Davies Financial Advisors Inc. Sells 1,429 Shares of NIKE, Inc. (NYSE:NKE)

Davies Financial Advisors Inc. reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 30.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,238 shares of the footwear maker’s stock after selling 1,429 shares during the quarter. Davies Financial Advisors Inc.’s holdings in NIKE were worth $245,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Teachers Insurance & Annuity Association of America purchased a new position in shares of NIKE in the third quarter valued at about $30,000. VitalStone Financial LLC increased its holdings in NIKE by 52.6% during the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 150 shares during the period. Dunhill Financial LLC increased its holdings in NIKE by 52.2% during the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after purchasing an additional 169 shares during the period. Riverview Trust Co bought a new position in NIKE during the 3rd quarter valued at approximately $52,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in NIKE in the 3rd quarter worth approximately $54,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on NKE shares. Robert W. Baird decreased their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, December 23rd. Needham & Company LLC restated a “buy” rating and issued a $84.00 price objective on shares of NIKE in a report on Friday, December 20th. Royal Bank of Canada dropped their target price on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research report on Thursday, November 7th. Telsey Advisory Group cut shares of NIKE from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $93.00 to $80.00 in a research report on Friday, December 20th. Finally, TD Cowen lowered their price objective on shares of NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a report on Monday, November 18th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.96.

Insider Transactions at NIKE

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of the company’s stock in a transaction dated Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.

NIKE Price Performance

Shares of NKE opened at $70.89 on Tuesday. NIKE, Inc. has a twelve month low of $70.32 and a twelve month high of $107.43. The company has a market capitalization of $104.85 billion, a P/E ratio of 21.88, a price-to-earnings-growth ratio of 2.25 and a beta of 1.02. The firm has a 50 day moving average of $75.77 and a 200 day moving average of $77.95. 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 (NYSE:NKE) last posted its earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The business had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.03 EPS. As a group, equities research analysts anticipate that NIKE, Inc. will post 2.1 earnings per share for the current fiscal year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date was Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio (DPR) is presently 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.