West Paces Advisors Inc. Sells 313 Shares of NIKE, Inc. (NYSE:NKE)

West Paces Advisors Inc. reduced its stake in NIKE, Inc. (NYSE:NKE) by 7.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,032 shares of the footwear maker’s stock after selling 313 shares during the period. West Paces Advisors Inc.’s holdings in NIKE were worth $379,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NKE. Acadian Asset Management LLC increased its holdings in NIKE by 1.2% during the 3rd quarter. Acadian Asset Management LLC now owns 23,508 shares of the footwear maker’s stock worth $2,246,000 after acquiring an additional 273 shares during the period. Cary Street Partners Investment Advisory LLC increased its holdings in shares of NIKE by 16.2% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 7,980 shares of the footwear maker’s stock worth $763,000 after purchasing an additional 1,110 shares during the period. Eagle Asset Management Inc. raised its position in shares of NIKE by 33.6% in the third quarter. Eagle Asset Management Inc. now owns 6,559 shares of the footwear maker’s stock worth $627,000 after buying an additional 1,648 shares in the last quarter. Jacobi Capital Management LLC increased its stake in shares of NIKE by 15.3% in the third quarter. Jacobi Capital Management LLC now owns 3,679 shares of the footwear maker’s stock worth $352,000 after buying an additional 488 shares during the period. Finally, Parkside Financial Bank & Trust raised its holdings in NIKE by 3.4% during the 3rd quarter. Parkside Financial Bank & Trust now owns 8,096 shares of the footwear maker’s stock valued at $774,000 after buying an additional 268 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 168,378 shares of the 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 completion of the sale, the chairman now owns 1,102,090 shares in the company, valued at approximately $102,648,662.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Chairman Mark G. Parker sold 168,378 shares of NIKE stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Monique S. Matheson sold 45,000 shares of the company’s 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 transaction, the executive vice president now owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 213,660 shares of company stock worth $19,946,333. Company insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

NKE has been the topic of a number of analyst reports. Sanford C. Bernstein decreased their price objective on shares of NIKE from $134.00 to $120.00 and set an “outperform” rating on the stock in a research report on Friday, March 22nd. Citigroup reduced their price target on shares of NIKE from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, March 14th. Jefferies Financial Group lowered their price objective on shares of NIKE from $110.00 to $100.00 and set a “hold” rating for the company in a report on Friday, March 22nd. Royal Bank of Canada restated a “sector perform” rating and issued a $100.00 target price (down previously from $110.00) on shares of NIKE in a research note on Friday, March 22nd. Finally, The Goldman Sachs Group decreased their price objective on NIKE from $135.00 to $120.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $114.81.

NIKE Stock Performance

NIKE stock traded down $0.69 during trading on Wednesday, reaching $94.06. The company had a trading volume of 10,101,709 shares, compared to its average volume of 9,194,656. The firm’s 50-day simple moving average is $93.71 and its 200 day simple moving average is $99.52. NIKE, Inc. has a 52 week low of $88.66 and a 52 week high of $123.39. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $141.97 billion, a price-to-earnings ratio of 27.66, a price-to-earnings-growth ratio of 1.80 and a beta of 1.05.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.57%. NIKE’s dividend payout ratio (DPR) is presently 43.53%.

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.