NIKE, Inc. (NYSE:NKE) Position Reduced by Davis Investment Partners LLC

Davis Investment Partners LLC lessened its position in NIKE, Inc. (NYSE:NKE) by 18.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,089 shares of the footwear maker’s stock after selling 2,806 shares during the period. Davis Investment Partners LLC’s holdings in NIKE were worth $861,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Loomis Sayles & Co. L P boosted its position in shares of NIKE by 1,209,638.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock valued at $575,342,000 after purchasing an additional 6,507,856 shares during the period. State Street Corp boosted its stake in shares of NIKE by 3.3% during the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after buying an additional 1,862,021 shares during the period. Holocene Advisors LP purchased a new position in NIKE in the third quarter valued at about $148,635,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in NIKE in the third quarter worth approximately $144,927,000. Finally, Renaissance Technologies LLC raised its position in NIKE by 351.7% during the second quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock valued at $150,101,000 after acquiring an additional 1,550,611 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Up 1.3 %

Shares of NYSE:NKE traded up $0.96 during trading on Monday, hitting $72.16. 14,504,671 shares of the company were exchanged, compared to its average volume of 12,627,271. The stock has a market cap of $106.73 billion, a price-to-earnings ratio of 20.68, a P/E/G ratio of 1.89 and a beta of 1.02. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $107.43. The firm has a fifty day moving average price of $76.29 and a two-hundred day moving average price of $78.25.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.15. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. During the same period in the prior year, the firm posted $1.03 earnings per share. The company’s quarterly revenue was down 7.7% compared to the same quarter last year. As a group, research analysts anticipate that NIKE, Inc. will post 2.72 earnings per share for the current fiscal year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were paid a $0.40 dividend. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. This represents a $1.60 annualized dividend and a yield of 2.22%. NIKE’s dividend payout ratio is currently 49.38%.

Insider Activity

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The stock was acquired at an average cost of $76.65 per share, with a total value of $191,625.00. Following the acquisition, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on NKE shares. DA Davidson raised NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Evercore ISI reduced their price objective on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Royal Bank of Canada lowered their target price on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. Robert W. Baird cut their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. Finally, Wells Fargo & Company dropped their price objective on NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a research note on Monday, December 16th. Fourteen investment 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. Based on data from MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and an average price target 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.