Paragon Private Wealth Management LLC Sells 4,527 Shares of NIKE, Inc. (NYSE:NKE)

Paragon Private Wealth Management LLC trimmed its stake in NIKE, Inc. (NYSE:NKE) by 59.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,127 shares of the footwear maker’s stock after selling 4,527 shares during the period. Paragon Private Wealth Management LLC’s holdings in NIKE were worth $237,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in NKE. Heck Capital Advisors LLC bought a new position in shares of NIKE in the 4th quarter valued at approximately $28,000. Caitlin John LLC raised its stake in shares of NIKE by 117.0% in the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 200 shares in the last quarter. Teachers Insurance & Annuity Association of America bought a new position in shares of NIKE in the 3rd quarter valued at approximately $30,000. Roxbury Financial LLC bought a new position in shares of NIKE in the 4th quarter valued at approximately $30,000. Finally, BankPlus Trust Department bought a new position in shares of NIKE in the 4th quarter valued at approximately $34,000. 64.25% of the stock is owned by institutional investors.

NIKE Price Performance

Shares of NKE stock opened at $76.35 on Tuesday. The stock’s fifty day simple moving average is $74.80 and its 200 day simple moving average is $78.09. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The firm has a market cap of $112.92 billion, a price-to-earnings ratio of 23.56, a P/E/G ratio of 2.52 and a beta of 1.02. NIKE, Inc. has a one year low of $68.62 and a one year high of $102.49.

NIKE (NYSE:NKE) last announced 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 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%. NIKE’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.03 EPS. On average, analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.10%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio is 49.38%.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction on 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 completion of the transaction, the chairman now owns 896,632 shares in the company, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 transaction, the director now owns 34,403 shares in the company, valued at approximately $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 insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft cut their price objective on NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research note on Monday, December 16th. Wells Fargo & Company lowered their target price on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a report on Monday, December 16th. Stifel Nicolaus lowered their target price on NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a report on Friday, December 20th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $80.00 target price on shares of NIKE in a report on Wednesday, February 19th. Finally, Dbs Bank raised NIKE from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.77.

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.