Oakworth Capital Inc. Cuts Stake in NIKE, Inc. (NYSE:NKE)

Oakworth Capital Inc. lessened its stake in shares of NIKE, Inc. (NYSE:NKE) by 34.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,361 shares of the footwear maker’s stock after selling 705 shares during the period. Oakworth Capital Inc.’s holdings in NIKE were worth $103,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Garrison Point Advisors LLC grew its position in NIKE by 1.9% during the third quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock worth $593,000 after buying an additional 126 shares during the period. Stephens Consulting LLC boosted its stake in shares of NIKE by 20.0% during the 3rd quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock worth $68,000 after acquiring an additional 128 shares in the last quarter. PSI Advisors LLC grew its holdings in shares of NIKE by 26.3% in the 3rd quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock worth $55,000 after acquiring an additional 130 shares during the period. Meridian Financial Partners LLC increased its stake in NIKE by 1.6% in the 3rd quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock valued at $742,000 after purchasing an additional 133 shares in the last quarter. Finally, Frisch Financial Group Inc. raised its holdings in NIKE by 4.7% during the third quarter. Frisch Financial Group Inc. now owns 3,036 shares of the footwear maker’s stock worth $269,000 after purchasing an additional 136 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other NIKE news, Director John W. Rogers, Jr. acquired 2,500 shares of the firm’s stock in a transaction on Friday, December 27th. The stock was 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 directly 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.10% of the company’s stock.

NIKE Stock Down 3.8 %

Shares of NYSE NKE opened at $71.75 on Friday. The stock has a market capitalization of $106.13 billion, a PE ratio of 22.15, a P/E/G ratio of 2.50 and a beta of 1.01. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The firm has a fifty day moving average of $75.45 and a 200-day moving average of $78.10. NIKE, Inc. has a 52-week low of $70.32 and a 52-week high of $107.43.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The firm had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.03 earnings per share. On average, analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.23%. This is a boost from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is presently 49.38%.

Analysts Set New Price Targets

Several research firms have weighed in on NKE. UBS Group reissued a “neutral” rating and issued a $73.00 target price on shares of NIKE in a report on Thursday, December 26th. Stifel Nicolaus lowered their price objective on shares of NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research note on Friday, December 20th. Telsey Advisory Group restated a “market perform” rating and set a $80.00 target price on shares of NIKE in a research report on Thursday. Morgan Stanley lowered their price target on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Finally, Evercore ISI reduced their target price on NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and a consensus price target of $89.77.

NIKE Company 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.