Tectonic Advisors LLC Has $301,000 Stock Position in NIKE, Inc. (NYSE:NKE)

Tectonic Advisors LLC cut its holdings in NIKE, Inc. (NYSE:NKE) by 59.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,406 shares of the footwear maker’s stock after selling 4,947 shares during the quarter. Tectonic Advisors LLC’s holdings in NIKE were worth $301,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NKE. Annapolis Financial Services LLC increased its position in NIKE by 440.0% during the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after purchasing an additional 220 shares in the last quarter. Transcendent Capital Group LLC lifted its stake in shares of NIKE by 97.6% in the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 200 shares during the last quarter. VitalStone Financial LLC lifted its stake in shares of NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 150 shares during the last quarter. Bruce G. Allen Investments LLC grew its position in NIKE by 272.5% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after acquiring an additional 376 shares during the last quarter. Finally, Triad Wealth Partners LLC acquired a new position in NIKE in the 2nd quarter worth about $44,000. Institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction that occurred 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 completion of the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.10% of the company’s stock.

NIKE Trading Down 0.2 %

NYSE NKE opened at $78.85 on Friday. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The business has a 50 day moving average price of $82.71 and a 200-day moving average price of $84.94. The company has a market cap of $118.22 billion, a price-to-earnings ratio of 22.59, a P/E/G ratio of 1.95 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The business had revenue of $11.59 billion during 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%. NIKE’s quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.94 EPS. As a group, equities analysts expect that NIKE, Inc. will post 2.78 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were given a $0.37 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.88%. NIKE’s payout ratio is 42.41%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on NKE shares. Williams Trading upgraded NIKE from a “sell” rating to a “buy” rating and boosted their price target for the stock from $67.00 to $93.00 in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Sanford C. Bernstein dropped their price target on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research note on Thursday, September 19th. Daiwa America cut shares of NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Finally, Telsey Advisory Group lowered their target price on NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Fourteen research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and a consensus price target of $96.56.

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.