NIKE, Inc. $NKE Stock Position Decreased by Everett Harris & Co. CA

Everett Harris & Co. CA trimmed its stake in NIKE, Inc. (NYSE:NKE) by 1.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,045,357 shares of the footwear maker’s stock after selling 14,165 shares during the quarter. NIKE makes up 0.9% of Everett Harris & Co. CA’s holdings, making the stock its 23rd largest holding. Everett Harris & Co. CA owned about 0.07% of NIKE worth $72,893,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in NIKE by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 113,823,785 shares of the footwear maker’s stock worth $8,086,042,000 after buying an additional 672,705 shares during the period. State Street Corp increased its position in shares of NIKE by 2.8% in the second quarter. State Street Corp now owns 59,154,159 shares of the footwear maker’s stock worth $4,225,441,000 after acquiring an additional 1,590,603 shares in the last quarter. Invesco Ltd. raised its holdings in shares of NIKE by 66.1% during the second quarter. Invesco Ltd. now owns 12,157,198 shares of the footwear maker’s stock valued at $863,647,000 after acquiring an additional 4,840,114 shares during the period. Jennison Associates LLC lifted its position in shares of NIKE by 42.3% in the 3rd quarter. Jennison Associates LLC now owns 11,838,528 shares of the footwear maker’s stock valued at $825,501,000 after acquiring an additional 3,518,666 shares in the last quarter. Finally, Norges Bank acquired a new position in NIKE in the 2nd quarter worth approximately $835,063,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Price Performance

NYSE NKE opened at $62.59 on Friday. The company has a quick ratio of 1.40, a current ratio of 2.06 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $92.66 billion, a PE ratio of 36.82, a price-to-earnings-growth ratio of 3.24 and a beta of 1.28. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $82.44. The company has a 50 day moving average price of $63.98 and a two-hundred day moving average price of $68.77.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, December 18th. The footwear maker reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.16. The business had revenue of $12.43 billion for the quarter, compared to the consensus estimate of $12.19 billion. NIKE had a net margin of 5.43% and a return on equity of 18.43%. NIKE’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 EPS. As a group, equities analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 1st were paid a dividend of $0.41 per share. This is a boost from NIKE’s previous quarterly dividend of $0.40. The ex-dividend date was Monday, December 1st. This represents a $1.64 annualized dividend and a dividend yield of 2.6%. NIKE’s dividend payout ratio is currently 96.47%.

Insider Buying and Selling at NIKE

In related news, Director Timothy D. Cook acquired 50,000 shares of the business’s stock in a transaction that occurred on Monday, December 22nd. The shares were acquired at an average cost of $58.97 per share, with a total value of $2,948,500.00. Following the purchase, the director owned 105,480 shares of the company’s stock, valued at approximately $6,220,155.60. The trade was a 90.12% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Holmes Swan bought 8,691 shares of the firm’s stock in a transaction on Monday, December 22nd. The shares were bought at an average cost of $57.54 per share, with a total value of $500,080.14. Following the transaction, the director directly owned 43,293 shares of the company’s stock, valued at approximately $2,491,079.22. This trade represents a 25.12% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 91,229 shares of company stock worth $5,452,640 in the last 90 days. Company insiders own 0.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Daiwa Capital Markets cut their target price on shares of NIKE from $75.00 to $61.00 in a research note on Tuesday, December 23rd. BTIG Research reissued a “buy” rating and set a $100.00 price target on shares of NIKE in a research report on Tuesday. Weiss Ratings upgraded NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 12th. KeyCorp lowered their target price on NIKE from $90.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, January 22nd. Finally, Argus reduced their price target on shares of NIKE from $85.00 to $70.00 in a research report on Tuesday, December 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.65.

NIKE Company Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).