North Star Asset Management Inc. Sells 12,254 Shares of NIKE, Inc. (NYSE:NKE)

North Star Asset Management Inc. lessened its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 13.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 81,529 shares of the footwear maker's stock after selling 12,254 shares during the period. North Star Asset Management Inc.'s holdings in NIKE were worth $6,169,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of NKE. Norges Bank acquired a new position in shares of NIKE during the 4th quarter valued at about $1,126,288,000. Wellington Management Group LLP boosted its position in shares of NIKE by 32.4% during the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock valued at $2,749,903,000 after acquiring an additional 8,898,591 shares during the last quarter. Pacer Advisors Inc. raised its holdings in NIKE by 6,029.6% in the 4th quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker's stock valued at $516,166,000 after buying an additional 6,709,985 shares during the period. Bank of New York Mellon Corp raised its holdings in NIKE by 18.1% in the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker's stock valued at $1,541,246,000 after buying an additional 3,121,929 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in NIKE by 1,302.7% in the 4th quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker's stock valued at $196,901,000 after buying an additional 2,416,601 shares during the period. Institutional investors and hedge funds own 64.25% of the company's stock.

NIKE Trading Up 4.6%

Shares of NYSE:NKE traded up $2.76 during midday trading on Tuesday, reaching $62.78. The company had a trading volume of 16,632,550 shares, compared to its average volume of 14,978,992. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $98.04. The firm has a market cap of $92.86 billion, a price-to-earnings ratio of 19.38, a price-to-earnings-growth ratio of 2.52 and a beta of 1.23. The company has a fifty day simple moving average of $59.63 and a two-hundred day simple moving average of $70.00.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. During the same period in the prior year, the business earned $0.98 EPS. The business's revenue for the quarter was down 9.1% on a year-over-year basis. Research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date is Monday, June 2nd. NIKE's payout ratio is 53.16%.

Wall Street Analyst Weigh In

NKE has been the topic of several research analyst reports. Jefferies Financial Group restated a "buy" rating on shares of NIKE in a report on Friday. UBS Group reduced their price objective on shares of NIKE from $73.00 to $66.00 and set a "neutral" rating on the stock in a report on Friday, March 21st. Morgan Stanley reduced their price objective on shares of NIKE from $72.00 to $70.00 and set an "equal weight" rating on the stock in a report on Friday, March 21st. Wells Fargo & Company boosted their price objective on shares of NIKE from $55.00 to $60.00 and gave the company an "equal weight" rating in a report on Wednesday, May 14th. Finally, Citigroup reduced their price objective on shares of NIKE from $72.00 to $57.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. Seventeen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $80.26.

Insider Activity at NIKE

In other news, Director Robert Holmes Swan acquired 8,600 shares of the firm's stock in a transaction dated Friday, April 4th. The shares were bought at an average price of $58.46 per share, with a total value of $502,756.00. Following the acquisition, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is owned by company insiders.

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.