Journey Strategic Wealth LLC Reduces Holdings in NIKE, Inc. (NYSE:NKE)

Journey Strategic Wealth LLC cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 7.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,814 shares of the footwear maker’s stock after selling 367 shares during the period. Journey Strategic Wealth LLC’s holdings in NIKE were worth $364,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In other news, Director John W. Rogers, Jr. bought 2,500 shares of the stock in a transaction on Friday, December 27th. The shares were 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 of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on NKE. Needham & Company LLC reissued a “buy” rating and issued a $84.00 price objective on shares of NIKE in a report on Friday, December 20th. UBS Group restated a “neutral” rating and set a $73.00 price objective on shares of NIKE in a research note on Thursday, December 26th. Robert W. Baird dropped their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, December 23rd. DA Davidson raised shares of NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Finally, Morgan Stanley dropped their price target on NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Fourteen 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.96.

NIKE Price Performance

NYSE NKE opened at $76.82 on Monday. NIKE, Inc. has a 1 year low of $70.32 and a 1 year high of $107.43. The business’s fifty day moving average is $75.60 and its two-hundred day moving average is $78.03. The stock has a market capitalization of $113.62 billion, a P/E ratio of 23.71, a P/E/G ratio of 2.44 and a beta of 1.02. 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 (NYSE:NKE) last announced its 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. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. During the same period in the previous year, the firm earned $1.03 earnings per share. NIKE’s revenue for the quarter was down 7.7% compared to the same quarter last year. On average, research analysts forecast that NIKE, Inc. will post 2.09 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend was Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio is 49.38%.

NIKE Company 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.