Anchor Investment Management LLC Lowers Position in NIKE, Inc. (NYSE:NKE)

Anchor Investment Management LLC trimmed its stake in shares of NIKE, Inc. (NYSE:NKE) by 13.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,702 shares of the footwear maker’s stock after selling 268 shares during the period. Anchor Investment Management LLC’s holdings in NIKE were worth $129,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Tidal Investments LLC lifted its position in NIKE by 65.4% during the third quarter. Tidal Investments LLC now owns 105,571 shares of the footwear maker’s stock valued at $9,332,000 after purchasing an additional 41,752 shares during the last quarter. Denver PWM LLC lifted its holdings in shares of NIKE by 9.7% in the 3rd quarter. Denver PWM LLC now owns 2,574 shares of the footwear maker’s stock valued at $228,000 after acquiring an additional 227 shares during the last quarter. Confluence Investment Management LLC grew its position in NIKE by 6.3% in the fourth quarter. Confluence Investment Management LLC now owns 246,080 shares of the footwear maker’s stock worth $18,621,000 after acquiring an additional 14,592 shares in the last quarter. Cacti Asset Management LLC bought a new stake in NIKE during the fourth quarter worth approximately $9,987,000. Finally, GAMMA Investing LLC raised its position in NIKE by 1.0% during the fourth quarter. GAMMA Investing LLC now owns 15,014 shares of the footwear maker’s stock valued at $1,136,000 after purchasing an additional 150 shares during the period. 64.25% of the stock is currently owned by institutional investors.

NIKE Price Performance

NKE opened at $53.60 on Thursday. The firm has a market capitalization of $79.28 billion, a PE ratio of 16.54, a price-to-earnings-growth ratio of 2.52 and a beta of 1.15. The business’s 50-day moving average is $69.01 and its two-hundred day moving average is $74.31. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $98.04. 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 quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. During the same quarter in the previous year, the business posted $0.98 EPS. NIKE’s revenue was down 9.1% on a year-over-year basis. Research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.99%. NIKE’s dividend payout ratio (DPR) is 53.16%.

Insider Activity at NIKE

In other NIKE news, Director Robert Holmes Swan purchased 8,600 shares of the company’s stock in a transaction dated Friday, April 4th. The shares were acquired at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the purchase, the director now owns 31,983 shares of the company’s stock, valued at approximately $1,869,726.18. The trade was a 36.78 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 transaction of $12,361,581.56. Following the completion of the transaction, 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 currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Guggenheim reiterated a “buy” rating and issued a $110.00 target price on shares of NIKE in a report on Wednesday, February 12th. China Renaissance began coverage on shares of NIKE in a research note on Wednesday, March 19th. They set a “hold” rating for the company. BMO Capital Markets reduced their target price on shares of NIKE from $95.00 to $92.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. UBS Group dropped their price target on shares of NIKE from $73.00 to $66.00 and set a “neutral” rating for the company in a research note on Friday, March 21st. Finally, Stifel Nicolaus reduced their price objective on shares of NIKE from $75.00 to $64.00 and set a “hold” rating on the stock in a research report on Thursday, April 10th. Sixteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, NIKE has an average rating of “Moderate Buy” and a consensus price target of $85.15.

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.