NIKE, Inc. (NYSE:NKE) Shares Sold by Breakwater Capital Group

Breakwater Capital Group trimmed its holdings in NIKE, Inc. (NYSE:NKE) by 14.3% during the fourth quarter, HoldingsChannel reports. The firm owned 3,534 shares of the footwear maker’s stock after selling 592 shares during the period. Breakwater Capital Group’s holdings in NIKE were worth $267,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. J.W. Cole Advisors Inc. increased its stake in shares of NIKE by 5.1% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 11,171 shares of the footwear maker’s stock worth $842,000 after acquiring an additional 543 shares during the last quarter. Angeles Investment Advisors LLC purchased a new stake in shares of NIKE in the second quarter valued at about $319,000. Massachusetts Financial Services Co. MA grew its holdings in shares of NIKE by 0.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,025,616 shares of the footwear maker’s stock valued at $454,151,000 after purchasing an additional 52,500 shares during the period. One Capital Management LLC increased its position in NIKE by 103.3% during the second quarter. One Capital Management LLC now owns 11,519 shares of the footwear maker’s stock worth $868,000 after purchasing an additional 5,854 shares during the last quarter. Finally, Citizens Financial Group Inc. RI raised its stake in NIKE by 31.1% during the second quarter. Citizens Financial Group Inc. RI now owns 95,466 shares of the footwear maker’s stock worth $7,205,000 after purchasing an additional 22,620 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of the business’s stock in a transaction on Friday, December 27th. The shares were bought at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.10% of the stock is owned by company insiders.

NIKE Stock Down 1.4 %

Shares of NIKE stock opened at $71.09 on Wednesday. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 52-week low of $70.53 and a 52-week high of $107.43. The company has a market capitalization of $105.15 billion, a P/E ratio of 20.37, a P/E/G ratio of 1.89 and a beta of 1.02. The company has a 50 day moving average of $76.05 and a 200 day moving average of $78.06.

NIKE (NYSE:NKE) last posted its 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 firm had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. NIKE’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.03 earnings per share. As a group, research analysts forecast that NIKE, Inc. will post 2.72 EPS for the current fiscal year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Monday, December 2nd. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio (DPR) is 49.38%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NKE. Morgan Stanley cut their price target on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Royal Bank of Canada reduced their target price on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 7th. Wells Fargo & Company lowered their price target on NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a report on Monday, December 16th. Sanford C. Bernstein reduced their price objective on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a report on Thursday, September 19th. Finally, DA Davidson raised shares of NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Fourteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $89.96.

NIKE Company 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.