Saybrook Capital NC Sells 12,110 Shares of NIKE, Inc. (NYSE:NKE)

Saybrook Capital NC cut its holdings in NIKE, Inc. (NYSE:NKE) by 6.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 174,310 shares of the footwear maker’s stock after selling 12,110 shares during the quarter. NIKE accounts for 5.3% of Saybrook Capital NC’s investment portfolio, making the stock its 6th biggest holding. Saybrook Capital NC’s holdings in NIKE were worth $18,925,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the business. Morgan Stanley increased its holdings in shares of NIKE by 26.4% during the fourth quarter. Morgan Stanley now owns 30,720,119 shares of the footwear maker’s stock valued at $3,594,561,000 after acquiring an additional 6,410,744 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of NIKE by 7.2% during the 2nd quarter. Alliancebernstein L.P. now owns 22,371,886 shares of the footwear maker’s stock valued at $2,469,185,000 after purchasing an additional 1,493,704 shares during the last quarter. FMR LLC increased its position in shares of NIKE by 0.7% during the 3rd quarter. FMR LLC now owns 18,502,409 shares of the footwear maker’s stock valued at $1,769,200,000 after purchasing an additional 125,746 shares during the last quarter. Moneta Group Investment Advisors LLC increased its position in shares of NIKE by 139,649.9% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 16,813,307 shares of the footwear maker’s stock valued at $1,967,325,000 after purchasing an additional 16,801,276 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of NIKE by 4.5% during the 3rd quarter. Northern Trust Corp now owns 15,557,676 shares of the footwear maker’s stock valued at $1,487,625,000 after purchasing an additional 674,198 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Wedbush reaffirmed an “outperform” rating and set a $115.00 target price on shares of NIKE in a research report on Wednesday, March 27th. Barclays cut their price target on NIKE from $142.00 to $114.00 and set an “overweight” rating for the company in a research note on Monday, March 25th. JPMorgan Chase & Co. cut their price target on NIKE from $139.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, December 22nd. BMO Capital Markets increased their price target on NIKE from $110.00 to $118.00 and gave the stock an “outperform” rating in a research note on Friday, December 22nd. Finally, TheStreet downgraded NIKE from a “b” rating to a “c+” rating in a research note on Tuesday, January 9th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE has an average rating of “Moderate Buy” and a consensus target price of $116.26.

NIKE Trading Up 0.2 %

NIKE stock traded up $0.19 during trading hours on Tuesday, reaching $93.29. The company had a trading volume of 2,505,849 shares, compared to its average volume of 9,461,733. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. The company has a 50-day moving average price of $98.83 and a 200 day moving average price of $103.49. The firm has a market cap of $140.81 billion, a price-to-earnings ratio of 27.34, a P/E/G ratio of 1.79 and a beta of 1.09. NIKE, Inc. has a 12-month low of $88.66 and a 12-month high of $128.68.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.29. The firm had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. Equities analysts forecast that NIKE, Inc. will post 3.7 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were given a $0.37 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.59%. NIKE’s dividend payout ratio is currently 43.53%.

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.