Wendell David Associates Inc. Sells 14,359 Shares of NIKE, Inc. (NYSE:NKE)

Wendell David Associates Inc. reduced its holdings in shares of NIKE, Inc. (NYSE:NKE) by 8.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 162,143 shares of the footwear maker’s stock after selling 14,359 shares during the quarter. NIKE comprises approximately 1.2% of Wendell David Associates Inc.’s holdings, making the stock its 26th biggest position. Wendell David Associates Inc.’s holdings in NIKE were worth $12,269,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Range Financial Group LLC acquired a new position in NIKE in the 4th quarter valued at $642,000. Cacti Asset Management LLC bought a new stake in shares of NIKE during the 4th quarter worth approximately $9,987,000. Capricorn Fund Managers Ltd acquired a new stake in shares of NIKE in the 4th quarter valued at $5,384,000. FNY Investment Advisers LLC boosted its stake in NIKE by 5,745.9% in the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock valued at $654,000 after buying an additional 8,504 shares in the last quarter. Finally, Eagle Rock Investment Company LLC grew its holdings in shares of NIKE by 49.2% during the 4th quarter. Eagle Rock Investment Company LLC now owns 60,642 shares of the footwear maker’s stock valued at $4,589,000 after purchasing an additional 19,991 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

Insider Buying and Selling at NIKE

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The stock was purchased at an average price 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 $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by corporate insiders.

NIKE Stock Performance

Shares of NYSE:NKE opened at $74.07 on Thursday. NIKE, Inc. has a 1 year low of $70.32 and a 1 year high of $107.43. The firm has a market capitalization of $109.56 billion, a PE ratio of 22.86, a P/E/G ratio of 2.33 and a beta of 1.02. The business’s 50 day moving average price is $75.59 and its 200-day moving average price is $77.91. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

NIKE (NYSE:NKE) last announced its quarterly earnings results 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. The business had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business’s revenue was down 7.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.03 EPS. As a group, equities research analysts expect that NIKE, Inc. will post 2.1 earnings per share 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 paid a $0.40 dividend. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend was Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

Wall Street Analysts Forecast Growth

NKE has been the subject of several analyst reports. Barclays cut their price target on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Evercore ISI dropped their target price on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Morgan Stanley reduced their price objective on NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. UBS Group restated a “neutral” rating and issued a $73.00 target price on shares of NIKE in a report on Thursday, December 26th. Finally, Bank of America cut their price objective on shares of NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $89.96.

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.