Cibc World Market Inc. Sells 19,306 Shares of NIKE, Inc. (NYSE:NKE)

Cibc World Market Inc. lowered its position in shares of NIKE, Inc. (NYSE:NKE) by 3.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 567,579 shares of the footwear maker’s stock after selling 19,306 shares during the quarter. Cibc World Market Inc.’s holdings in NIKE were worth $42,949,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. SOL Capital Management CO increased its holdings in NIKE by 5.1% in the fourth quarter. SOL Capital Management CO now owns 6,071 shares of the footwear maker’s stock worth $459,000 after purchasing an additional 295 shares in the last quarter. Crews Bank & Trust acquired a new position in shares of NIKE during the fourth quarter valued at about $623,000. Capital Investment Advisory Services LLC boosted its position in shares of NIKE by 22.6% during the 4th quarter. Capital Investment Advisory Services LLC now owns 5,835 shares of the footwear maker’s stock worth $442,000 after purchasing an additional 1,077 shares in the last quarter. Busey Bank increased its position in NIKE by 0.8% in the 4th quarter. Busey Bank now owns 216,054 shares of the footwear maker’s stock valued at $16,349,000 after buying an additional 1,660 shares in the last quarter. Finally, DMC Group LLC bought a new position in NIKE in the fourth quarter worth approximately $231,000. 64.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on NKE shares. DA Davidson upgraded NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Evercore ISI lowered their target price on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Morgan Stanley decreased their price objective on NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Bank of America decreased their price target on NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. Finally, Wells Fargo & Company lowered their target price on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a report on Monday, December 16th. Fourteen investment 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 company. Based on data from MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.96.

NIKE Price Performance

NKE stock opened at $78.28 on Friday. The firm has a 50 day simple moving average of $75.55 and a two-hundred day simple moving average of $77.95. 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 $115.79 billion, a PE ratio of 24.16, a P/E/G ratio of 2.44 and a beta of 1.02. NIKE, Inc. has a one year low of $70.32 and a one year high of $107.43.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (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 company had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. During the same period in the previous year, the business earned $1.03 earnings per share. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. On average, analysts predict that NIKE, Inc. will post 2.09 EPS for the current fiscal year.

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.04%. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is currently 49.38%.

Insider Buying and Selling

In other NIKE news, 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 bought at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the transaction, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by corporate insiders.

About NIKE

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.