Greenwood Capital Associates LLC Decreases Stake in NIKE, Inc. (NYSE:NKE)

Greenwood Capital Associates LLC lessened its stake in NIKE, Inc. (NYSE:NKE) by 26.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,818 shares of the footwear maker’s stock after selling 4,596 shares during the quarter. Greenwood Capital Associates LLC’s holdings in NIKE were worth $970,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. State Street Corp increased its holdings in NIKE by 3.3% in the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after buying an additional 1,862,021 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of NIKE by 5.1% in the 3rd quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock worth $2,425,886,000 after acquiring an additional 1,343,093 shares during the period. Geode Capital Management LLC grew its holdings in shares of NIKE by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock worth $2,204,451,000 after acquiring an additional 251,411 shares during the period. Fisher Asset Management LLC increased its stake in NIKE by 6.0% in the 3rd quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock valued at $910,801,000 after purchasing an additional 583,207 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in NIKE by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,602,534 shares of the footwear maker’s stock worth $760,716,000 after purchasing an additional 117,187 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on NKE. Needham & Company LLC reissued a “buy” rating and issued a $84.00 target price on shares of NIKE in a report on Friday, December 20th. Telsey Advisory Group cut shares of NIKE from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $93.00 to $80.00 in a research note on Friday, December 20th. Evercore ISI dropped their target price on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a report on Monday, December 16th. UBS Group reaffirmed a “neutral” rating and issued a $73.00 price target on shares of NIKE in a report on Thursday, December 26th. Finally, Robert W. Baird dropped their price objective on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, December 23rd. Fourteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and an average price target of $89.77.

Insiders Place Their Bets

In related news, Director John W. Rogers, Jr. bought 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The shares were acquired 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. This represents a 7.84 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by insiders.

NIKE Stock Up 0.3 %

Shares of NYSE:NKE opened at $76.79 on Wednesday. NIKE, Inc. has a 1 year low of $70.32 and a 1 year high of $107.43. The stock has a 50-day simple moving average of $75.54 and a 200-day simple moving average of $78.09. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The stock has a market capitalization of $113.57 billion, a P/E ratio of 23.70, a PEG ratio of 2.50 and a beta of 1.01.

NIKE (NYSE:NKE) last released its quarterly earnings data 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 quarter in the prior year, the business earned $1.03 earnings per share. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. Equities analysts forecast that NIKE, Inc. will post 2.05 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. Shareholders of record on Monday, December 2nd were given a $0.40 dividend. The ex-dividend date was Monday, December 2nd. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.08%. NIKE’s dividend payout ratio (DPR) is 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.