NIKE, Inc. (NYSE:NKE) Position Reduced by Headinvest LLC

Headinvest LLC reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 15.6% 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 7,477 shares of the footwear maker’s stock after selling 1,380 shares during the period. Headinvest LLC’s holdings in NIKE were worth $566,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of NKE. Wellington Management Group LLP raised its position in shares of NIKE by 32.4% during the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock valued at $2,749,903,000 after acquiring an additional 8,898,591 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of NIKE by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker’s stock worth $1,915,110,000 after purchasing an additional 347,178 shares during the period. Capital World Investors raised its holdings in shares of NIKE by 10.3% during the fourth quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker’s stock worth $1,857,389,000 after purchasing an additional 2,288,627 shares during the period. Bank of New York Mellon Corp lifted its position in shares of NIKE by 18.1% in the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock worth $1,541,246,000 after buying an additional 3,121,929 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of NIKE in the 4th quarter valued at about $1,126,288,000. Institutional investors own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on NKE shares. Barclays cut their target price on shares of NIKE from $70.00 to $60.00 and set an “equal weight” rating on the stock in a report on Monday, May 12th. Robert W. Baird cut their price target on NIKE from $105.00 to $99.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Williams Trading reduced their price objective on NIKE from $93.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, April 21st. Wells Fargo & Company increased their target price on NIKE from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 14th. Finally, Needham & Company LLC cut their target price on NIKE from $84.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, March 17th. Seventeen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.26.

NIKE Stock Up 2.2%

Shares of NKE stock opened at $61.30 on Friday. 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 quick ratio of 1.51 and a current ratio of 2.22. The business’s fifty day moving average is $60.15 and its 200-day moving average is $70.31. The stock has a market cap of $90.67 billion, a PE ratio of 18.92, a price-to-earnings-growth ratio of 2.52 and a beta of 1.23.

NIKE (NYSE:NKE) last released its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. During the same period in the previous year, the company earned $0.98 earnings per share. NIKE’s revenue was down 9.1% compared to the same quarter last year. Equities analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be paid a $0.40 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.61%. NIKE’s dividend payout ratio is currently 53.16%.

Insider Buying and Selling

In other NIKE news, Director Robert Holmes Swan purchased 8,600 shares of the firm’s stock in a transaction on Friday, April 4th. The shares were purchased at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the transaction, the director now owns 31,983 shares in the company, valued at $1,869,726.18. This represents a 36.78% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.10% of the company’s stock.

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.