NIKE, Inc. (NYSE:NKE) Shares Sold by Columbia Asset Management

Columbia Asset Management lessened its stake in shares of NIKE, Inc. (NYSE:NKE) by 0.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 83,354 shares of the footwear maker’s stock after selling 177 shares during the quarter. NIKE makes up 1.2% of Columbia Asset Management’s investment portfolio, making the stock its 20th biggest position. Columbia Asset Management’s holdings in NIKE were worth $6,307,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Heck Capital Advisors LLC purchased a new position in shares of NIKE during the 4th quarter worth approximately $28,000. Caitlin John LLC boosted its position in shares of NIKE by 117.0% during the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after buying an additional 200 shares during the period. Roxbury Financial LLC acquired a new stake in shares of NIKE in the fourth quarter valued at $30,000. LFA Lugano Financial Advisors SA grew its stake in shares of NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock valued at $30,000 after buying an additional 210 shares in the last quarter. Finally, Hopwood Financial Services Inc. acquired a new position in NIKE during the 4th quarter worth about $30,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Up 2.0 %

NKE opened at $64.78 on Wednesday. NIKE, Inc. has a one year low of $62.65 and a one year high of $98.04. 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 $95.81 billion, a P/E ratio of 19.99, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. The business’s 50-day simple moving average is $73.84 and its 200-day simple moving average is $76.72.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.28 by $0.26. The company had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm’s revenue was down 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 earnings per share. Analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend was Monday, March 3rd. NIKE’s dividend payout ratio is currently 53.16%.

Analyst Ratings Changes

NKE has been the topic of a number of recent research reports. Evercore ISI cut their price target on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Bank of America reduced their target price on shares of NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Wells Fargo & Company decreased their price target on shares of NIKE from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Friday, March 21st. Royal Bank of Canada cut their price objective on NIKE from $67.00 to $66.00 and set a “sector perform” rating on the stock in a research report on Friday, March 21st. Finally, Jefferies Financial Group upgraded NIKE from a “hold” rating to a “buy” rating and lifted their target price for the company from $75.00 to $115.00 in a report on Monday, February 24th. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $87.38.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the sale, the chairman now owns 896,632 shares in the company, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is currently owned by insiders.

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.