Avity Investment Management Inc. Reduces Holdings in NIKE, Inc. (NYSE:NKE)

Avity Investment Management Inc. lowered its stake in shares of NIKE, Inc. (NYSE:NKE) by 61.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,452 shares of the footwear maker’s stock after selling 49,066 shares during the quarter. Avity Investment Management Inc.’s holdings in NIKE were worth $2,304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Laurel Wealth Advisors LLC grew its holdings in shares of NIKE by 7.8% during the 4th quarter. Laurel Wealth Advisors LLC now owns 34,115 shares of the footwear maker’s stock worth $2,581,000 after acquiring an additional 2,459 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its holdings in NIKE by 35.4% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 17,648 shares of the footwear maker’s stock worth $1,335,000 after purchasing an additional 4,614 shares in the last quarter. Park Avenue Securities LLC lifted its position in NIKE by 38.1% during the fourth quarter. Park Avenue Securities LLC now owns 14,899 shares of the footwear maker’s stock valued at $1,127,000 after buying an additional 4,107 shares during the period. Kathmere Capital Management LLC boosted its holdings in shares of NIKE by 8.6% during the 4th quarter. Kathmere Capital Management LLC now owns 4,422 shares of the footwear maker’s stock valued at $335,000 after buying an additional 351 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of NIKE by 358.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock worth $228,165,000 after buying an additional 2,357,745 shares during the period. 64.25% of the stock is owned by institutional investors.

Insider Transactions at NIKE

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of the business’s stock in a transaction on Friday, December 27th. The stock was acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.10% of the stock is currently owned by company insiders.

NIKE Trading Down 1.4 %

Shares of NYSE:NKE opened at $71.09 on Wednesday. The stock’s 50-day simple moving average is $76.05 and its two-hundred day simple moving average is $78.06. The stock has a market capitalization of $105.15 billion, a price-to-earnings ratio of 20.37, a PEG ratio of 1.89 and a beta of 1.02. NIKE, Inc. has a 52-week low of $70.53 and a 52-week high of $107.43. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36.

NIKE (NYSE:NKE) last posted its quarterly earnings data 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. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. During the same quarter last year, the firm posted $1.03 earnings per share. The firm’s revenue was down 7.7% compared to the same quarter last year. Analysts expect that NIKE, Inc. will post 2.72 EPS for the current year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were given a dividend of $0.40 per share. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.25%. NIKE’s payout ratio is presently 49.38%.

Analyst Ratings Changes

NKE has been the subject of a number of recent research reports. Evercore ISI lowered their price target on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Needham & Company LLC reiterated a “buy” rating and set a $84.00 target price on shares of NIKE in a report on Friday, December 20th. Wells Fargo & Company cut their price target on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research note on Monday, December 16th. Barclays lowered their price objective on NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. Finally, Bank of America dropped their target price on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Fourteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, NIKE has an average rating of “Moderate Buy” and a consensus target price of $89.96.

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.