LaFleur & Godfrey LLC Trims Stock Position in NIKE, Inc. (NYSE:NKE)

LaFleur & Godfrey LLC lessened its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 50.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,028 shares of the footwear maker's stock after selling 17,121 shares during the quarter. LaFleur & Godfrey LLC's holdings in NIKE were worth $1,081,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of NKE. Elgethun Capital Management raised its holdings in NIKE by 13.7% in the 4th quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker's stock worth $94,000 after purchasing an additional 149 shares during the period. AlTi Global Inc. increased its position in NIKE by 0.4% in the fourth quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker's stock worth $2,813,000 after buying an additional 150 shares in the last quarter. Staley Capital Advisers Inc. raised its stake in shares of NIKE by 4.4% in the fourth quarter. Staley Capital Advisers Inc. now owns 3,773 shares of the footwear maker's stock worth $286,000 after buying an additional 160 shares during the period. Cohen & Steers Inc. lifted its position in shares of NIKE by 5.3% during the 4th quarter. Cohen & Steers Inc. now owns 3,171 shares of the footwear maker's stock valued at $240,000 after buying an additional 160 shares in the last quarter. Finally, Nwam LLC grew its stake in shares of NIKE by 2.9% during the 4th quarter. Nwam LLC now owns 6,318 shares of the footwear maker's stock valued at $478,000 after acquiring an additional 176 shares during the period. Institutional investors own 64.25% of the company's stock.

Insiders Place Their Bets

In related news, Director Robert Holmes Swan bought 8,600 shares of the stock in a transaction dated Friday, April 4th. The stock was purchased at an average cost of $58.46 per share, with a total value of $502,756.00. Following the completion of the purchase, the director now owns 31,983 shares of the company's stock, valued at $1,869,726.18. This trade represents a 36.78% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Stifel Nicolaus decreased their target price on shares of NIKE from $75.00 to $64.00 and set a "hold" rating on the stock in a research note on Thursday, April 10th. Dbs Bank raised shares of NIKE from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Wells Fargo & Company raised their price objective on shares of NIKE from $55.00 to $60.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 14th. Jefferies Financial Group reaffirmed a "buy" rating on shares of NIKE in a report on Friday, May 23rd. Finally, Barclays decreased their price target on NIKE from $60.00 to $53.00 and set an "equal weight" rating on the stock in a report on Wednesday, June 18th. Sixteen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, NIKE has a consensus rating of "Moderate Buy" and an average target price of $77.59.

NIKE Trading Down 0.9%

Shares of NYSE NKE traded down $0.58 during midday trading on Wednesday, hitting $60.84. The company's stock had a trading volume of 12,144,584 shares, compared to its average volume of 15,293,621. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $97.64. The company has a current ratio of 2.19, a quick ratio of 1.52 and a debt-to-equity ratio of 0.57. The firm has a market cap of $89.99 billion, a P/E ratio of 20.21, a price-to-earnings-growth ratio of 2.16 and a beta of 1.21. The business's 50 day moving average is $60.02 and its two-hundred day moving average is $67.78.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE's dividend payout ratio (DPR) is presently 53.16%.

About NIKE

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.