NIKE, Inc. $NKE Shares Sold by Texas Capital Bank Wealth Management Services Inc

Texas Capital Bank Wealth Management Services Inc lessened its stake in NIKE, Inc. (NYSE:NKE) by 76.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 21,649 shares of the footwear maker’s stock after selling 71,355 shares during the period. Texas Capital Bank Wealth Management Services Inc’s holdings in NIKE were worth $1,379,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Main Street Financial Solutions LLC raised its stake in shares of NIKE by 4.2% in the 2nd quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker’s stock valued at $244,000 after purchasing an additional 139 shares in the last quarter. Diligent Investors LLC raised its stake in shares of NIKE by 4.3% in the 4th quarter. Diligent Investors LLC now owns 3,719 shares of the footwear maker’s stock valued at $237,000 after purchasing an additional 153 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of NIKE by 4.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,978 shares of the footwear maker’s stock valued at $253,000 after purchasing an additional 163 shares in the last quarter. Lakeshore Capital Group Inc. raised its stake in shares of NIKE by 2.9% in the 4th quarter. Lakeshore Capital Group Inc. now owns 5,868 shares of the footwear maker’s stock valued at $374,000 after purchasing an additional 165 shares in the last quarter. Finally, TPG Financial Advisors LLC raised its stake in NIKE by 4.8% during the third quarter. TPG Financial Advisors LLC now owns 3,666 shares of the footwear maker’s stock worth $256,000 after acquiring an additional 168 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NYSE:NKE opened at $45.96 on Thursday. The firm’s 50 day moving average is $46.05 and its two-hundred day moving average is $56.93. The company has a current ratio of 2.14, a quick ratio of 1.45 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $68.06 billion, a P/E ratio of 30.44, a PEG ratio of 2.38 and a beta of 1.12. NIKE, Inc. has a 52 week low of $41.35 and a 52 week high of $80.17.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.06. The business had revenue of $11.28 billion during the quarter, compared to analysts’ expectations of $11.23 billion. NIKE had a net margin of 4.84% and a return on equity of 16.41%. The business’s revenue was up .1% on a year-over-year basis. During the same period last year, the firm posted $0.54 earnings per share. Analysts anticipate that NIKE, Inc. will post 1.51 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a $0.41 dividend. The ex-dividend date is Monday, June 1st. This represents a $1.64 annualized dividend and a dividend yield of 3.6%. NIKE’s dividend payout ratio (DPR) is 108.61%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. CICC Research lowered shares of NIKE from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $69.00 to $58.00 in a research note on Monday, April 6th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of NIKE from $54.00 to $51.00 and set a “hold” rating on the stock in a research note on Wednesday, April 1st. HSBC lowered shares of NIKE from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $90.00 to $48.00 in a research note on Monday, April 13th. Citigroup dropped their price objective on shares of NIKE from $65.00 to $53.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 1st. Finally, Stifel Nicolaus dropped their price objective on shares of NIKE from $65.00 to $56.00 and set a “hold” rating on the stock in a research note on Wednesday, April 1st. Sixteen research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $62.04.

Insider Activity at NIKE

In related news, Director Robert Holmes Swan acquired 11,781 shares of the firm’s stock in a transaction dated Tuesday, April 7th. The stock was acquired at an average cost of $42.44 per share, for a total transaction of $499,985.64. Following the completion of the acquisition, the director directly owned 55,074 shares of the company’s stock, valued at approximately $2,337,340.56. The trade was a 27.21% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Elliott Hill acquired 23,660 shares of the firm’s stock in a transaction dated Monday, April 13th. The stock was bought at an average price of $42.27 per share, with a total value of $1,000,108.20. Following the completion of the acquisition, the chief executive officer directly owned 265,247 shares of the company’s stock, valued at approximately $11,211,990.69. This represents a 9.79% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have acquired 64,441 shares of company stock valued at $2,734,204. Insiders own 0.80% of the company’s stock.

NIKE Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).