NIKE, Inc. $NKE Stock Position Lowered by Fourth Dimension Wealth LLC

Fourth Dimension Wealth LLC lowered its holdings in NIKE, Inc. (NYSE:NKE) by 60.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 714 shares of the footwear maker’s stock after selling 1,100 shares during the period. Fourth Dimension Wealth LLC’s holdings in NIKE were worth $51,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of NKE. Stone House Investment Management LLC purchased a new stake in NIKE in the 1st quarter worth about $25,000. Mascoma Wealth Management LLC purchased a new stake in shares of NIKE in the second quarter worth approximately $26,000. Halbert Hargrove Global Advisors LLC lifted its position in shares of NIKE by 952.6% in the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 362 shares in the last quarter. Saudi Central Bank purchased a new stake in shares of NIKE in the first quarter worth approximately $30,000. Finally, Matrix Trust Co lifted its position in shares of NIKE by 53.1% in the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock worth $31,000 after purchasing an additional 153 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Treasure Heinle sold 4,300 shares of the business’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the transaction, the executive vice president owned 29,396 shares of the company’s stock, valued at approximately $2,095,052.92. The trade was a 12.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 86,078 shares of the business’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the transaction, the chairman owned 744,988 shares in the company, valued at approximately $56,566,938.84. The trade was a 10.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.80% of the company’s stock.

NIKE Trading Up 1.5%

NIKE stock opened at $62.14 on Thursday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. The business’s 50-day simple moving average is $70.29 and its 200-day simple moving average is $68.46. The firm has a market capitalization of $91.86 billion, a PE ratio of 31.87, a PEG ratio of 2.41 and a beta of 1.29. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $82.44.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. The business had revenue of $11.72 billion for the quarter, compared to analyst estimates of $10.96 billion. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.70 earnings per share. Equities research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on NKE shares. Zacks Research raised shares of NIKE from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 26th. Royal Bank Of Canada restated an “outperform” rating on shares of NIKE in a report on Friday, October 10th. BTIG Research assumed coverage on NIKE in a report on Tuesday, October 14th. They set a “buy” rating and a $100.00 target price on the stock. Wall Street Zen upgraded NIKE from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. Finally, JPMorgan Chase & Co. raised their price objective on NIKE from $93.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 1st. Three investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $82.21.

NIKE 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.