Sequoia Financial Advisors LLC Purchases 1,863 Shares of NIKE, Inc. (NYSE:NKE)

Sequoia Financial Advisors LLC boosted its position in shares of NIKE, Inc. (NYSE:NKE) by 13.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,942 shares of the footwear maker’s stock after buying an additional 1,863 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in NIKE were worth $1,206,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. raised its stake in shares of NIKE by 6,029.6% during the fourth quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock valued at $516,166,000 after acquiring an additional 6,709,985 shares during the last quarter. Loomis Sayles & Co. L P increased its holdings in NIKE by 1,209,638.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock valued at $575,342,000 after purchasing an additional 6,507,856 shares during the period. Bank of New York Mellon Corp raised its position in NIKE by 18.1% during the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock valued at $1,541,246,000 after purchasing an additional 3,121,929 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in NIKE by 358.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock worth $228,165,000 after buying an additional 2,357,745 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of NIKE in the 4th quarter worth approximately $156,438,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on NKE shares. Citigroup downgraded NIKE from a “buy” rating to a “neutral” rating and decreased their target price for the company from $102.00 to $72.00 in a report on Friday, February 7th. Needham & Company LLC restated a “buy” rating and issued a $84.00 price objective on shares of NIKE in a report on Friday, February 7th. Morgan Stanley reduced their price target on shares of NIKE from $74.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Thursday. Wells Fargo & Company cut their price objective on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research report on Monday, December 16th. Finally, BMO Capital Markets raised their target price on NIKE from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Fourteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.69.

Insider Activity

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of the business’s stock in a transaction on Friday, December 27th. The stock was acquired at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the purchase, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the transaction, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

NIKE Trading Down 1.3 %

NIKE stock opened at $71.72 on Friday. NIKE, Inc. has a one year low of $68.62 and a one year high of $101.92. The business’s fifty day moving average is $74.68 and its 200 day moving average is $77.81. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The stock has a market capitalization of $106.08 billion, a PE ratio of 22.14, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02.

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

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.23%. NIKE’s dividend payout ratio is presently 49.38%.

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.