Kavar Capital Partners Group LLC Sells 555 Shares of NIKE, Inc. (NYSE:NKE)

Kavar Capital Partners Group LLC cut its stake in NIKE, Inc. (NYSE:NKE) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,785 shares of the footwear maker’s stock after selling 555 shares during the quarter. Kavar Capital Partners Group LLC’s holdings in NIKE were worth $4,297,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Pacer Advisors Inc. grew its stake in NIKE by 6,029.6% in the 4th quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock valued at $516,166,000 after buying an additional 6,709,985 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new position in shares of NIKE in the fourth quarter valued at approximately $496,000. Capital Asset Advisory Services LLC bought a new position in shares of NIKE during the fourth quarter worth approximately $321,000. Blue Trust Inc. lifted its holdings in NIKE by 25.3% during the 4th quarter. Blue Trust Inc. now owns 14,984 shares of the footwear maker’s stock worth $1,134,000 after purchasing an additional 3,029 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC boosted its stake in NIKE by 5.5% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 19,942 shares of the footwear maker’s stock valued at $1,509,000 after purchasing an additional 1,032 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Down 0.9 %

NYSE:NKE opened at $73.60 on Monday. NIKE, Inc. has a one year low of $70.32 and a one year high of $107.43. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The company has a market cap of $108.86 billion, a PE ratio of 22.72, a P/E/G ratio of 2.36 and a beta of 1.02. The firm’s 50 day simple moving average is $75.45 and its 200 day simple moving average is $77.94.

NIKE (NYSE:NKE) last issued its quarterly 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 company had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. NIKE’s revenue was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.03 earnings per share. On average, research analysts anticipate that NIKE, Inc. will post 2.1 earnings per share for the current 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 paid a $0.40 dividend. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.17%. NIKE’s dividend payout ratio is presently 49.38%.

Analyst Ratings Changes

Several research firms have weighed in on NKE. Telsey Advisory Group cut NIKE from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $93.00 to $80.00 in a research report on Friday, December 20th. DA Davidson raised shares of NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Deutsche Bank Aktiengesellschaft cut their price objective on shares of NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a report on Monday, December 16th. Barclays lowered their target price 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. Finally, TD Cowen cut their price target on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research note 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 assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $89.96.

Insider Transactions at NIKE

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of the firm’s stock in a transaction dated Friday, December 27th. The stock was bought at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the transaction, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This represents a 7.84 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is owned by corporate insiders.

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.