Forte Capital LLC ADV Lowers Holdings in NIKE, Inc. (NYSE:NKE)

Forte Capital LLC ADV decreased its holdings in NIKE, Inc. (NYSE:NKE) by 12.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,000 shares of the footwear maker’s stock after selling 3,650 shares during the quarter. Forte Capital LLC ADV’s holdings in NIKE were worth $1,967,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Teachers Insurance & Annuity Association of America purchased a new position in shares of NIKE in the third quarter valued at approximately $30,000. Caitlin John LLC lifted its stake in NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 200 shares during the last quarter. Heck Capital Advisors LLC purchased a new position in NIKE in the fourth quarter worth approximately $28,000. Roxbury Financial LLC purchased a new position in NIKE in the fourth quarter worth approximately $30,000. Finally, Dunhill Financial LLC lifted its stake in NIKE by 52.2% in the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after acquiring an additional 169 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Transactions at NIKE

In other news, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the transaction, the chairman now directly owns 896,632 shares of the company’s stock, valued at $65,301,708.56. This represents a 15.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John W. Rogers, Jr. purchased 2,500 shares of the stock in a transaction dated Friday, December 27th. The shares were bought at an average cost 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 approximately $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company’s stock.

NIKE Stock Performance

Shares of NKE opened at $77.19 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The stock has a market capitalization of $114.17 billion, a P/E ratio of 23.82, a P/E/G ratio of 2.53 and a beta of 1.01. The company’s fifty day moving average is $74.33 and its two-hundred day moving average is $78.05. NIKE, Inc. has a 1 year low of $68.62 and a 1 year high of $106.62.

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, topping analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. During the same period in the prior year, the company posted $1.03 EPS. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. On average, sell-side analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.07%. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

Wall Street Analyst Weigh In

NKE has been the subject of a number of recent research reports. UBS Group reiterated a “neutral” rating and issued a $73.00 price target on shares of NIKE in a research note on Thursday, December 26th. DA Davidson upgraded shares of NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Guggenheim restated a “buy” rating and set a $110.00 price objective on shares of NIKE in a research report on Wednesday, February 12th. Needham & Company LLC restated a “buy” rating and set a $84.00 price objective on shares of NIKE in a research report on Friday, February 7th. Finally, Morgan Stanley reduced their price objective on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Fifteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $88.62.

NIKE 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.