Archer Investment Corp Sells 4,907 Shares of NIKE, Inc. (NYSE:NKE)

Archer Investment Corp reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 82.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,011 shares of the footwear maker’s stock after selling 4,907 shares during the quarter. Archer Investment Corp’s holdings in NIKE were worth $76,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Live Oak Private Wealth LLC raised its position in shares of NIKE by 2.8% in the fourth quarter. Live Oak Private Wealth LLC now owns 6,196 shares of the footwear maker’s stock valued at $469,000 after purchasing an additional 166 shares during the period. William Allan Corp grew its position in NIKE by 22.2% during the 4th quarter. William Allan Corp now owns 52,163 shares of the footwear maker’s stock worth $3,947,000 after acquiring an additional 9,482 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its holdings in NIKE by 64,229.2% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 651,012 shares of the footwear maker’s stock valued at $49,522,000 after purchasing an additional 650,000 shares during the period. Strategic Financial Concepts LLC bought a new position in NIKE during the 4th quarter worth approximately $4,342,000. Finally, Encompass Wealth Advisors LLC lifted its stake in NIKE by 15.0% in the fourth quarter. Encompass Wealth Advisors LLC now owns 7,871 shares of the footwear maker’s stock valued at $596,000 after buying an additional 1,025 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research report on Monday, December 16th. Citigroup cut shares of NIKE from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $102.00 to $72.00 in a research note on Friday. Wells Fargo & Company reduced their target price on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a report on Monday, December 16th. Evercore ISI decreased their price objective 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. Finally, Bank of America cut their target price on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Fifteen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $88.62.

NIKE Price Performance

NKE opened at $71.75 on Friday. The firm has a market cap of $106.13 billion, a P/E ratio of 22.15, a PEG ratio of 2.50 and a beta of 1.01. The firm has a 50-day moving average of $75.45 and a 200 day moving average of $78.10. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. NIKE, Inc. has a fifty-two week low of $70.32 and a fifty-two week high of $107.43.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. During the same period in the previous year, the business posted $1.03 EPS. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. On average, research analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Increases Dividend

The company 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 boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date was Monday, December 2nd. NIKE’s dividend payout ratio is presently 49.38%.

Insider Transactions at NIKE

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of the business’s stock in a transaction dated Friday, December 27th. The stock was 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 of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.10% of the company’s stock.

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.