LaFleur & Godfrey LLC Decreases Holdings in NIKE, Inc. (NYSE:NKE)

LaFleur & Godfrey LLC lowered its stake in shares of NIKE, Inc. (NYSE:NKE) by 13.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,149 shares of the footwear maker’s stock after selling 5,243 shares during the period. LaFleur & Godfrey LLC’s holdings in NIKE were worth $2,584,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Pacer Advisors Inc. raised its holdings in shares of NIKE by 9.6% during the second quarter. Pacer Advisors Inc. now owns 107,821 shares of the footwear maker’s stock valued at $8,126,000 after acquiring an additional 9,471 shares during the last quarter. Sei Investments Co. increased its position in shares of NIKE by 26.7% during the second quarter. Sei Investments Co. now owns 985,520 shares of the footwear maker’s stock worth $74,279,000 after purchasing an additional 207,548 shares in the last quarter. Summit Trail Advisors LLC increased its position in shares of NIKE by 23.4% during the second quarter. Summit Trail Advisors LLC now owns 13,699 shares of the footwear maker’s stock worth $1,037,000 after purchasing an additional 2,594 shares in the last quarter. Westwood Holdings Group Inc. acquired a new position in NIKE in the 2nd quarter valued at $231,000. Finally, Legacy Financial Advisors Inc. lifted its holdings in NIKE by 17.0% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 4,812 shares of the footwear maker’s stock valued at $363,000 after purchasing an additional 698 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Buying and Selling

In other NIKE news, Director John W. Rogers, Jr. purchased 2,500 shares of the business’s stock in a transaction on Friday, December 27th. The shares were bought at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, the director now directly owns 34,403 shares in the company, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NKE. Barclays dropped their target price on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Evercore ISI dropped their price objective on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. TD Cowen decreased their target price on shares of NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research note on Monday, November 18th. Jefferies Financial Group upped their price target on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Monday, September 30th. Finally, Royal Bank of Canada reduced their price objective on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 7th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $89.96.

NIKE Stock Performance

Shares of NKE stock opened at $70.89 on Monday. The firm has a 50 day moving average of $75.77 and a two-hundred day moving average of $77.94. The stock has a market capitalization of $104.85 billion, a PE ratio of 21.88, a P/E/G ratio of 2.26 and a beta of 1.02. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 52 week low of $70.32 and a 52 week high of $107.43.

NIKE (NYSE:NKE) last released its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. During the same period last year, the business posted $1.03 earnings per share. NIKE’s revenue was down 7.7% compared to the same quarter last year. On average, research analysts predict that NIKE, Inc. will post 2.1 EPS for the current fiscal year.

NIKE Increases Dividend

The business 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. The ex-dividend date of this dividend was Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.26%. NIKE’s payout ratio is currently 49.38%.

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.