grew its position in NIKE by 2.5% during the 3rd quarter. Mcdaniel Terry & Co. now owns 3,236 shares of the footwear maker’s stock worth $406,000 after acquiring an additional 80 shares during the last quarter. Clarius Group LLC grew its position in NIKE by 0.8% during the 3rd quarter. Clarius Group LLC now owns 11,031 shares of the footwear maker’s stock worth $1,385,000 after acquiring an additional 84 shares during the last quarter. Finally, Fundamentun LLC grew its position in NIKE by 0.5% during the 3rd quarter. Fundamentun LLC now owns 15,435 shares of the footwear maker’s stock worth $1,938,000 after acquiring an additional 84 shares during the last quarter. Institutional investors and hedge funds own 55.61% of the company’s stock.

Shares of NYSE:NKE traded down $2.01 during trading on Wednesday, hitting $143.04. 3,327,967 shares of the company’s stock traded hands, compared to its average volume of 4,610,371. The company has a current ratio of 2.55, a quick ratio of 1.77 and a debt-to-equity ratio of 1.02. The company has a 50-day moving average price of $139.67 and a 200-day moving average price of $120.60. NIKE, Inc. has a 52 week low of $60.00 and a 52 week high of $147.95. The company has a market cap of $224.55 billion, a price-to-earnings ratio of 85.95, a price-to-earnings-growth ratio of 2.76 and a beta of 0.84.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 17th. The footwear maker reported $0.78 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.15. NIKE had a net margin of 7.20% and a return on equity of 34.62%. The firm had revenue of $11.24 billion for the quarter, compared to analyst estimates of $10.51 billion. During the same quarter in the previous year, the firm posted $0.70 earnings per share. The business’s revenue was up 8.9% on a year-over-year basis. On average, analysts predict that NIKE, Inc. will post 2.85 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 29th. Shareholders of record on Monday, December 7th were paid a $0.275 dividend. The ex-dividend date of this dividend was Friday, December 4th. This represents a $1.10 dividend on an annualized basis and a yield of 0.77%. This is a positive change from NIKE’s previous quarterly dividend of $0.25. NIKE’s payout ratio is presently 59.46%.

In other NIKE news, VP Chris L. Abston sold 20,000 shares of NIKE stock in a transaction that occurred on Wednesday, December 30th. The shares were sold at an average price of $142.16, for a total value of $2,843,200.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Hilary K. Krane sold 5,670 shares of NIKE stock in a transaction that occurred on Wednesday, October 28th. The shares were sold at an average price of $123.30, for a total transaction of $699,111.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 450,170 shares of company stock worth $63,160,981. Insiders own 3.80% of the company’s stock.

A number of equities research analysts recently commented on the company. TheStreet upgraded NIKE from a “c+” rating to a “b” rating in a research report on Tuesday, September 22nd. Pivotal Research upped their price objective on NIKE from $118.00 to $137.00 and gave the stock a “buy” rating in a report on Thursday, September 17th. Wells Fargo & Company upped their price objective on NIKE from $146.00 to $157.00 and gave the stock an “overweight” rating in a report on Monday, December 21st. Morgan Stanley upped their price objective on NIKE from $165.00 to $176.00 and gave the stock an “overweight” rating in a report on Monday, December 21st. Finally, Guggenheim upped their price objective on NIKE from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday, September 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-eight have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $153.85.

NIKE Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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