Jefferies Financial Group Inc. Sells 197,176 Shares of NIKE, Inc. $NKE

Key Points

• Jefferies Financial Group slashed its NIKE stake by 78.6% in the fourth quarter, selling 197,176 shares and ending with 53,694 shares worth about $3.42 million.
• NIKE reported quarterly earnings of $0.35 per share, topping estimates, while revenue came in at $11.28 billion and roughly matched expectations. Analysts now forecast full-year EPS of 1.51.
• The company announced a quarterly dividend of $0.41 per share, payable July 1, which implies an annualized yield of 3.7%. Meanwhile, analysts remain mixed, with a consensus rating of Hold and a consensus target price of $62.04.

Jefferies Financial Group Inc. decreased its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 78.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,694 shares of the footwear maker's stock after selling 197,176 shares during the period. Jefferies Financial Group Inc.'s holdings in NIKE were worth $3,421,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mizuho Markets Cayman LP bought a new stake in NIKE in the third quarter valued at approximately $34,200,000. PFA Pension Forsikringsaktieselskab bought a new stake in NIKE in the fourth quarter valued at approximately $43,188,000. Strive Asset Management LLC bought a new stake in NIKE in the third quarter valued at approximately $1,743,000. Nicholas Company Inc. increased its stake in shares of NIKE by 33.3% during the fourth quarter. Nicholas Company Inc. now owns 123,652 shares of the footwear maker's stock worth $7,878,000 after purchasing an additional 30,890 shares during the period. Finally, Park National Corp OH increased its stake in shares of NIKE by 81.5% during the fourth quarter. Park National Corp OH now owns 431,055 shares of the footwear maker's stock worth $27,463,000 after purchasing an additional 193,514 shares during the period. Institutional investors own 64.25% of the company's stock.

Insider Buying and Selling

In related news, Director John W. Rogers, Jr. acquired 4,000 shares of the stock in a transaction on Thursday, April 9th. The shares were purchased at an average price of $43.34 per share, for a total transaction of $173,360.00. Following the purchase, the director directly owned 41,022 shares in the company, valued at approximately $1,777,893.48. The trade was a 10.80% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert Holmes Swan acquired 11,781 shares of the stock in a transaction on Tuesday, April 7th. The shares were bought at an average price of $42.44 per share, for a total transaction of $499,985.64. Following the purchase, the director owned 55,074 shares in the company, valued at approximately $2,337,340.56. This trade represents a 27.21% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought 64,441 shares of company stock worth $2,734,204 in the last quarter. Insiders own 0.80% of the company's stock.

NIKE Price Performance

Shares of NYSE NKE opened at $44.85 on Wednesday. The business's 50 day moving average is $46.22 and its 200-day moving average is $57.04. NIKE, Inc. has a 1-year low of $41.35 and a 1-year high of $80.17. The company has a current ratio of 2.14, a quick ratio of 1.45 and a debt-to-equity ratio of 0.50. The firm has a market cap of $66.42 billion, a P/E ratio of 29.70, a price-to-earnings-growth ratio of 2.37 and a beta of 1.12.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.06. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The firm had revenue of $11.28 billion for the quarter, compared to analyst estimates of $11.23 billion. During the same quarter last year, the company earned $0.54 EPS. The company's revenue was up .1% on a year-over-year basis. Equities research analysts predict that NIKE, Inc. will post 1.51 earnings per share for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Monday, June 1st. NIKE's dividend payout ratio (DPR) is 108.61%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Evercore lowered their target price on NIKE from $69.00 to $57.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 1st. Jefferies Financial Group lowered their target price on NIKE from $110.00 to $90.00 and set a "buy" rating on the stock in a research note on Wednesday, April 1st. UBS Group lowered their target price on NIKE from $58.00 to $54.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 1st. CICC Research lowered NIKE from an "outperform" rating to a "market perform" rating and lowered their target price for the stock from $69.00 to $58.00 in a research note on Monday, April 6th. Finally, Bank of America reiterated a "neutral" rating and set a $55.00 target price (down from $73.00) on shares of NIKE in a research note on Wednesday, April 1st. Sixteen equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $62.04.

NIKE Company Profile

Nike, Inc NYSE: NKE is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).

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