Edge Capital Group LLC Sells 935 Shares of NIKE, Inc. (NYSE:NKE)

Edge Capital Group LLC decreased its stake in shares of NIKE, Inc. (NYSE:NKE) by 9.4% during the fourth quarter, HoldingsChannel reports. The firm owned 9,003 shares of the footwear maker’s stock after selling 935 shares during the quarter. Edge Capital Group LLC’s holdings in NIKE were worth $681,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Range Financial Group LLC bought a new stake in NIKE during the 4th quarter valued at approximately $642,000. Cacti Asset Management LLC bought a new stake in shares of NIKE during the fourth quarter valued at approximately $9,987,000. Capricorn Fund Managers Ltd purchased a new stake in NIKE in the fourth quarter worth $5,384,000. Klein Pavlis & Peasley Financial Inc. raised its holdings in NIKE by 31.1% in the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock worth $1,955,000 after purchasing an additional 6,124 shares in the last quarter. Finally, FNY Investment Advisers LLC lifted its position in NIKE by 5,745.9% during the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock valued at $654,000 after buying an additional 8,504 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

NYSE NKE opened at $80.32 on Tuesday. The company has a 50-day moving average price of $74.37 and a 200-day moving average price of $78.21. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $118.80 billion, a P/E ratio of 24.79, a PEG ratio of 2.52 and a beta of 1.01. NIKE, Inc. has a 52 week low of $68.62 and a 52 week high of $106.10.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share 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 the consensus estimate of $12.11 billion. During the same period last year, the firm earned $1.03 earnings per share. The company’s quarterly revenue was down 7.7% on a year-over-year basis. Equities research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s dividend payout ratio is presently 49.38%.

Analyst Ratings Changes

A number of analysts have recently weighed in on NKE shares. Robert W. Baird reduced their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. Royal Bank of Canada cut their price objective on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a report on Thursday, November 7th. UBS Group reaffirmed a “neutral” rating and set a $73.00 target price on shares of NIKE in a research note on Thursday, December 26th. Telsey Advisory Group reissued a “market perform” rating and issued a $80.00 price target on shares of NIKE in a research report on Wednesday, February 19th. Finally, TD Cowen reduced their price objective on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research report on Monday, November 18th. Fourteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $89.77.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction that occurred on 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 transaction, the chairman now owns 896,632 shares of the company’s stock, valued at $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John W. Rogers, Jr. acquired 2,500 shares of NIKE stock in a transaction dated Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the purchase, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company’s stock.

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.