Simmons Bank Sells 3,786 Shares of NIKE, Inc. (NYSE:NKE)

Simmons Bank cut its holdings in NIKE, Inc. (NYSE:NKE) by 52.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 3,379 shares of the footwear maker’s stock after selling 3,786 shares during the period. Simmons Bank’s holdings in NIKE were worth $256,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Avitas Wealth Management LLC boosted its position in shares of NIKE by 10.3% during the third quarter. Avitas Wealth Management LLC now owns 6,218 shares of the footwear maker’s stock valued at $550,000 after buying an additional 580 shares during the last quarter. Great Diamond Partners LLC bought a new stake in shares of NIKE in the third quarter worth approximately $222,000. First Trust Direct Indexing L.P. grew its stake in shares of NIKE by 2.9% in the third quarter. First Trust Direct Indexing L.P. now owns 32,965 shares of the footwear maker’s stock worth $2,914,000 after acquiring an additional 937 shares during the period. Pinnacle Associates Ltd. grew its stake in shares of NIKE by 10.5% in the third quarter. Pinnacle Associates Ltd. now owns 26,403 shares of the footwear maker’s stock worth $2,334,000 after acquiring an additional 2,510 shares during the period. Finally, Diversify Wealth Management LLC grew its stake in shares of NIKE by 5.4% in the third quarter. Diversify Wealth Management LLC now owns 16,046 shares of the footwear maker’s stock worth $1,418,000 after acquiring an additional 829 shares during the period. 64.25% of the stock is owned by institutional investors.

Insider Activity at NIKE

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the business’s stock in a transaction that occurred on 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 acquisition, the director now owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction dated 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 sale, the chairman now owns 896,632 shares in the company, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

NIKE Trading Down 1.6 %

NIKE stock opened at $79.86 on Friday. The stock has a market cap of $118.13 billion, a P/E ratio of 24.65, a PEG ratio of 2.52 and a beta of 1.01. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. NIKE, Inc. has a 1 year low of $68.62 and a 1 year high of $105.57. The firm’s 50 day moving average price is $74.59 and its 200-day moving average price is $78.29.

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

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s payout ratio is presently 49.38%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Jefferies Financial Group raised NIKE from a “hold” rating to a “buy” rating and increased their price target for the company from $75.00 to $115.00 in a report on Monday. Guggenheim reissued a “buy” rating and issued a $110.00 target price on shares of NIKE in a research report on Wednesday, February 12th. DA Davidson upgraded NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Stifel Nicolaus dropped their price objective on shares of NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a report on Friday, December 20th. Finally, UBS Group reaffirmed a “neutral” rating and set a $73.00 target price on shares of NIKE in a report on Thursday, December 26th. Fourteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.77.

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.