NIKE, Inc. (NYSE:NKE) Shares Sold by Pathstone Holdings LLC

Pathstone Holdings LLC lowered its stake in shares of NIKE, Inc. (NYSE:NKE) by 10.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 184,755 shares of the footwear maker’s stock after selling 20,835 shares during the quarter. Pathstone Holdings LLC’s holdings in NIKE were worth $13,999,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Caitlin John LLC boosted its holdings in NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 200 shares during the period. Heck Capital Advisors LLC acquired a new position in NIKE in the fourth quarter worth $28,000. Roxbury Financial LLC acquired a new position in NIKE in the fourth quarter worth $30,000. LFA Lugano Financial Advisors SA boosted its holdings in NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after purchasing an additional 210 shares during the period. Finally, Hopwood Financial Services Inc. acquired a new position in NIKE in the fourth quarter worth $30,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Activity at NIKE

In other news, Director Robert Holmes Swan purchased 8,600 shares of the stock in a transaction that occurred on Friday, April 4th. The stock was acquired at an average price of $58.46 per share, with a total value of $502,756.00. Following the purchase, the director now owns 31,983 shares in the company, valued at $1,869,726.18. This represents a 36.78% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is currently owned by company insiders.

NIKE Trading Up 1.1%

NYSE:NKE opened at $62.40 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $98.04. The stock’s 50-day moving average is $61.29 and its two-hundred day moving average is $70.85. The stock has a market cap of $92.30 billion, a PE ratio of 19.26, a price-to-earnings-growth ratio of 2.52 and a beta of 1.23.

NIKE (NYSE:NKE) last released its 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. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $11.27 billion for the quarter, compared to analysts’ expectations of $11.02 billion. During the same quarter in the previous year, the business posted $0.98 EPS. The business’s revenue for the quarter was down 9.1% on a year-over-year basis. As a group, equities research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be paid a $0.40 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.56%. NIKE’s payout ratio is 53.16%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Williams Trading decreased their price objective on shares of NIKE from $93.00 to $73.00 and set a “buy” rating for the company in a report on Monday, April 21st. Guggenheim reissued a “buy” rating and set a $110.00 price target on shares of NIKE in a report on Wednesday, February 12th. Robert W. Baird reduced their price target on shares of NIKE from $105.00 to $99.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Stifel Nicolaus reduced their price target on shares of NIKE from $75.00 to $64.00 and set a “hold” rating for the company in a report on Thursday, April 10th. Finally, Jefferies Financial Group raised shares of NIKE from a “hold” rating to a “buy” rating and boosted their price target for the company from $75.00 to $115.00 in a report on Monday, February 24th. Seventeen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $80.30.

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.