NIKE, Inc. (NYSE:NKE) Holdings Trimmed by Xponance Inc.

Xponance Inc. lowered its position in shares of NIKE, Inc. (NYSE:NKE) by 1.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 236,655 shares of the footwear maker’s stock after selling 3,579 shares during the quarter. Xponance Inc.’s holdings in NIKE were worth $17,908,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of NKE. Pacer Advisors Inc. lifted its stake in NIKE by 6,029.6% in the 4th quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock worth $516,166,000 after acquiring an additional 6,709,985 shares in the last quarter. Loomis Sayles & Co. L P lifted its stake in NIKE by 1,209,638.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock worth $575,342,000 after acquiring an additional 6,507,856 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in NIKE by 18.1% in the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock worth $1,541,246,000 after acquiring an additional 3,121,929 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in NIKE by 358.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock worth $228,165,000 after acquiring an additional 2,357,745 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in NIKE in the 4th quarter worth about $156,438,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Up 3.0 %

Shares of NIKE stock opened at $73.78 on Tuesday. NIKE, Inc. has a 1 year low of $68.62 and a 1 year high of $101.92. The business has a 50-day moving average of $74.71 and a two-hundred day moving average of $77.71. The company has a market capitalization of $109.13 billion, a P/E ratio of 22.77, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. 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 announced its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (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 company had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same period in the prior year, the company earned $1.03 earnings per share. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. As a group, equities analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.40 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.17%. NIKE’s dividend payout ratio is currently 49.38%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Wells Fargo & Company reduced their price objective on NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a research note on Monday, December 16th. Dbs Bank raised NIKE from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Evercore ISI cut their price target on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. JPMorgan Chase & Co. cut their price target on NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research note on Monday, December 2nd. Finally, Needham & Company LLC cut their price target on NIKE from $84.00 to $80.00 and set a “buy” rating for the company in a research note on Monday. Fourteen research 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 stock. Based on data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and an average price target of $89.54.

Insider Transactions at NIKE

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of NIKE stock in a transaction dated Friday, December 27th. The stock was bought at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the transaction, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction that occurred 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 transaction, the chairman now directly owns 896,632 shares of the company’s stock, valued at $65,301,708.56. This trade represents 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 insiders.

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.