GPM Growth Investors Inc. Has $1.40 Million Holdings in NIKE, Inc. (NYSE:NKE)

GPM Growth Investors Inc. trimmed its holdings in shares of NIKE, Inc. (NYSE:NKE) by 15.8% in the fourth quarter, HoldingsChannel reports. The firm owned 18,534 shares of the footwear maker’s stock after selling 3,488 shares during the period. GPM Growth Investors Inc.’s holdings in NIKE were worth $1,402,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Heck Capital Advisors LLC bought a new position in NIKE during the fourth quarter worth about $28,000. Caitlin John LLC grew its holdings in NIKE by 117.0% during the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 200 shares during the period. Teachers Insurance & Annuity Association of America bought a new stake in shares of NIKE during the third quarter worth approximately $30,000. Roxbury Financial LLC bought a new stake in shares of NIKE in the fourth quarter valued at approximately $30,000. Finally, BankPlus Trust Department acquired a new position in NIKE during the fourth quarter valued at approximately $34,000. 64.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. BMO Capital Markets upped their price target on shares of NIKE from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Barclays cut their price objective on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Wells Fargo & Company decreased their price objective on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a research note on Monday, December 16th. JPMorgan Chase & Co. decreased their price target on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research note on Monday, December 2nd. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $80.00 price target on shares of NIKE in a report on Wednesday, February 19th. Fourteen 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 company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $89.77.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the transaction, the chairman now owns 896,632 shares in the company, valued at $65,301,708.56. This represents a 15.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John W. Rogers, Jr. acquired 2,500 shares of the business’s stock in a transaction on Friday, December 27th. The stock was acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the acquisition, the director now owns 34,403 shares in the company, valued at $2,636,989.95. The trade was a 7.84 % increase in their position. The disclosure for this purchase can be found here. 1.10% of the stock is owned by corporate insiders.

NIKE Trading Up 0.6 %

Shares of NKE opened at $77.76 on Thursday. NIKE, Inc. has a 1-year low of $68.62 and a 1-year high of $102.49. The company has a 50-day moving average of $74.70 and a 200 day moving average of $78.25. The firm has a market capitalization of $115.01 billion, a price-to-earnings ratio of 24.00, a PEG ratio of 2.52 and a beta of 1.01. 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 posted its quarterly earnings results 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 business had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.03 EPS. On average, research analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

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