Carl P. Sherr & Co. LLC Cuts Stock Holdings in NIKE, Inc. (NYSE:NKE)

Carl P. Sherr & Co. LLC reduced its holdings in shares of NIKE, Inc. (NYSE:NKE) by 30.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,923 shares of the footwear maker’s stock after selling 6,189 shares during the quarter. Carl P. Sherr & Co. LLC’s holdings in NIKE were worth $1,054,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Deseret Mutual Benefit Administrators lifted its holdings in NIKE by 8.6% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 3,590 shares of the footwear maker’s stock worth $272,000 after acquiring an additional 283 shares during the period. Kennon Green & Company LLC lifted its holdings in NIKE by 0.8% during the fourth quarter. Kennon Green & Company LLC now owns 24,323 shares of the footwear maker’s stock worth $1,841,000 after acquiring an additional 196 shares during the period. Peregrine Asset Advisers Inc. lifted its holdings in NIKE by 2.4% during the fourth quarter. Peregrine Asset Advisers Inc. now owns 14,938 shares of the footwear maker’s stock worth $1,130,000 after acquiring an additional 348 shares during the period. Blackston Financial Advisory Group LLC lifted its holdings in NIKE by 11.7% during the fourth quarter. Blackston Financial Advisory Group LLC now owns 3,497 shares of the footwear maker’s stock worth $265,000 after acquiring an additional 365 shares during the period. Finally, Transcend Capital Advisors LLC lifted its holdings in NIKE by 57.1% during the fourth quarter. Transcend Capital Advisors LLC now owns 21,098 shares of the footwear maker’s stock worth $1,596,000 after acquiring an additional 7,666 shares during the period. 64.25% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was 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 directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John W. Rogers, Jr. acquired 2,500 shares of the business’s stock in a transaction dated Friday, December 27th. The stock was purchased at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now directly owns 34,403 shares in the company, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their position. The disclosure for this purchase can be found here. 1.10% of the stock is owned by company insiders.

NIKE Price Performance

NIKE stock opened at $76.50 on Friday. NIKE, Inc. has a 52 week low of $68.62 and a 52 week high of $106.62. The business has a 50-day simple moving average of $74.31 and a 200 day simple moving average of $78.09. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The stock has a market cap of $113.15 billion, a price-to-earnings ratio of 23.61, a PEG ratio of 2.52 and a beta of 1.01.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same period in the previous year, the business earned $1.03 earnings per share. The firm’s revenue was down 7.7% on a year-over-year basis. On average, research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s payout ratio is 49.38%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Deutsche Bank Aktiengesellschaft dropped their price target on NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, December 16th. Citigroup lowered NIKE from a “buy” rating to a “neutral” rating and lowered their target price for the company from $102.00 to $72.00 in a research note on Friday, February 7th. Morgan Stanley lowered their target price on NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. DA Davidson upgraded NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Finally, Robert W. Baird lowered their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. Fifteen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and an average price target of $88.62.

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.