Condor Capital Management Cuts Stock Position in NIKE, Inc. (NYSE:NKE)

Condor Capital Management reduced its position in NIKE, Inc. (NYSE:NKE) by 0.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,063 shares of the footwear maker’s stock after selling 141 shares during the quarter. Condor Capital Management’s holdings in NIKE were worth $1,972,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Empowered Funds LLC boosted its holdings in NIKE by 10.7% during the 3rd quarter. Empowered Funds LLC now owns 23,214 shares of the footwear maker’s stock valued at $2,052,000 after acquiring an additional 2,243 shares during the period. Thrivent Financial for Lutherans boosted its holdings in NIKE by 4.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 66,417 shares of the footwear maker’s stock valued at $5,875,000 after acquiring an additional 2,843 shares during the period. Tranquility Partners LLC purchased a new stake in NIKE during the 3rd quarter valued at about $211,000. Prospera Financial Services Inc boosted its holdings in NIKE by 13.5% during the 3rd quarter. Prospera Financial Services Inc now owns 50,991 shares of the footwear maker’s stock valued at $4,508,000 after acquiring an additional 6,066 shares during the period. Finally, West Family Investments Inc. purchased a new stake in NIKE during the 3rd quarter valued at about $342,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NKE has been the subject of several research analyst reports. Needham & Company LLC dropped their price objective on NIKE from $84.00 to $80.00 and set a “buy” rating for the company in a report on Monday. Guggenheim reiterated a “buy” rating and issued a $110.00 price objective on shares of NIKE in a report on Wednesday, February 12th. China Renaissance initiated coverage on NIKE in a report on Wednesday. They issued a “hold” rating for the company. Dbs Bank upgraded NIKE from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Finally, Jefferies Financial Group upgraded NIKE from a “hold” rating to a “buy” rating and increased their price objective for the stock from $75.00 to $115.00 in a report on Monday, February 24th. Fifteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and a consensus target price of $89.54.

Insider Transactions at NIKE

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of the company’s stock in a transaction dated Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the purchase, the director now directly owns 34,403 shares in the company, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the firm’s 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. This trade represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

NIKE Stock Down 0.5 %

NIKE stock opened at $72.92 on Thursday. The firm has a market cap of $107.86 billion, a price-to-earnings ratio of 22.51, a PEG ratio of 2.52 and a beta of 1.02. The stock has a fifty day simple moving average of $74.76 and a two-hundred day simple moving average of $77.60. NIKE, Inc. has a 12 month low of $68.62 and a 12 month high of $101.92. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 36.99% and a net margin of 9.98%. The company’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.03 EPS. Equities analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s payout ratio is 49.38%.

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.