Koshinski Asset Management Inc. Trims Stock Position in NIKE, Inc. (NYSE:NKE)

Koshinski Asset Management Inc. lessened its holdings in shares of NIKE, Inc. (NYSE:NKE) by 4.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,683 shares of the footwear maker’s stock after selling 345 shares during the period. Koshinski Asset Management Inc.’s holdings in NIKE were worth $506,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in NKE. Public Sector Pension Investment Board increased its holdings in NIKE by 71.5% in the second quarter. Public Sector Pension Investment Board now owns 46,500 shares of the footwear maker’s stock valued at $3,505,000 after buying an additional 19,390 shares in the last quarter. NBW Capital LLC increased its holdings in NIKE by 33.8% in the second quarter. NBW Capital LLC now owns 63,614 shares of the footwear maker’s stock valued at $4,795,000 after buying an additional 16,075 shares in the last quarter. EDENTREE ASSET MANAGEMENT Ltd increased its holdings in NIKE by 7.6% in the second quarter. EDENTREE ASSET MANAGEMENT Ltd now owns 132,074 shares of the footwear maker’s stock valued at $9,953,000 after buying an additional 9,350 shares in the last quarter. DoubleLine ETF Adviser LP purchased a new position in NIKE in the second quarter valued at $2,454,000. Finally, Delta Investment Management LLC grew its position in shares of NIKE by 179.5% in the second quarter. Delta Investment Management LLC now owns 8,233 shares of the footwear maker’s stock valued at $621,000 after purchasing an additional 5,287 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NKE. Telsey Advisory Group lowered shares of NIKE from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $93.00 to $80.00 in a research report on Friday, December 20th. 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 report on Friday, December 20th. Wells Fargo & Company dropped their target price on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research report on Monday, December 16th. Jefferies Financial Group lifted their target price on shares of NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Monday, September 30th. Finally, Royal Bank of Canada dropped their target price on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 7th. Fourteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and an average price target of $89.96.

Insider Transactions at NIKE

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of the firm’s stock in a transaction dated Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the acquisition, the director now owns 34,403 shares in the company, valued at $2,636,989.95. The trade was a 7.84 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.10% of the company’s stock.

NIKE Stock Performance

NIKE stock opened at $74.07 on Thursday. The firm has a 50 day simple moving average of $75.59 and a 200-day simple moving average of $77.91. NIKE, Inc. has a 1-year low of $70.32 and a 1-year high of $107.43. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The stock has a market cap of $109.56 billion, a price-to-earnings ratio of 22.86, a price-to-earnings-growth ratio of 2.25 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. During the same period in the prior year, the business posted $1.03 EPS. The business’s revenue for the quarter was down 7.7% compared to the same quarter last year. On average, analysts expect that NIKE, Inc. will post 2.1 EPS for the current year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a $0.40 dividend. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend was Monday, December 2nd. NIKE’s dividend payout ratio is currently 49.38%.

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.