Elo Mutual Pension Insurance Co Decreases Position in NIKE, Inc. (NYSE:NKE)

Elo Mutual Pension Insurance Co cut its holdings in NIKE, Inc. (NYSE:NKE) by 5.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 108,652 shares of the footwear maker’s stock after selling 6,485 shares during the period. Elo Mutual Pension Insurance Co’s holdings in NIKE were worth $8,222,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd lifted its position in NIKE by 599.1% in the third quarter. Harvest Fund Management Co. Ltd now owns 797 shares of the footwear maker’s stock valued at $70,000 after purchasing an additional 683 shares during the last quarter. D.A. Davidson & CO. increased its stake in shares of NIKE by 11.8% in the third quarter. D.A. Davidson & CO. now owns 104,951 shares of the footwear maker’s stock worth $9,278,000 after buying an additional 11,108 shares during the period. Cadence Bank raised its holdings in NIKE by 2.8% during the 3rd quarter. Cadence Bank now owns 55,282 shares of the footwear maker’s stock valued at $4,887,000 after buying an additional 1,520 shares during the last quarter. Soros Capital Management LLC boosted its position in NIKE by 3.6% during the 3rd quarter. Soros Capital Management LLC now owns 36,804 shares of the footwear maker’s stock valued at $3,253,000 after buying an additional 1,264 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings in NIKE by 35.6% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 104,300 shares of the footwear maker’s stock worth $9,220,000 after acquiring an additional 27,400 shares during the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. BMO Capital Markets dropped their target price on shares of NIKE from $95.00 to $92.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Barclays dropped their price objective on NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Bank of America decreased their target price on NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. DA Davidson raised NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Finally, Needham & Company LLC reduced their price objective on shares of NIKE from $84.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, March 17th. Fifteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $87.38.

NIKE Stock Down 1.2 %

NYSE:NKE opened at $65.76 on Thursday. 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 market cap of $97.26 billion, a P/E ratio of 20.29, a P/E/G ratio of 2.52 and a beta of 1.02. NIKE, Inc. has a fifty-two week low of $64.95 and a fifty-two week high of $98.04. The firm has a 50-day simple moving average of $74.42 and a two-hundred day simple moving average of $77.13.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.26. The company had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.98 earnings per share. Analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.43%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio is currently 53.16%.

Insider Activity

In other news, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chairman now directly owns 896,632 shares of the company’s stock, valued at $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John W. Rogers, Jr. bought 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The stock was bought at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the acquisition, the director now directly owns 34,403 shares of the company’s stock, valued at $2,636,989.95. The trade was a 7.84 % increase in their position. The disclosure for this purchase 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.