Legacy Wealth Asset Management LLC Decreases Position in NIKE, Inc. (NYSE:NKE)

Legacy Wealth Asset Management LLC reduced its stake in NIKE, Inc. (NYSE:NKE) by 17.0% during the 4th quarter, Holdings Channel reports. The fund owned 3,665 shares of the footwear maker’s stock after selling 753 shares during the period. Legacy Wealth Asset Management LLC’s holdings in NIKE were worth $277,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Loomis Sayles & Co. L P grew its holdings in shares of NIKE by 1,209,638.7% during the third 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 last quarter. Assenagon Asset Management S.A. raised its position in NIKE by 358.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock worth $228,165,000 after acquiring an additional 2,357,745 shares in the last quarter. State Street Corp lifted its holdings in NIKE by 3.3% in the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after acquiring an additional 1,862,021 shares during the last quarter. Holocene Advisors LP acquired a new position in shares of NIKE in the 3rd quarter worth approximately $148,635,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of NIKE in the 3rd quarter worth approximately $144,927,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NIKE

In other news, Director John W. Rogers, Jr. bought 2,500 shares of the firm’s stock in a transaction on Friday, December 27th. The stock was acquired at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.10% of the company’s stock.

NIKE Stock Down 0.3 %

NKE opened at $70.89 on Friday. 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 company has a fifty day moving average price of $75.77 and a 200-day moving average price of $77.92. The firm has a market capitalization of $104.85 billion, a P/E ratio of 21.88, a price-to-earnings-growth ratio of 2.26 and a beta of 1.02. NIKE, Inc. has a one year low of $70.32 and a one year high of $107.43.

NIKE (NYSE:NKE) last issued its 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. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter last year, the company earned $1.03 EPS. The firm’s revenue was down 7.7% compared to the same quarter last year. Equities research analysts expect that NIKE, Inc. will post 2.1 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a dividend of $0.40 per share. 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 dividend yield of 2.26%. NIKE’s payout ratio is currently 49.38%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Wells Fargo & Company dropped their price target on 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 target on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. JPMorgan Chase & Co. lowered their price objective on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research report on Monday, December 2nd. Bank of America reduced their price objective on NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Finally, Royal Bank of Canada cut their price target 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. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.96.

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.