Sloy Dahl & Holst LLC Trims Stake in NIKE, Inc. (NYSE:NKE)

Sloy Dahl & Holst LLC reduced its position in NIKE, Inc. (NYSE:NKE) by 6.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 5,374 shares of the footwear maker’s stock after selling 380 shares during the period. Sloy Dahl & Holst LLC’s holdings in NIKE were worth $407,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp increased its position in NIKE by 3.3% in the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after acquiring an additional 1,862,021 shares during the period. Wellington Management Group LLP increased its position in NIKE by 5.1% in the 3rd quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock valued at $2,425,886,000 after acquiring an additional 1,343,093 shares during the period. Geode Capital Management LLC increased its position in NIKE by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock valued at $2,204,451,000 after acquiring an additional 251,411 shares during the period. Fisher Asset Management LLC increased its position in NIKE by 6.0% in the 3rd quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock valued at $910,801,000 after acquiring an additional 583,207 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in NIKE by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,602,534 shares of the footwear maker’s stock valued at $760,716,000 after acquiring an additional 117,187 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of the stock in a transaction that occurred on Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the acquisition, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on NKE shares. Robert W. Baird dropped their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. Deutsche Bank Aktiengesellschaft dropped their target price on NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research report on Monday, December 16th. TD Cowen dropped their target price on NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research report on Monday, November 18th. Wells Fargo & Company dropped their target price on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research report on Monday, December 16th. Finally, Telsey Advisory Group cut NIKE from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $93.00 to $80.00 in a report on Friday, December 20th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $89.77.

NIKE Trading Down 0.4 %

Shares of NIKE stock opened at $76.61 on Tuesday. 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 market cap of $113.32 billion, a PE ratio of 23.65, a P/E/G ratio of 2.50 and a beta of 1.01. The business’s fifty day moving average is $75.60 and its two-hundred day moving average is $78.06. NIKE, Inc. has a fifty-two week low of $70.32 and a fifty-two week high of $107.43.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.15. The business 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 business’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period last year, the company posted $1.03 EPS. Analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a $0.40 dividend. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.09%. The ex-dividend date was Monday, December 2nd. 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.