GM Advisory Group LLC Trims Stake in NIKE, Inc. (NYSE:NKE)

GM Advisory Group LLC reduced its position in NIKE, Inc. (NYSE:NKE) by 17.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,973 shares of the footwear maker’s stock after selling 2,050 shares during the quarter. GM Advisory Group LLC’s holdings in NIKE were worth $755,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Range Financial Group LLC purchased a new stake in NIKE in the 4th quarter worth about $642,000. Cacti Asset Management LLC bought a new position in NIKE in the 4th quarter worth about $9,987,000. Capricorn Fund Managers Ltd bought a new position in NIKE in the 4th quarter worth about $5,384,000. Klein Pavlis & Peasley Financial Inc. grew its stake in NIKE by 31.1% in the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock worth $1,955,000 after acquiring an additional 6,124 shares in the last quarter. Finally, FNY Investment Advisers LLC grew its stake in NIKE by 5,745.9% in the 4th quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock worth $654,000 after acquiring an additional 8,504 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on NKE. Stifel Nicolaus dropped their target price on shares of NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research note on Friday, December 20th. UBS Group restated a “neutral” rating and issued a $73.00 target price on shares of NIKE in a research note on Thursday, December 26th. Evercore ISI dropped their target price on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. DA Davidson upgraded shares of NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $80.00 price objective on shares of NIKE in a research note on Monday. Fourteen 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 stock. According to data from MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and a consensus target price of $89.54.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of the business’s 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 completion of the transaction, the chairman now directly owns 896,632 shares in the company, 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 SEC, which is available at this hyperlink. Also, Director John W. Rogers, Jr. bought 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The shares were acquired at an average price 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 $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by insiders.

NIKE Trading Down 0.6 %

NYSE NKE opened at $73.28 on Wednesday. The company has a fifty day simple moving average of $74.73 and a two-hundred day simple moving average of $77.64. The stock has a market cap of $108.38 billion, a P/E ratio of 22.62, a P/E/G ratio of 2.52 and a beta of 1.02. 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 quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (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 analysts’ expectations of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter last year, the company posted $1.03 earnings per share. On average, analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.18%. NIKE’s dividend payout ratio is presently 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.