Gilder Gagnon Howe & Co. LLC Sells 36,040 Shares of NIKE, Inc. (NYSE:NKE)

Gilder Gagnon Howe & Co. LLC lowered its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 54.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,488 shares of the footwear maker's stock after selling 36,040 shares during the period. Gilder Gagnon Howe & Co. LLC's holdings in NIKE were worth $2,307,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NKE. Range Financial Group LLC bought a new position in shares of NIKE during the 4th quarter valued at about $642,000. Cacti Asset Management LLC acquired a new position in NIKE during the 4th quarter worth approximately $9,987,000. Capricorn Fund Managers Ltd bought a new position in shares of NIKE during the 4th quarter worth approximately $5,384,000. Klein Pavlis & Peasley Financial Inc. raised its holdings in shares of NIKE by 31.1% in the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker's stock valued at $1,955,000 after purchasing an additional 6,124 shares during the last quarter. Finally, FNY Investment Advisers LLC lifted its position in shares of NIKE by 5,745.9% in the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker's stock worth $654,000 after purchasing an additional 8,504 shares in the last quarter. Institutional investors own 64.25% of the company's stock.

NIKE Trading Down 1.9 %

NYSE:NKE traded down $1.08 during trading hours on Wednesday, hitting $56.46. 17,170,129 shares of the company were exchanged, compared to its average volume of 14,496,745. The stock has a market capitalization of $83.51 billion, a price-to-earnings ratio of 17.43, a price-to-earnings-growth ratio of 2.52 and a beta of 1.15. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a one year low of $52.28 and a one year high of $98.04. The company has a fifty day simple moving average of $65.97 and a 200 day simple moving average of $72.60.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results 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. 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%. NIKE's revenue for the quarter was down 9.1% compared to the same quarter last year. During the same period last year, the company earned $0.98 EPS. Sell-side analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date was Monday, March 3rd. NIKE's dividend payout ratio (DPR) is currently 53.16%.

Wall Street Analyst Weigh In

Several research analysts recently commented on NKE shares. Bank of America reduced their target price on shares of NIKE from $90.00 to $80.00 and set a "buy" rating for the company in a report on Friday, April 25th. Wells Fargo & Company cut shares of NIKE from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $75.00 to $55.00 in a report on Wednesday. Piper Sandler reduced their target price on shares of NIKE from $90.00 to $70.00 and set an "overweight" rating for the company in a report on Friday, April 11th. Needham & Company LLC reduced their target price on shares of NIKE from $84.00 to $80.00 and set a "buy" rating for the company in a report on Monday, March 17th. Finally, BMO Capital Markets cut their price target on shares of NIKE from $95.00 to $92.00 and set an "outperform" rating for the company in a research note on Friday, March 21st. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $81.15.

Insider Buying and Selling

In other NIKE news, Director Robert Holmes Swan purchased 8,600 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The stock was bought at an average cost of $58.46 per share, with a total value of $502,756.00. Following the completion of the transaction, the director now owns 31,983 shares of the company's stock, valued at $1,869,726.18. The trade was a 36.78 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares of the company's stock, valued at $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

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.