Steward Partners Investment Advisory LLC Decreases Position in NIKE, Inc. (NYSE:NKE)

Steward Partners Investment Advisory LLC decreased its stake in NIKE, Inc. (NYSE:NKE) by 4.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 94,783 shares of the footwear maker’s stock after selling 4,545 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in NIKE were worth $7,172,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of NKE. State Street Corp boosted its stake in NIKE by 3.3% during the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock worth $5,140,796,000 after buying an additional 1,862,021 shares during the period. Wellington Management Group LLP lifted its holdings in shares of NIKE by 5.1% in the 3rd quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock worth $2,425,886,000 after acquiring an additional 1,343,093 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of NIKE by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock worth $2,204,451,000 after purchasing an additional 251,411 shares during the period. Bank of New York Mellon Corp lifted its stake in NIKE by 18.1% in the fourth 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 purchasing an additional 3,121,929 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its position in shares of NIKE by 6.0% during the third quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock valued at $910,801,000 after buying an additional 583,207 shares during the period. Institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NKE. BMO Capital Markets increased their price target on NIKE from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. reduced their target price on NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research note on Monday, December 2nd. Bank of America lowered their target price on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Citigroup downgraded shares of NIKE from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $102.00 to $72.00 in a research note on Friday, February 7th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research report on Monday, December 16th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, NIKE has an average rating of “Moderate Buy” and a consensus price target of $89.77.

Insider Transactions at NIKE

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of the stock in a transaction dated Friday, December 27th. The stock was acquired 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 of the company’s stock, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $12,361,581.56. Following the completion of the transaction, 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. Insiders own 1.10% of the company’s stock.

NIKE Trading Up 0.6 %

NYSE NKE opened at $77.76 on Thursday. The firm has a market cap of $115.01 billion, a PE ratio of 24.00, a price-to-earnings-growth ratio of 2.52 and a beta of 1.01. NIKE, Inc. has a 52 week low of $68.62 and a 52 week high of $102.49. 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 company has a 50 day moving average price of $74.70 and a 200 day moving average price of $78.25.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.63 by $0.15. The firm had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.03 EPS. As a group, sell-side analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.06%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio is presently 49.38%.

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.