NIKE, Inc. (NYSE:NKE) Shares Sold by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC decreased its holdings in NIKE, Inc. (NYSE:NKE) by 5.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,845 shares of the footwear maker’s stock after selling 310 shares during the period. Alpha Cubed Investments LLC’s holdings in NIKE were worth $442,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. State Street Corp increased its holdings in shares of NIKE by 3.3% in the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after purchasing an additional 1,862,021 shares during the last quarter. Wellington Management Group LLP grew its holdings in NIKE by 5.1% in the 3rd quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock valued at $2,425,886,000 after buying an additional 1,343,093 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of NIKE by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock worth $2,204,451,000 after acquiring an additional 251,411 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of NIKE by 5.5% during the 2nd quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock worth $832,785,000 after acquiring an additional 571,544 shares during the period. Finally, Fisher Asset Management LLC boosted its position in shares of NIKE by 6.0% during the 3rd quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock valued at $910,801,000 after acquiring an additional 583,207 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at NIKE

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of NIKE stock in a transaction that occurred on Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the transaction, the director now directly owns 34,403 shares in the company, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

NIKE Trading Up 3.4 %

Shares of NYSE:NKE opened at $73.22 on Wednesday. The company has a market cap of $108.30 billion, a PE ratio of 22.60, a P/E/G ratio of 2.25 and a beta of 1.02. The company’s 50 day moving average is $75.66 and its two-hundred day moving average is $77.92. NIKE, Inc. has a 52 week low of $70.32 and a 52 week high of $107.43. 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 (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The company had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. NIKE’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period last year, the firm earned $1.03 earnings per share. Equities analysts predict that NIKE, Inc. will post 2.1 earnings per share for the current fiscal year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were paid a dividend of $0.40 per share. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.60 annualized dividend and a yield of 2.19%. NIKE’s payout ratio is presently 49.38%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on NKE. Guggenheim cut their price objective on shares of NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Morgan Stanley reduced their price target on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Stifel Nicolaus lowered their price objective on NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research report on Friday, December 20th. TD Cowen reduced their target price on NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research report on Monday, November 18th. Finally, JPMorgan Chase & Co. lowered their price target on NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a report on Monday, December 2nd. Fourteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $89.96.

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.