Kovitz Investment Group Partners LLC Sells 37,887 Shares of NIKE, Inc. (NYSE:NKE)

Kovitz Investment Group Partners LLC decreased its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 39.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 56,988 shares of the footwear maker's stock after selling 37,887 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in NIKE were worth $4,312,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Caitlin John LLC lifted its stake in NIKE by 117.0% during the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker's stock valued at $28,000 after acquiring an additional 200 shares in the last quarter. Heck Capital Advisors LLC bought a new stake in NIKE in the 4th quarter worth about $28,000. Roxbury Financial LLC purchased a new stake in NIKE in the 4th quarter valued at about $30,000. LFA Lugano Financial Advisors SA lifted its position in shares of NIKE by 110.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock worth $30,000 after buying an additional 210 shares in the last quarter. Finally, Hopwood Financial Services Inc. purchased a new position in shares of NIKE in the 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 64.25% of the company's stock.

Wall Street Analysts Forecast Growth

NKE has been the subject of several research analyst reports. Bank of America decreased their target price on NIKE from $90.00 to $80.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Stifel Nicolaus reduced their price objective on NIKE from $75.00 to $64.00 and set a "hold" rating for the company in a report on Thursday, April 10th. Needham & Company LLC lowered their target price on NIKE from $84.00 to $80.00 and set a "buy" rating on the stock in a research note on Monday, March 17th. Cfra Research upgraded NIKE to a "moderate buy" rating in a research note on Friday, March 21st. Finally, Citigroup dropped 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. Seventeen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $81.15.

Insider Buying and Selling at NIKE

In related news, Director Robert Holmes Swan acquired 8,600 shares of the stock in a transaction on Friday, April 4th. The stock was acquired at an average price of $58.46 per share, for a total transaction 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 represents a 36.78 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the sale, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company's stock.

NIKE Trading Up 0.7 %

Shares of NYSE:NKE traded up $0.40 on Thursday, hitting $56.80. The company had a trading volume of 10,507,319 shares, compared to its average volume of 14,480,931. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $98.04. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The firm's 50-day simple moving average is $65.57 and its two-hundred day simple moving average is $72.49. The firm has a market capitalization of $84.01 billion, a price-to-earnings ratio of 17.53, a P/E/G ratio of 2.52 and a beta of 1.15.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 EPS 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 analyst estimates of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company's revenue for the quarter was down 9.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.98 earnings per share. Equities analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal 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 paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.82%. NIKE's dividend payout ratio is 53.16%.

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.