Nemes Rush Group LLC Sells 14,001 Shares of NIKE, Inc. (NYSE:NKE)

Nemes Rush Group LLC trimmed its holdings in NIKE, Inc. (NYSE:NKE) by 96.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 484 shares of the footwear maker’s stock after selling 14,001 shares during the quarter. Nemes Rush Group LLC’s holdings in NIKE were worth $37,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Franklin Resources Inc. lifted its holdings in NIKE by 22.8% during the 4th quarter. Franklin Resources Inc. now owns 7,628,256 shares of the footwear maker’s stock worth $577,230,000 after purchasing an additional 1,418,839 shares in the last quarter. B. Metzler seel. Sohn & Co. AG increased its position in shares of NIKE by 1.4% during the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 1,662,284 shares of the footwear maker’s stock valued at $125,414,000 after buying an additional 22,833 shares during the period. Summit Financial LLC lifted its holdings in shares of NIKE by 27.8% in the fourth quarter. Summit Financial LLC now owns 13,361 shares of the footwear maker’s stock worth $1,016,000 after buying an additional 2,908 shares in the last quarter. AIA Group Ltd boosted its position in shares of NIKE by 20.2% in the fourth quarter. AIA Group Ltd now owns 63,800 shares of the footwear maker’s stock valued at $4,828,000 after acquiring an additional 10,723 shares during the period. Finally, Wellington Management Group LLP increased its holdings in NIKE by 32.4% during the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock worth $2,749,903,000 after acquiring an additional 8,898,591 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on NKE. Robert W. Baird cut their price target on shares of NIKE from $105.00 to $99.00 and set an “outperform” rating for the company in a report on Friday, March 21st. DA Davidson upgraded NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Dbs Bank raised NIKE from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Royal Bank of Canada cut their price objective on NIKE from $67.00 to $66.00 and set a “sector perform” rating for the company in a report on Friday, March 21st. Finally, Barclays lowered their target price on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Fifteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and a consensus target price of $87.38.

Insider Buying and Selling

In other news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the transaction, the chairman now owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is owned by insiders.

NIKE Trading Up 0.4 %

NKE opened at $65.04 on Thursday. NIKE, Inc. has a one year low of $59.28 and a one year high of $98.04. 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 business has a 50 day simple moving average of $73.66 and a two-hundred day simple moving average of $76.64. The firm has a market capitalization of $96.20 billion, a price-to-earnings ratio of 20.07, a PEG ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. The company had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm’s revenue was down 9.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.98 earnings per share. Analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend was Monday, March 3rd. NIKE’s dividend payout ratio is currently 53.16%.

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.