Estabrook Capital Management Lowers Holdings in NIKE, Inc. (NYSE:NKE)

Estabrook Capital Management reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 1.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,470 shares of the footwear maker’s stock after selling 261 shares during the quarter. Estabrook Capital Management’s holdings in NIKE were worth $1,776,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Norges Bank bought a new position in NIKE in the fourth quarter worth approximately $1,126,288,000. Wellington Management Group LLP boosted its position in NIKE by 32.4% during the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock valued at $2,749,903,000 after purchasing an additional 8,898,591 shares in the last quarter. Pacer Advisors Inc. grew its stake in NIKE by 6,029.6% in the fourth quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock valued at $516,166,000 after purchasing an additional 6,709,985 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in NIKE by 18.1% in the fourth 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 purchasing an additional 3,121,929 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of NIKE by 1,302.7% during the fourth quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker’s stock valued at $196,901,000 after buying an additional 2,416,601 shares during the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NKE has been the topic of a number of research analyst reports. Stifel Nicolaus restated a “hold” rating and set a $75.00 price target on shares of NIKE in a research note on Friday, April 4th. Robert W. Baird cut their price target on shares of NIKE from $105.00 to $99.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. Evercore ISI cut their target price on NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. JPMorgan Chase & Co. cut their price objective on NIKE from $73.00 to $64.00 and set a “neutral” rating on the stock in a report on Friday, March 21st. Finally, DA Davidson upgraded shares of NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $87.38.

NIKE Price Performance

NIKE stock opened at $52.95 on Wednesday. NIKE, Inc. has a 1 year low of $52.16 and a 1 year high of $98.04. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The firm has a 50 day moving average price of $71.65 and a 200 day moving average price of $75.69. The company has a market cap of $78.31 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 2.52 and a beta of 1.15.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. During the same period in the prior year, the firm posted $0.98 EPS. The business’s revenue for the quarter was down 9.1% on a year-over-year basis. Sell-side analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date was Monday, March 3rd. NIKE’s payout ratio is currently 53.16%.

Insider Buying and Selling

In other NIKE news, Director Robert Holmes Swan acquired 8,600 shares of the firm’s stock in a transaction on Friday, April 4th. The stock was bought at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the purchase, the director now directly owns 31,983 shares in the company, valued at $1,869,726.18. This represents a 36.78 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction on 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 transaction, the chairman now owns 896,632 shares in the company, valued at $65,301,708.56. The trade was a 15.92 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

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.