NIKE, Inc. (NYSE:NKE) Shares Sold by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd decreased its holdings in NIKE, Inc. (NYSE:NKE) by 50.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 391 shares of the footwear maker’s stock after selling 406 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in NIKE were worth $30,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NKE. Thrivent Financial for Lutherans increased its holdings in NIKE by 4.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 66,417 shares of the footwear maker’s stock valued at $5,875,000 after purchasing an additional 2,843 shares in the last quarter. LPL Financial LLC grew its stake in shares of NIKE by 19.3% in the third quarter. LPL Financial LLC now owns 1,028,131 shares of the footwear maker’s stock valued at $90,887,000 after buying an additional 166,127 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of NIKE by 3.2% during the 3rd quarter. Pacer Advisors Inc. now owns 111,285 shares of the footwear maker’s stock valued at $9,838,000 after buying an additional 3,464 shares during the period. Eagle Asset Management Inc. lifted its position in NIKE by 36.2% during the 3rd quarter. Eagle Asset Management Inc. now owns 16,698 shares of the footwear maker’s stock worth $1,476,000 after acquiring an additional 4,440 shares in the last quarter. Finally, Meridian Wealth Management LLC purchased a new position in NIKE in the 3rd quarter worth approximately $261,000. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Stock Performance

Shares of NKE opened at $68.02 on Monday. The firm has a fifty day moving average of $74.70 and a 200-day moving average of $77.40. The company has a market cap of $100.60 billion, a price-to-earnings ratio of 20.99, 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 quick ratio of 1.51 and a current ratio of 2.22. NIKE, Inc. has a 1 year low of $65.17 and a 1 year high of $98.04.

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

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors 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 yield of 2.35%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is 53.16%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NKE. Evercore ISI reduced their target price on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. DA Davidson raised shares of NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Robert W. Baird dropped their target price on NIKE from $105.00 to $99.00 and set an “outperform” rating on the stock in a research report on Friday. Barclays reduced their price target on NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Finally, Morgan Stanley dropped their price objective on NIKE from $72.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday. Fifteen investment 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $87.38.

Insider Activity at NIKE

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of NIKE stock in a transaction that occurred on Friday, December 27th. The stock was acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction dated 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 directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their position. 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.