Crestwood Advisors Group LLC Sells 2,116 Shares of NIKE, Inc. (NYSE:NKE)


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Crestwood Advisors Group LLC reduced its holdings in shares of NIKE, Inc. (NYSE:NKE) by 4.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 46,507 shares of the footwear maker’s stock after selling 2,116 shares during the quarter. Crestwood Advisors Group LLC’s holdings in NIKE were worth $6,579,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Key Financial Inc bought a new position in shares of NIKE during the 4th quarter worth approximately $25,000. Adams Wealth Management bought a new position in shares of NIKE during the 3rd quarter worth approximately $28,000. Tsfg LLC boosted its stake in shares of NIKE by 583.3% during the 4th quarter. Tsfg LLC now owns 205 shares of the footwear maker’s stock worth $29,000 after acquiring an additional 175 shares during the period. Addison Advisors LLC bought a new position in shares of NIKE during the 4th quarter worth approximately $30,000. Finally, DB Wealth Management Group LLC bought a new position in shares of NIKE during the 4th quarter worth approximately $30,000. Institutional investors own 64.20% of the company’s stock.

In related news, VP Chris L. Abston sold 30,000 shares of the stock in a transaction that occurred on Thursday, January 7th. The stock was sold at an average price of $145.00, for a total transaction of $4,350,000.00. Also, COO Andrew Campion sold 120,000 shares of the stock in a transaction that occurred on Tuesday, December 8th. The shares were sold at an average price of $140.00, for a total value of $16,800,000.00. The disclosure for this sale can be found here. Insiders have sold 444,500 shares of company stock valued at $62,461,870 over the last ninety days. 3.80% of the stock is currently owned by company insiders.

Several research analysts have recently commented on NKE shares. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their target price on NIKE from $137.00 to $157.00 in a research note on Monday, December 21st. Morgan Stanley boosted their price target on NIKE from $165.00 to $176.00 and gave the company an “overweight” rating in a research note on Monday, December 21st. JPMorgan Chase & Co. set a $170.00 price target on NIKE and gave the company a “buy” rating in a research note on Monday, January 4th. Cowen boosted their price target on NIKE from $150.00 to $165.00 in a research note on Tuesday, December 8th. Finally, BTIG Research boosted their price target on NIKE from $152.00 to $162.00 in a research note on Monday, December 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-nine have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $154.63.

Shares of NIKE stock traded down $2.52 on Tuesday, hitting $134.15. The company had a trading volume of 539,970 shares, compared to its average volume of 5,287,014. The stock has a market capitalization of $211.49 billion, a price-to-earnings ratio of 76.61, a P/E/G ratio of 2.51 and a beta of 0.83. NIKE, Inc. has a 1 year low of $60.00 and a 1 year high of $147.95. The stock has a 50 day moving average of $141.23 and a 200-day moving average of $129.43. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.97 and a current ratio of 2.66.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 17th. The footwear maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.63 by $0.15. The firm had revenue of $11.24 billion during the quarter, compared to the consensus estimate of $10.51 billion. NIKE had a return on equity of 34.89% and a net margin of 7.39%. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.70 earnings per share. Equities analysts anticipate that NIKE, Inc. will post 2.96 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 1st. Investors of record on Monday, March 1st will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend is Friday, February 26th. NIKE’s payout ratio is 59.46%.

NIKE Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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