NIKE, Inc. (NYSE:NKE) Stake Cut by Norden Group LLC

Norden Group LLC cut its holdings in NIKE, Inc. (NYSE:NKE) by 15.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 16,335 shares of the footwear maker’s stock after selling 3,073 shares during the period. Norden Group LLC’s holdings in NIKE were worth $1,773,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of NKE. Brookstone Capital Management raised its holdings in shares of NIKE by 257.8% during the third quarter. Brookstone Capital Management now owns 52,666 shares of the footwear maker’s stock valued at $5,427,000 after buying an additional 37,946 shares during the last quarter. RMR Wealth Builders boosted its position in NIKE by 139.4% during the 3rd quarter. RMR Wealth Builders now owns 8,420 shares of the footwear maker’s stock worth $805,000 after acquiring an additional 4,903 shares during the period. Suncoast Equity Management grew its stake in shares of NIKE by 2.6% in the third quarter. Suncoast Equity Management now owns 165,020 shares of the footwear maker’s stock worth $15,779,000 after purchasing an additional 4,233 shares in the last quarter. Accurate Wealth Management LLC increased its holdings in shares of NIKE by 2.9% during the third quarter. Accurate Wealth Management LLC now owns 5,476 shares of the footwear maker’s stock valued at $563,000 after purchasing an additional 153 shares during the period. Finally, Vicus Capital bought a new position in NIKE in the 3rd quarter valued at about $403,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

NKE has been the subject of a number of research analyst reports. Robert W. Baird reduced their price target on shares of NIKE from $140.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Williams Trading reaffirmed a “sell” rating and set a $85.00 price target (down from $92.00) on shares of NIKE in a research note on Monday, March 18th. TheStreet downgraded NIKE from a “b” rating to a “c+” rating in a research note on Tuesday, January 9th. Stifel Nicolaus decreased their target price on NIKE from $129.00 to $117.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Finally, HSBC dropped their price target on shares of NIKE from $120.00 to $115.00 and set a “hold” rating on the stock in a research report on Monday, January 22nd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $116.26.

NIKE Stock Down 1.3 %

NKE traded down $1.18 on Tuesday, reaching $92.88. 2,756,032 shares of the company traded hands, compared to its average volume of 9,294,005. The company has a market cap of $140.19 billion, a price-to-earnings ratio of 27.42, a PEG ratio of 1.82 and a beta of 1.09. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. The stock’s 50 day moving average price is $96.78 and its 200-day moving average price is $103.33. NIKE, Inc. has a 52-week low of $88.66 and a 52-week high of $128.68.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The company had revenue of $12.43 billion during the quarter, compared to analyst estimates of $12.28 billion. On average, sell-side analysts expect that NIKE, Inc. will post 3.73 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were paid a $0.37 dividend. The ex-dividend date was Friday, March 1st. This represents a $1.48 dividend on an annualized basis and a yield of 1.59%. NIKE’s dividend payout ratio (DPR) is currently 43.53%.

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.