Lake Street Private Wealth LLC Has $467,000 Stake in NIKE, Inc. (NYSE:NKE)

Lake Street Private Wealth LLC lowered its position in shares of NIKE, Inc. (NYSE:NKE) by 37.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,281 shares of the footwear maker’s stock after selling 3,149 shares during the period. Lake Street Private Wealth LLC’s holdings in NIKE were worth $467,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Advisors Asset Management Inc. lifted its holdings in shares of NIKE by 86.0% during the first quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock worth $1,970,000 after buying an additional 9,689 shares in the last quarter. FORA Capital LLC acquired a new stake in NIKE in the 1st quarter worth about $3,412,000. Cetera Advisors LLC boosted its holdings in NIKE by 85.5% in the 1st quarter. Cetera Advisors LLC now owns 88,299 shares of the footwear maker’s stock valued at $8,298,000 after purchasing an additional 40,704 shares during the period. Koshinski Asset Management Inc. acquired a new position in shares of NIKE during the 1st quarter worth approximately $713,000. Finally, New Mexico Educational Retirement Board increased its holdings in shares of NIKE by 15.7% during the first quarter. New Mexico Educational Retirement Board now owns 74,248 shares of the footwear maker’s stock worth $6,978,000 after purchasing an additional 10,100 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NKE has been the subject of several recent research reports. HSBC cut 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, June 28th. UBS Group upped their target price on NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. TD Cowen raised their price target on NIKE from $71.00 to $78.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Guggenheim cut their price objective on shares of NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Finally, Daiwa America downgraded shares of NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $96.56.

NIKE Stock Down 1.7 %

NIKE stock opened at $80.04 on Thursday. The firm has a market cap of $120.81 billion, a price-to-earnings ratio of 21.46, a PEG ratio of 1.96 and a beta of 1.02. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The firm has a 50 day moving average price of $82.86 and a two-hundred day moving average price of $85.10.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.18. The company had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. NIKE’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.94 earnings per share. Equities analysts predict that NIKE, Inc. will post 2.8 EPS for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend was Tuesday, September 3rd. NIKE’s dividend payout ratio is 39.68%.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.50% of the company’s stock.

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.