Fagan Associates Inc. Has $4.59 Million Stake in NIKE, Inc. (NYSE:NKE)

Fagan Associates Inc. trimmed its stake in NIKE, Inc. (NYSE:NKE) by 2.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 60,626 shares of the footwear maker’s stock after selling 1,603 shares during the period. Fagan Associates Inc.’s holdings in NIKE were worth $4,588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Range Financial Group LLC acquired a new stake in NIKE in the 4th quarter worth $642,000. Cacti Asset Management LLC acquired a new stake in NIKE in the 4th quarter worth $9,987,000. Capricorn Fund Managers Ltd acquired a new stake in NIKE in the 4th quarter worth $5,384,000. Klein Pavlis & Peasley Financial Inc. grew its position in NIKE by 31.1% in the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock worth $1,955,000 after purchasing an additional 6,124 shares during the last quarter. Finally, FNY Investment Advisers LLC grew its position in NIKE by 5,745.9% in the 4th quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock worth $654,000 after purchasing an additional 8,504 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on NKE shares. Barclays decreased their target price on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Needham & Company LLC reiterated a “buy” rating and set a $84.00 target price on shares of NIKE in a research report on Friday, February 7th. UBS Group reiterated a “neutral” rating and set a $73.00 target price on shares of NIKE in a research report on Thursday, December 26th. Stifel Nicolaus decreased their target price on shares of NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research report on Friday, December 20th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research report on Monday, December 16th. Fifteen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $88.62.

Insider Activity

In other news, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the transaction, the chairman now owns 896,632 shares in the company, valued at $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John W. Rogers, Jr. purchased 2,500 shares of NIKE stock in a transaction dated Friday, December 27th. The stock was bought at an average price of $76.65 per share, with a total value of $191,625.00. Following the acquisition, the director now directly 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 ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company’s stock.

NIKE Stock Up 6.2 %

Shares of NYSE NKE opened at $77.54 on Wednesday. The stock has a market cap of $114.70 billion, a P/E ratio of 23.93, a P/E/G ratio of 2.38 and a beta of 1.01. The firm has a 50 day moving average price of $74.38 and a 200 day moving average price of $78.07. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. NIKE, Inc. has a 52-week low of $68.62 and a 52-week high of $106.62.

NIKE (NYSE:NKE) last issued its quarterly earnings data 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. The firm had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.03 earnings per share. Analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

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.