Romano Brothers AND Company Sells 330 Shares of NIKE, Inc. (NYSE:NKE)

Romano Brothers AND Company lessened its position in NIKE, Inc. (NYSE:NKE) by 4.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,814 shares of the footwear maker’s stock after selling 330 shares during the period. Romano Brothers AND Company’s holdings in NIKE were worth $691,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Ascent Wealth Partners LLC boosted its stake in NIKE by 0.4% during the 1st quarter. Ascent Wealth Partners LLC now owns 28,513 shares of the footwear maker’s stock valued at $2,680,000 after purchasing an additional 115 shares during the last quarter. Condor Capital Management lifted its holdings in shares of NIKE by 0.4% during the first quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock valued at $2,451,000 after purchasing an additional 116 shares in the last quarter. Lodestone Wealth Management LLC boosted its position in shares of NIKE by 5.5% during the first quarter. Lodestone Wealth Management LLC now owns 2,248 shares of the footwear maker’s stock valued at $211,000 after buying an additional 118 shares during the last quarter. Nvwm LLC increased its holdings in NIKE by 1.0% in the 1st quarter. Nvwm LLC now owns 11,568 shares of the footwear maker’s stock worth $1,091,000 after buying an additional 120 shares in the last quarter. Finally, Stephens Consulting LLC raised its position in NIKE by 20.0% in the 3rd quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock worth $68,000 after buying an additional 128 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NKE. Sanford C. Bernstein reduced their price target on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research note on Thursday, September 19th. Wedbush lowered their price target on NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. Daiwa America lowered NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Stifel Nicolaus lowered their target price on NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a report on Monday, August 26th. Finally, Royal Bank of Canada reduced their price target on shares of NIKE from $85.00 to $82.00 and set a “sector perform” rating for the company in a research report on Wednesday, October 2nd. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $96.56.

NIKE Trading Down 1.2 %

Shares of NKE stock opened at $79.05 on Friday. The stock’s 50-day moving average price is $82.86 and its 200-day moving average price is $85.10. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The stock has a market capitalization of $118.52 billion, a price-to-earnings ratio of 22.65, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. During the same period in the prior year, the firm earned $0.94 EPS. The company’s revenue for the quarter was down 10.4% on a year-over-year basis. Equities research analysts predict that NIKE, Inc. will post 2.78 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were issued a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.87%. NIKE’s dividend payout ratio (DPR) is presently 42.41%.

Insider Activity

In related news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the transaction, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

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.