Freestone Capital Holdings LLC Sells 25,532 Shares of NIKE, Inc. (NYSE:NKE)

Freestone Capital Holdings LLC decreased its holdings in NIKE, Inc. (NYSE:NKE) by 4.7% in the 4th quarter, HoldingsChannel reports. The firm owned 519,107 shares of the footwear maker’s stock after selling 25,532 shares during the quarter. NIKE accounts for approximately 1.4% of Freestone Capital Holdings LLC’s portfolio, making the stock its 13th largest position. Freestone Capital Holdings LLC’s holdings in NIKE were worth $39,281,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of NKE. Pacer Advisors Inc. raised its position in NIKE by 6,029.6% in the 4th quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock valued at $516,166,000 after purchasing an additional 6,709,985 shares during the last quarter. Loomis Sayles & Co. L P raised its position in NIKE by 1,209,638.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock valued at $575,342,000 after purchasing an additional 6,507,856 shares during the last quarter. Bank of New York Mellon Corp raised its position in 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 valued at $1,541,246,000 after purchasing an additional 3,121,929 shares during the last quarter. Assenagon Asset Management S.A. raised its position in NIKE by 358.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock valued at $228,165,000 after purchasing an additional 2,357,745 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in NIKE in the 4th quarter valued at $156,438,000. Institutional investors own 64.25% of the company’s stock.

Insider Activity

In related news, Director John W. Rogers, Jr. bought 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The shares were acquired at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the acquisition, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their position. The transaction 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 company’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 sale, the chairman now owns 896,632 shares in the company, valued at $65,301,708.56. The trade was a 15.92 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. BMO Capital Markets boosted their target price on NIKE from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. TD Cowen dropped their target price on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research report on Monday, November 18th. Stifel Nicolaus dropped their target price on NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research report on Friday, December 20th. Wells Fargo & Company dropped their target price on NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a research report on Monday, December 16th. Finally, UBS Group restated a “neutral” rating and set a $73.00 target price on shares of NIKE in a research report on Thursday, December 26th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.77.

NIKE Stock Performance

Shares of NIKE stock opened at $77.76 on Thursday. The firm has a market cap of $115.01 billion, a price-to-earnings ratio of 24.00, a price-to-earnings-growth ratio of 2.52 and a beta of 1.01. The stock’s 50-day moving average is $74.70 and its 200-day moving average is $78.25. NIKE, Inc. has a one year low of $68.62 and a one year high of $102.49. 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 issued its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The company had revenue of $12.35 billion for 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 company’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.03 earnings per share. Equities analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

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

About NIKE

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.