Harbor Investment Advisory LLC Decreases Position in NIKE, Inc. (NYSE:NKE)

Harbor Investment Advisory LLC lowered its position in shares of NIKE, Inc. (NYSE:NKE) by 7.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,637 shares of the footwear maker’s stock after selling 2,472 shares during the quarter. Harbor Investment Advisory LLC’s holdings in NIKE were worth $2,167,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Range Financial Group LLC acquired a new stake in NIKE during the 4th quarter worth $642,000. Cacti Asset Management LLC purchased a new position in shares of NIKE in the fourth quarter worth about $9,987,000. FNY Investment Advisers LLC boosted its position in NIKE by 5,745.9% during the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock worth $654,000 after acquiring an additional 8,504 shares during the last quarter. Eagle Rock Investment Company LLC grew its stake in NIKE by 49.2% during the 4th quarter. Eagle Rock Investment Company LLC now owns 60,642 shares of the footwear maker’s stock valued at $4,589,000 after acquiring an additional 19,991 shares in the last quarter. Finally, Mirador Capital Partners LP raised its holdings in NIKE by 69.8% in the 4th quarter. Mirador Capital Partners LP now owns 72,986 shares of the footwear maker’s stock valued at $5,523,000 after acquiring an additional 30,011 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at NIKE

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of NIKE stock in a transaction on Friday, December 27th. The stock was bought at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, the director now owns 34,403 shares in the company, valued at $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Jefferies Financial Group upped their price target on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Monday, September 30th. Robert W. Baird dropped their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, December 23rd. Telsey Advisory Group lowered NIKE from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $93.00 to $80.00 in a report on Friday, December 20th. Evercore ISI dropped their price objective on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $84.00 target price on shares of NIKE in a research note on Friday, December 20th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $89.96.

NIKE Stock Down 0.3 %

NIKE stock opened at $70.89 on Tuesday. The stock’s fifty day moving average is $75.77 and its two-hundred day moving average is $77.95. The stock has a market cap of $104.85 billion, a PE ratio of 21.88, a P/E/G ratio of 2.26 and a beta of 1.02. NIKE, Inc. has a 1-year low of $70.32 and a 1-year high of $107.43. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter in the previous year, the business earned $1.03 earnings per share. The firm’s revenue was down 7.7% compared to the same quarter last year. On average, sell-side analysts expect that NIKE, Inc. will post 2.1 EPS for the current fiscal year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a $0.40 dividend. The ex-dividend date was Monday, December 2nd. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a yield of 2.26%. NIKE’s payout ratio is 49.38%.

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.