Capital Asset Advisory Services LLC Sells 293 Shares of NIKE, Inc. (NYSE:NKE)

Capital Asset Advisory Services LLC lowered its stake in shares of NIKE, Inc. (NYSE:NKE) by 11.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,260 shares of the footwear maker’s stock after selling 293 shares during the period. Capital Asset Advisory Services LLC’s holdings in NIKE were worth $201,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Iron Horse Wealth Management LLC grew its stake in shares of NIKE by 120.7% in the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 140 shares during the period. Planned Solutions Inc. bought a new stake in shares of NIKE in the fourth quarter worth approximately $29,000. True Wealth Design LLC grew its stake in shares of NIKE by 106.4% in the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after acquiring an additional 150 shares during the period. Frank Rimerman Advisors LLC bought a new stake in shares of NIKE in the fourth quarter worth approximately $33,000. Finally, Core Wealth Advisors Inc. grew its stake in shares of NIKE by 408.5% in the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after acquiring an additional 241 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on NKE shares. Citigroup reduced their price target on shares of NIKE from $115.00 to $102.00 and set a “buy” rating for the company in a research note on Friday. Williams Trading restated a “sell” rating and issued a $85.00 price objective (down from $92.00) on shares of NIKE in a research note on Monday, March 18th. BMO Capital Markets reduced their price objective on NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday. Telsey Advisory Group reduced their price objective on NIKE from $115.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday. Finally, HSBC reduced their price objective on NIKE from $100.00 to $90.00 and set a “hold” rating for the company in a research note on Friday. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, NIKE presently has an average rating of “Hold” and a consensus price target of $98.96.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 168,378 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total value of $15,682,726.92. Following the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman Mark G. Parker sold 168,378 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total value of $15,682,726.92. Following the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Johanna Nielsen sold 282 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the sale, the vice president now directly owns 730 shares in the company, valued at $68,357.20. The disclosure for this sale can be found here. Insiders have sold 213,660 shares of company stock valued at $19,946,333 in the last ninety days. 0.50% of the stock is owned by company insiders.

NIKE Stock Down 20.0 %

Shares of NYSE:NKE opened at $75.36 on Friday. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. NIKE, Inc. has a 12 month low of $74.55 and a 12 month high of $123.39. The company has a 50-day moving average price of $93.28 and a 200 day moving average price of $99.15. The company has a market cap of $113.75 billion, a price-to-earnings ratio of 20.20, a PEG ratio of 1.79 and a beta of 1.05.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.87%. The firm had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. During the same quarter last year, the firm earned $0.66 EPS. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, equities research analysts predict that NIKE, Inc. will post 3.9 earnings per share for the current year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Monday, June 3rd. NIKE’s dividend payout ratio (DPR) is currently 39.68%.

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.