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

Capital Asset Advisory Services LLC cut its position in NIKE, Inc. (NYSE:NKE) by 11.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,260 shares of the footwear maker’s stock after selling 293 shares during the quarter. Capital Asset Advisory Services LLC’s holdings in NIKE were worth $201,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of NKE. Iron Horse Wealth Management LLC raised its position in NIKE by 120.7% in the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 140 shares during the last quarter. Planned Solutions Inc. bought a new position in NIKE in the fourth quarter valued at about $29,000. True Wealth Design LLC raised its position in NIKE by 106.4% in the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after purchasing an additional 150 shares during the last quarter. Frank Rimerman Advisors LLC bought a new position in NIKE in the fourth quarter valued at about $33,000. Finally, Core Wealth Advisors Inc. raised its position in NIKE by 408.5% in the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after purchasing an additional 241 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NKE has been the subject of several recent research reports. Jefferies Financial Group decreased their price target on NIKE from $110.00 to $100.00 and set a “hold” rating for the company in a research note on Friday, March 22nd. Williams Trading reissued a “sell” rating and issued a $85.00 price target (down previously from $92.00) on shares of NIKE in a research note on Monday, March 18th. HSBC decreased their price target on NIKE from $100.00 to $90.00 and set a “hold” rating for the company in a research note on Friday. Evercore ISI decreased their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Telsey Advisory Group decreased their price target on NIKE from $115.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, NIKE currently has an average rating of “Hold” and a consensus price target of $98.96.

Insider Activity

In other news, EVP Monique S. Matheson sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the transaction, the executive vice president now owns 44,997 shares in the company, valued at $4,236,917.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Monique S. Matheson sold 45,000 shares of NIKE stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the sale, the executive vice president now directly owns 44,997 shares in the company, valued at $4,236,917.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 168,378 shares of NIKE stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total value of $15,682,726.92. Following the sale, the chairman now owns 1,102,090 shares in the company, valued at $102,648,662.60. The disclosure for this sale can be found here. Insiders have sold 213,660 shares of company stock worth $19,946,333 over the last 90 days. 0.50% of the stock is currently owned by corporate insiders.

NIKE Trading Down 20.0 %

Shares of NIKE stock opened at $75.36 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. NIKE, Inc. has a 52 week low of $74.55 and a 52 week high of $123.39. The stock has a 50 day moving average price of $93.28 and a two-hundred day moving average price of $99.15. The stock has a market capitalization of $113.75 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 1.79 and a beta of 1.05.

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

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a $0.37 dividend. The ex-dividend date is Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.96%. NIKE’s dividend payout ratio is presently 39.68%.

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.