Gibraltar Capital Management Inc. Sells 1,653 Shares of NIKE, Inc. (NYSE:NKE)

Gibraltar Capital Management Inc. lowered its position in shares of NIKE, Inc. (NYSE:NKE) by 4.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 34,560 shares of the footwear maker’s stock after selling 1,653 shares during the quarter. NIKE accounts for about 1.6% of Gibraltar Capital Management Inc.’s investment portfolio, making the stock its 26th biggest holding. Gibraltar Capital Management Inc.’s holdings in NIKE were worth $3,752,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Iron Horse Wealth Management LLC raised its position in shares of NIKE by 120.7% in the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 140 shares during the period. Planned Solutions Inc. bought a new position in NIKE in the 4th quarter valued at approximately $29,000. Raleigh Capital Management Inc. raised its holdings in NIKE by 134.2% during the 3rd 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. Stephens Consulting LLC raised its holdings in NIKE by 160.0% during the 3rd quarter. Stephens Consulting LLC now owns 390 shares of the footwear maker’s stock worth $37,000 after purchasing an additional 240 shares during the last quarter. Finally, OFI Invest Asset Management acquired a new stake in shares of NIKE during the 3rd quarter worth approximately $37,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

NKE has been the topic of a number of analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $100.00 price objective (down from $110.00) on shares of NIKE in a report on Friday, March 22nd. Williams Trading restated a “sell” rating and issued a $85.00 price objective (down from $92.00) on shares of NIKE in a research note on Monday, March 18th. Sanford C. Bernstein lowered their price objective on NIKE from $134.00 to $120.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd. Jefferies Financial Group lowered their price objective on NIKE from $110.00 to $100.00 and set a “hold” rating on the stock in a research note on Friday, March 22nd. Finally, Citigroup decreased their price target on NIKE from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, March 14th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $116.26.

NIKE Stock Down 1.9 %

Shares of NYSE NKE traded down $1.80 during trading on Tuesday, reaching $92.26. The company had a trading volume of 6,471,496 shares, compared to its average volume of 9,340,923. NIKE, Inc. has a 12-month low of $88.66 and a 12-month high of $128.68. The stock has a market cap of $139.25 billion, a PE ratio of 27.14, a P/E/G ratio of 1.82 and a beta of 1.09. The business’s 50-day moving average is $96.55 and its 200 day moving average is $103.28. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, beating the consensus estimate of $0.69 by $0.29. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The company had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.28 billion. As a group, equities analysts forecast that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were given a $0.37 dividend. The ex-dividend date was Friday, March 1st. This represents a $1.48 annualized dividend and a yield of 1.60%. NIKE’s payout ratio is 43.53%.

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.