NIKE, Inc. (NYSE:NKE) Shares Sold by Sculati Wealth Management LLC

Sculati Wealth Management LLC cut its stake in NIKE, Inc. (NYSE:NKE) by 9.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,767 shares of the footwear maker’s stock after selling 1,156 shares during the period. Sculati Wealth Management LLC’s holdings in NIKE were worth $1,012,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Teachers Insurance & Annuity Association of America acquired a new stake in shares of NIKE in the 3rd quarter worth $30,000. VitalStone Financial LLC raised its stake in NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 150 shares during the period. Dunhill Financial LLC boosted its holdings in NIKE by 52.2% in the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after purchasing an additional 169 shares during the last quarter. Triad Wealth Partners LLC purchased a new stake in shares of NIKE in the 2nd quarter valued at approximately $44,000. Finally, Riverview Trust Co acquired a new stake in shares of NIKE during the 3rd quarter worth approximately $52,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Performance

NYSE NKE opened at $78.83 on Thursday. The firm has a market cap of $118.19 billion, a P/E ratio of 22.59, a P/E/G ratio of 1.90 and a beta of 1.02. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The business’s 50-day moving average price is $78.70 and its 200 day moving average price is $81.33. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business’s revenue was down 10.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.94 earnings per share. On average, equities research analysts expect that NIKE, Inc. will post 2.73 earnings per share for the current year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.03%. NIKE’s dividend payout ratio is 45.85%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NKE. Telsey Advisory Group cut their price objective on NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Williams Trading upgraded shares of NIKE from a “sell” rating to a “buy” rating and lifted their price target for the company from $67.00 to $93.00 in a research report on Friday, August 16th. Daiwa America cut NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. TD Cowen cut their target price on shares of NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research note on Monday, November 18th. Finally, Morgan Stanley upped their price target on NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Fourteen research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $95.39.

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.