NIKE, Inc. (NYSE:NKE) Stock Position Cut by 44 Wealth Management LLC

44 Wealth Management LLC decreased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 0.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 336,568 shares of the footwear maker’s stock after selling 1,154 shares during the period. NIKE makes up approximately 9.8% of 44 Wealth Management LLC’s investment portfolio, making the stock its largest holding. 44 Wealth Management LLC’s holdings in NIKE were worth $25,468,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. State Street Corp grew its stake in shares of 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 acquiring an additional 1,862,021 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of NIKE by 5.1% during the third 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 lifted its holdings in shares of NIKE by 1.0% during the third 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. Fisher Asset Management LLC lifted its holdings 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 worth $910,801,000 after purchasing an additional 583,207 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of NIKE by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,602,534 shares of the footwear maker’s stock worth $760,716,000 after purchasing an additional 117,187 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

NKE has been the subject of a number of research reports. Wells Fargo & Company decreased their target price on NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a report on Monday, December 16th. Morgan Stanley decreased their target price on NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $80.00 target price on shares of NIKE in a report on Wednesday. Deutsche Bank Aktiengesellschaft decreased their target price on NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a report on Monday, December 16th. Finally, Stifel Nicolaus decreased their target price on NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a report on Friday, December 20th. Fifteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.62.

NIKE Stock Down 0.9 %

Shares of NKE opened at $76.50 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. NIKE, Inc. has a one year low of $68.62 and a one year high of $106.62. The stock has a market capitalization of $113.15 billion, a price-to-earnings ratio of 23.61, a PEG ratio of 2.52 and a beta of 1.01. The stock has a 50 day moving average price of $74.31 and a 200 day moving average price of $78.09.

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

NIKE Dividend Announcement

The business also recently announced 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 2.09%. The ex-dividend date is Monday, March 3rd. NIKE’s payout ratio is currently 49.38%.

Insider Buying and Selling at NIKE

In related news, Director John W. Rogers, Jr. bought 2,500 shares of the company’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 acquisition, 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 filing with the SEC, which is available at 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 sale, the chairman now owns 896,632 shares of the company’s stock, 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. 1.10% of the stock is owned by company insiders.

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.