NIKE, Inc. (NYSE:NKE) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC reduced its position in NIKE, Inc. (NYSE:NKE) by 4.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 433,339 shares of the footwear maker’s stock after selling 21,380 shares during the quarter. Commonwealth Equity Services LLC’s holdings in NIKE were worth $32,791,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of NKE. Harbour Investments Inc. boosted its stake in shares of NIKE by 6.6% in the 3rd quarter. Harbour Investments Inc. now owns 5,749 shares of the footwear maker’s stock valued at $508,000 after buying an additional 357 shares during the period. Curi RMB Capital LLC boosted its stake in shares of NIKE by 9.6% in the 3rd quarter. Curi RMB Capital LLC now owns 6,765 shares of the footwear maker’s stock valued at $598,000 after buying an additional 591 shares during the period. OneDigital Investment Advisors LLC boosted its stake in shares of NIKE by 7.8% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 16,792 shares of the footwear maker’s stock valued at $1,484,000 after buying an additional 1,217 shares during the period. CIBC Asset Management Inc boosted its stake in shares of NIKE by 7.1% in the 3rd quarter. CIBC Asset Management Inc now owns 185,320 shares of the footwear maker’s stock valued at $16,382,000 after buying an additional 12,351 shares during the period. Finally, Sheaff Brock Investment Advisors LLC lifted its stake in NIKE by 5.8% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 11,852 shares of the footwear maker’s stock worth $1,048,000 after purchasing an additional 646 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Trading Down 1.3 %

Shares of NKE stock opened at $71.72 on Friday. NIKE, Inc. has a fifty-two week low of $68.62 and a fifty-two week high of $101.92. The stock has a market cap of $106.08 billion, a P/E ratio of 22.14, a P/E/G ratio of 2.52 and a beta of 1.02. The business has a fifty day simple moving average of $74.68 and a 200-day simple moving average of $77.81. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last announced 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. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter last year, the business posted $1.03 earnings per share. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. On average, analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd 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 2.23%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s payout ratio is currently 49.38%.

Insider Activity at NIKE

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The shares were acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the purchase, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction dated 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. The trade was a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Bank of America decreased their target price on NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. JPMorgan Chase & Co. decreased their target price on NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research note on Monday, December 2nd. Evercore ISI decreased their target price on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Wells Fargo & Company reduced their price objective on NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a research note on Monday, December 16th. Finally, TD Cowen reduced their price objective on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research note on Monday, November 18th. Fourteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, NIKE has an average rating of “Moderate Buy” and a consensus price target of $89.69.

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.