Callahan Advisors LLC Has $3.88 Million Stake in NIKE, Inc. (NYSE:NKE)

Callahan Advisors LLC reduced its position in NIKE, Inc. (NYSE:NKE) by 23.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 51,245 shares of the footwear maker’s stock after selling 15,498 shares during the period. Callahan Advisors LLC’s holdings in NIKE were worth $3,878,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Mcdonald Partners LLC increased its stake in shares of NIKE by 3.1% in the 4th quarter. Mcdonald Partners LLC now owns 13,061 shares of the footwear maker’s stock valued at $988,000 after buying an additional 395 shares during the period. Ramsay Stattman Vela & Price Inc. increased its stake in shares of NIKE by 0.5% in the 4th quarter. Ramsay Stattman Vela & Price Inc. now owns 77,221 shares of the footwear maker’s stock valued at $5,843,000 after buying an additional 364 shares during the period. HighMark Wealth Management LLC increased its stake in shares of NIKE by 252.4% in the 4th quarter. HighMark Wealth Management LLC now owns 740 shares of the footwear maker’s stock valued at $56,000 after buying an additional 530 shares during the period. Venturi Wealth Management LLC increased its stake in shares of NIKE by 355.6% in the 4th quarter. Venturi Wealth Management LLC now owns 7,263 shares of the footwear maker’s stock valued at $550,000 after buying an additional 5,669 shares during the period. Finally, Citizens & Northern Corp increased its stake in shares of NIKE by 9.8% in the 4th quarter. Citizens & Northern Corp now owns 17,606 shares of the footwear maker’s stock valued at $1,332,000 after buying an additional 1,572 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director John W. Rogers, Jr. bought 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The shares were acquired at an average price of $76.65 per share, for a total transaction 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. The trade was a 7.84 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on NKE. Barclays lowered their target price on NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $84.00 price objective on shares of NIKE in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft decreased their price objective on NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, December 16th. UBS Group reaffirmed a “neutral” rating and set a $73.00 price objective on shares of NIKE in a research note on Thursday, December 26th. Finally, Citigroup cut NIKE from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $102.00 to $72.00 in a research note on Friday, February 7th. Fifteen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $88.62.

NIKE Stock Performance

Shares of NIKE stock opened at $73.02 on Tuesday. The firm has a market cap of $108.00 billion, a price-to-earnings ratio of 22.54, a price-to-earnings-growth ratio of 2.34 and a beta of 1.01. The stock’s 50-day moving average is $74.37 and its 200-day moving average is $78.04. NIKE, Inc. has a one year low of $68.62 and a one year high of $107.34. 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 (NYSE:NKE) last issued its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The company had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.03 earnings per share. Equities analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a dividend of $0.40 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.19%. NIKE’s payout ratio is presently 49.38%.

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.