W.G. Shaheen & Associates DBA Whitney & Co trimmed its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 32.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 80,296 shares of the footwear maker's stock after selling 39,302 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co's holdings in NIKE were worth $5,116,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in NKE. Main Street Financial Solutions LLC raised its position in shares of NIKE by 4.2% in the second quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker's stock valued at $244,000 after buying an additional 139 shares during the last quarter. Spirepoint Private Client LLC grew its holdings in NIKE by 0.4% in the third quarter. Spirepoint Private Client LLC now owns 36,140 shares of the footwear maker's stock valued at $2,520,000 after purchasing an additional 153 shares during the period. Diligent Investors LLC grew its holdings in NIKE by 4.3% in the fourth quarter. Diligent Investors LLC now owns 3,719 shares of the footwear maker's stock valued at $237,000 after purchasing an additional 153 shares during the period. CVA Family Office LLC grew its holdings in NIKE by 8.0% in the third quarter. CVA Family Office LLC now owns 2,113 shares of the footwear maker's stock valued at $147,000 after purchasing an additional 156 shares during the period. Finally, Naples Global Advisors LLC grew its holdings in NIKE by 1.9% in the third quarter. Naples Global Advisors LLC now owns 8,514 shares of the footwear maker's stock valued at $597,000 after purchasing an additional 159 shares during the period. 64.25% of the stock is owned by institutional investors.
Analyst Ratings Changes
NKE has been the subject of a number of recent analyst reports. Wall Street Zen downgraded shares of NIKE from a "hold" rating to a "sell" rating in a report on Saturday, April 18th. Williams Trading lowered their target price on shares of NIKE from $80.00 to $57.00 and set a "buy" rating for the company in a report on Wednesday, April 1st. Bank of America restated a "neutral" rating and issued a $55.00 target price (down from $73.00) on shares of NIKE in a report on Wednesday, April 1st. Barclays decreased their price objective on shares of NIKE from $73.00 to $67.00 and set an "overweight" rating for the company in a research note on Wednesday, April 1st. Finally, DZ Bank reiterated a "buy" rating on shares of NIKE in a research note on Tuesday, April 21st. Seventeen equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, NIKE has an average rating of "Hold" and a consensus target price of $62.34.
Get Our Latest Report on NKE
Insider Transactions at NIKE
In other news, Director John W. Rogers, Jr. purchased 4,000 shares of the firm's stock in a transaction that occurred on Thursday, April 9th. The stock was acquired at an average cost of $43.34 per share, for a total transaction of $173,360.00. Following the completion of the purchase, the director owned 41,022 shares of the company's stock, valued at approximately $1,777,893.48. This trade represents a 10.80% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Timothy D. Cook acquired 25,000 shares of the business's stock in a transaction on Friday, April 10th. The shares were purchased at an average price of $42.43 per share, for a total transaction of $1,060,750.00. Following the purchase, the director directly owned 130,480 shares of the company's stock, valued at $5,536,266.40. This represents a 23.70% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 64,441 shares of company stock valued at $2,734,204 over the last ninety days. 0.80% of the stock is currently owned by company insiders.
NIKE Price Performance
Shares of NKE stock opened at $44.36 on Thursday. The company has a market capitalization of $65.69 billion, a PE ratio of 29.38, a price-to-earnings-growth ratio of 2.39 and a beta of 1.31. The firm has a fifty day simple moving average of $51.81 and a 200-day simple moving average of $59.86. The company has a current ratio of 2.14, a quick ratio of 1.45 and a debt-to-equity ratio of 0.50. NIKE, Inc. has a twelve month low of $42.09 and a twelve month high of $80.17.
NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.06. The business had revenue of $11.28 billion during the quarter, compared to the consensus estimate of $11.23 billion. NIKE had a net margin of 4.84% and a return on equity of 16.41%. The business's quarterly revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.54 earnings per share. Equities research analysts anticipate that NIKE, Inc. will post 1.52 earnings per share for the current fiscal year.
NIKE Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd were paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Monday, March 2nd. NIKE's dividend payout ratio is 108.61%.
NIKE Profile
(
Free Report)
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).
Further Reading
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