Norris Perne & French LLP MI Cuts Stock Position in NIKE, Inc. (NYSE:NKE)

Norris Perne & French LLP MI cut its holdings in NIKE, Inc. (NYSE:NKE) by 4.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 102,296 shares of the footwear maker’s stock after selling 4,239 shares during the quarter. Norris Perne & French LLP MI’s holdings in NIKE were worth $7,741,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of NKE. Sunbelt Securities Inc. boosted its holdings in NIKE by 5.9% during the second quarter. Sunbelt Securities Inc. now owns 3,615 shares of the footwear maker’s stock worth $272,000 after buying an additional 203 shares in the last quarter. Cetera Investment Advisers raised its holdings in NIKE by 6.8% in the 2nd quarter. Cetera Investment Advisers now owns 230,215 shares of the footwear maker’s stock valued at $17,351,000 after acquiring an additional 14,584 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in NIKE during the second quarter worth $117,000. Brown Financial Advisors purchased a new position in NIKE during the second quarter worth about $545,000. Finally, Sanctuary Advisors LLC purchased a new position in NIKE in the second quarter worth approximately $11,390,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other 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 acquired at an average cost of $76.65 per share, with a total value of $191,625.00. Following the acquisition, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.10% of the stock is owned by company insiders.

NIKE Trading Up 2.2 %

NYSE:NKE opened at $78.28 on Friday. The company has a fifty day moving average of $75.55 and a 200 day moving average of $77.95. NIKE, Inc. has a 52 week low of $70.32 and a 52 week high of $107.43. The firm has a market capitalization of $115.79 billion, a P/E ratio of 24.16, a P/E/G ratio of 2.44 and a beta of 1.02. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last posted 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 business had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. During the same quarter in the previous year, the firm posted $1.03 earnings per share. NIKE’s quarterly revenue was down 7.7% on a year-over-year basis. On average, research analysts predict that NIKE, Inc. will post 2.09 earnings per share for the current year.

NIKE Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on NKE shares. Evercore ISI lowered their price objective on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. JPMorgan Chase & Co. dropped their price objective on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research note on Monday, December 2nd. Stifel Nicolaus dropped their price objective on NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a report on Friday, December 20th. Royal Bank of Canada reduced their price objective on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 7th. Finally, DA Davidson upgraded shares of NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and an average price target of $89.96.

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.