Woodline Partners LP Cuts Stock Holdings in NIKE, Inc. (NYSE:NKE)

Woodline Partners LP decreased its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 84.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,308 shares of the footwear maker's stock after selling 376,723 shares during the period. Woodline Partners LP's holdings in NIKE were worth $5,093,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. XML Financial LLC increased its position in shares of NIKE by 11.5% during the fourth quarter. XML Financial LLC now owns 2,991 shares of the footwear maker's stock worth $226,000 after purchasing an additional 309 shares in the last quarter. SG Americas Securities LLC increased its position in NIKE by 107.3% during the 4th quarter. SG Americas Securities LLC now owns 22,082 shares of the footwear maker's stock valued at $1,671,000 after buying an additional 322,969 shares in the last quarter. Mutual Advisors LLC raised its stake in NIKE by 2.5% in the fourth quarter. Mutual Advisors LLC now owns 30,162 shares of the footwear maker's stock valued at $2,145,000 after buying an additional 744 shares during the last quarter. Secure Asset Management LLC boosted its holdings in NIKE by 552.5% in the fourth quarter. Secure Asset Management LLC now owns 27,443 shares of the footwear maker's stock worth $2,077,000 after acquiring an additional 23,237 shares in the last quarter. Finally, Brighton Jones LLC increased its holdings in shares of NIKE by 388.5% during the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock valued at $15,316,000 after acquiring an additional 160,980 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NKE. Needham & Company LLC reduced their price target on shares of NIKE from $84.00 to $80.00 and set a "buy" rating for the company in a research report on Monday, March 17th. Morgan Stanley cut their price objective on shares of NIKE from $72.00 to $70.00 and set an "equal weight" rating on the stock in a research note on Friday, March 21st. JPMorgan Chase & Co. decreased their target price on shares of NIKE from $64.00 to $56.00 and set a "neutral" rating for the company in a research report on Monday, May 5th. Berenberg Bank initiated coverage on NIKE in a research report on Tuesday, April 15th. They set a "hold" rating and a $58.00 price target on the stock. Finally, Telsey Advisory Group reduced their price objective on NIKE from $80.00 to $70.00 and set a "market perform" rating for the company in a research note on Tuesday, May 6th. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $80.26.

Insider Transactions at NIKE

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

NIKE Trading Up 4.6%

NIKE stock traded up $2.76 during midday trading on Tuesday, hitting $62.78. 16,632,550 shares of the stock were exchanged, compared to its average volume of 14,978,971. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The stock's 50-day simple moving average is $59.63 and its 200 day simple moving average is $70.00. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $98.04. The stock has a market capitalization of $92.86 billion, a price-to-earnings ratio of 19.38, a PEG ratio of 2.52 and a beta of 1.23.

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

NIKE Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.55%. NIKE's dividend payout ratio is currently 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.