Altfest L J & Co. Inc. Sells 1,067 Shares of NIKE, Inc. (NYSE:NKE)

Altfest L J & Co. Inc. decreased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 16.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,427 shares of the footwear maker’s stock after selling 1,067 shares during the quarter. Altfest L J & Co. Inc.’s holdings in NIKE were worth $589,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Impact Partnership Wealth LLC boosted its stake in NIKE by 220.7% during the third quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock worth $25,000 after buying an additional 181 shares during the period. Planned Solutions Inc. purchased a new position in shares of NIKE during the 4th quarter worth about $29,000. Financial Freedom LLC bought a new position in NIKE during the 4th quarter valued at about $29,000. Worth Asset Management LLC purchased a new stake in NIKE in the 1st quarter worth about $32,000. Finally, Raleigh Capital Management Inc. lifted its stake in NIKE by 134.2% in the third quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock worth $36,000 after purchasing an additional 216 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on NKE shares. Raymond James increased their price target on NIKE from $121.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, December 19th. Jefferies Financial Group cut their price target on shares of NIKE from $110.00 to $100.00 and set a “hold” rating on the stock in a report on Friday, March 22nd. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of NIKE from $132.00 to $128.00 and set a “buy” rating for the company in a report on Friday, December 22nd. Wedbush restated an “outperform” rating and issued a $115.00 target price on shares of NIKE in a research note on Wednesday. Finally, Barclays reduced their price objective on NIKE from $142.00 to $114.00 and set an “overweight” rating on the stock in a report on Monday. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $116.75.

NIKE Stock Performance

NYSE:NKE traded down $0.68 during trading hours on Thursday, reaching $93.45. The company had a trading volume of 6,342,304 shares, compared to its average volume of 9,340,381. The firm has a market cap of $142.22 billion, a PE ratio of 27.76, a price-to-earnings-growth ratio of 1.74 and a beta of 1.10. NIKE, Inc. has a 1-year low of $88.66 and a 1-year high of $128.68. The business’s 50 day moving average price is $101.65 and its 200-day moving average price is $103.69. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.29. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The firm had revenue of $12.43 billion for the quarter, compared to the consensus estimate of $12.28 billion. Research analysts forecast that NIKE, Inc. will post 3.7 EPS for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 4th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Friday, March 1st. NIKE’s dividend payout ratio (DPR) is presently 43.53%.

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.