NIKE, Inc. (NYSE:NKE) Shares Sold by Mitchell Sinkler & Starr PA

Mitchell Sinkler & Starr PA lessened its position in NIKE, Inc. (NYSE:NKE) by 0.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 34,719 shares of the footwear maker’s stock after selling 164 shares during the period. Mitchell Sinkler & Starr PA’s holdings in NIKE were worth $2,627,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in NKE. State Street Corp increased its position in NIKE by 3.3% during the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock worth $5,140,796,000 after purchasing an additional 1,862,021 shares during the period. Wellington Management Group LLP grew its holdings in NIKE by 5.1% during the third quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock worth $2,425,886,000 after acquiring an additional 1,343,093 shares during the period. Geode Capital Management LLC grew its stake in shares of NIKE by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock worth $2,204,451,000 after purchasing an additional 251,411 shares during the period. Bank of New York Mellon Corp grew its stake in shares of 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 worth $1,541,246,000 after purchasing an additional 3,121,929 shares during the period. Finally, Norges Bank acquired a new stake in shares of NIKE in the fourth quarter valued at about $1,126,288,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the firm’s 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 transaction, the chairman now owns 896,632 shares of the company’s stock, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

NKE has been the subject of a number of research analyst reports. Jefferies Financial Group raised shares of NIKE from a “hold” rating to a “buy” rating and increased their target price for the company from $75.00 to $115.00 in a report on Monday, February 24th. Deutsche Bank Aktiengesellschaft lowered their target price on NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, December 16th. Stifel Nicolaus decreased their price objective on shares of NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research report on Friday, December 20th. Morgan Stanley reduced their price target on shares of NIKE from $72.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, March 21st. Finally, China Renaissance assumed coverage on NIKE in a research report on Wednesday, March 19th. They set a “hold” rating for the company. Fifteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $87.38.

NIKE Trading Down 3.8 %

Shares of NKE opened at $63.32 on Friday. The stock has a 50-day moving average price of $74.16 and a 200 day moving average price of $76.94. NIKE, Inc. has a one year low of $63.14 and a one year high of $98.04. The company has a market capitalization of $93.65 billion, a P/E ratio of 19.54, a P/E/G ratio of 2.52 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. The firm had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm’s revenue was down 9.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.98 EPS. Sell-side analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 2.53%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is presently 53.16%.

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.