GSB Wealth Management LLC Lowers Holdings in NIKE, Inc. (NYSE:NKE)

GSB Wealth Management LLC cut its holdings in NIKE, Inc. (NYSE:NKE) by 42.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,993 shares of the footwear maker’s stock after selling 1,441 shares during the period. GSB Wealth Management LLC’s holdings in NIKE were worth $244,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. America First Investment Advisors LLC purchased a new position in NIKE in the 1st quarter worth approximately $27,000. Tucker Asset Management LLC purchased a new stake in shares of NIKE during the 1st quarter worth approximately $29,000. Financial Freedom LLC purchased a new stake in shares of NIKE during the 4th quarter worth approximately $29,000. Ruedi Wealth Management Inc. purchased a new stake in shares of NIKE during the 4th quarter worth approximately $30,000. Finally, Venturi Wealth Management LLC purchased a new stake in shares of NIKE during the 1st quarter worth approximately $35,000. 63.42% of the stock is owned by hedge funds and other institutional investors.

NIKE Price Performance

NKE opened at $96.13 on Thursday. NIKE, Inc. has a 12-month low of $82.22 and a 12-month high of $131.31. The company has a current ratio of 2.72, a quick ratio of 1.81 and a debt-to-equity ratio of 0.64. The business’s fifty day simple moving average is $105.24 and its 200-day simple moving average is $113.14. The company has a market capitalization of $147.08 billion, a price-to-earnings ratio of 29.76, a PEG ratio of 1.73 and a beta of 1.12.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 29th. The footwear maker reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.02). The firm had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.58 billion. NIKE had a return on equity of 34.01% and a net margin of 9.90%. NIKE’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.90 EPS. On average, equities research analysts anticipate that NIKE, Inc. will post 3.71 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Tuesday, September 5th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Friday, September 1st. NIKE’s dividend payout ratio (DPR) is currently 42.11%.

Insider Buying and Selling

In related news, VP Johanna Nielsen sold 1,706 shares of the company’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $107.00, for a total transaction of $182,542.00. Following the completion of the sale, the vice president now directly owns 954 shares in the company, valued at approximately $102,078. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $108.58, for a total value of $11,943,800.00. Following the completion of the sale, the chairman now directly owns 1,334,781 shares in the company, valued at $144,930,520.98. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Johanna Nielsen sold 1,706 shares of the stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $107.00, for a total value of $182,542.00. Following the completion of the sale, the vice president now owns 954 shares of the company’s stock, valued at $102,078. The disclosure for this sale can be found here. Insiders sold 157,251 shares of company stock worth $17,063,257 in the last three months. 0.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NKE has been the topic of several recent research reports. TheStreet cut NIKE from a “b-” rating to a “c+” rating in a report on Tuesday, September 5th. Barclays decreased their price objective on NIKE from $127.00 to $124.00 in a report on Friday, June 30th. Bank of America decreased their price target on NIKE from $135.00 to $125.00 in a report on Friday, June 30th. Erste Group Bank restated a “hold” rating on shares of NIKE in a report on Friday, September 8th. Finally, StockNews.com began coverage on NIKE in a report on Thursday, August 17th. They set a “hold” rating on the stock. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $130.28.

NIKE Company 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.