Silvercrest Asset Management Group LLC Lowers Stock Holdings in NIKE, Inc. (NYSE:NKE)

Silvercrest Asset Management Group LLC trimmed its position in NIKE, Inc. (NYSE:NKE) by 6.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,998 shares of the footwear maker’s stock after selling 3,044 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in NIKE were worth $3,632,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP lifted its holdings in shares of NIKE by 32.4% in the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock worth $2,749,903,000 after buying an additional 8,898,591 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of NIKE by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker’s stock worth $1,915,110,000 after buying an additional 347,178 shares in the last quarter. Capital World Investors lifted its holdings in shares of NIKE by 10.3% in the fourth quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker’s stock worth $1,857,389,000 after buying an additional 2,288,627 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of NIKE by 18.1% in the fourth quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock worth $1,541,246,000 after buying an additional 3,121,929 shares in the last quarter. Finally, Norges Bank bought a new position in shares of NIKE in the fourth quarter worth approximately $1,126,288,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Down 1.7%

Shares of NIKE stock opened at $62.03 on Tuesday. The stock has a market capitalization of $91.75 billion, a price-to-earnings ratio of 19.15, a P/E/G ratio of 2.52 and a beta of 1.23. The company’s 50 day moving average price is $60.84 and its 200-day moving average price is $70.54. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $98.04. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.26. The business had revenue of $11.27 billion for the quarter, compared to analysts’ expectations of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.98 earnings per share. Equities research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.58%. The ex-dividend date is Monday, June 2nd. NIKE’s dividend payout ratio is currently 53.16%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NKE. China Renaissance began coverage on shares of NIKE in a research report on Wednesday, March 19th. They issued a “hold” rating on the stock. Needham & Company LLC decreased their price objective on shares of NIKE from $84.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, March 17th. Morgan Stanley decreased their price objective on shares of NIKE from $72.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, March 21st. Telsey Advisory Group decreased their price objective on shares of NIKE from $80.00 to $70.00 and set a “market perform” rating on the stock in a research report on Tuesday, May 6th. Finally, Berenberg Bank began coverage on shares of NIKE in a research report on Tuesday, April 15th. They issued a “hold” rating and a $58.00 price objective on the stock. Seventeen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and an average target price of $80.30.

Insider Buying and Selling at NIKE

In other news, Director Robert Holmes Swan acquired 8,600 shares of the stock in a transaction on Friday, April 4th. The stock was acquired at an average price of $58.46 per share, with a total value of $502,756.00. Following the completion of the transaction, the director now owns 31,983 shares of the company’s stock, valued at $1,869,726.18. This represents a 36.78% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.10% of the company’s stock.

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.