NIKE, Inc. (NYSE:NKE) Shares Sold by River Global Investors LLP

River Global Investors LLP cut its holdings in NIKE, Inc. (NYSE:NKE) by 45.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 9,246 shares of the footwear maker’s stock after selling 7,654 shares during the quarter. River Global Investors LLP’s holdings in NIKE were worth $700,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Teachers Insurance & Annuity Association of America purchased a new stake in shares of NIKE during the 3rd quarter worth $30,000. Caitlin John LLC lifted its stake in shares of NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 200 shares during the period. Heck Capital Advisors LLC purchased a new stake in NIKE during the fourth quarter worth about $28,000. Roxbury Financial LLC acquired a new position in NIKE during the fourth quarter worth about $30,000. Finally, BankPlus Trust Department purchased a new position in NIKE in the fourth quarter valued at about $34,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

NKE has been the topic of several research analyst reports. Dbs Bank raised NIKE from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Bank of America decreased their target price on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Guggenheim restated a “buy” rating and issued a $110.00 price target on shares of NIKE in a research report on Wednesday, February 12th. TD Cowen cut their price target on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research note on Monday, November 18th. Finally, BMO Capital Markets increased their price objective on shares of 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 issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $89.77.

Insider Activity

In related news, Director John W. Rogers, Jr. bought 2,500 shares of the firm’s stock in a transaction dated Friday, December 27th. The stock was bought at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the transaction, the director now directly 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the sale, the chairman now owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This trade represents 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 Price Performance

Shares of NIKE stock opened at $78.68 on Friday. The stock has a market capitalization of $116.38 billion, a P/E ratio of 24.28, a PEG ratio of 2.52 and a beta of 1.02. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The business’s fifty day moving average price is $74.76 and its 200 day moving average price is $78.18. NIKE, Inc. has a twelve month low of $68.62 and a twelve month high of $102.49.

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

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s payout ratio is currently 49.38%.

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.